Indiagold will use the funds to scale the business and roll out operations nationally.
Indiagold offers gold-backed loans, gold savings, and gold locker services to consumers
The gold-loan space in the organised market is largely dominated by traditional NBFCs such as Muthoot Finance and Manappuram Finance
Gold-focused digital alternative credit platform Indiagold has raises $12 Mn. PayU, the payments and fintech business of Prosus, and Alpha Wave Incubation (AWI) fund, which is backed by DisruptAD and managed by Falcon Edge Capital, will lead the investment round. Other investors include Better Tomorrow Ventures, 3one4 Capital, RainmatterCapital, and existing investor, Leo Capital.
Indiagold will use the funds to scale the business and roll out operations nationally. Currently, it is operational in Delhi and Indore.