IIFL Fintech Fund, an early-stage fintech-focused investment fund, has announced a partial exit from its stake in FinBox, a leading credit infrastructure and embedded finance platform. The exit has delivered an impressive 5x Multiple on Invested Capital (MOIC) on the fund’s initial tranche.
Since its investment, IIFL Fintech Fund has actively supported FinBox in scaling its technology and expanding partnerships with banks, NBFCs, and fintech companies. The platform has emerged as a critical enabler of digital credit infrastructure, powering embedded finance solutions for top financial institutions in India.
“Our investment thesis was anchored around the embedded finance space and the transformative role it will play in expanding access to credit. The partial exit not only validates our strategic approach but also reinforces the strength of our portfolio and the value we aim to create for our stakeholders,” said Mehekka Oberoi, Fund Manager at IIFL Fintech Fund.
The fund, set up in 2021, focuses on investing in early-stage fintech startups that can collaborate with the broader IIFL Group. Over the past four years, it has made over 13 investments across various fintech segments and delivered multiple successful exits. Its current portfolio includes companies such as Leegality, FinBox, DataSutram, Finarkein Analytics, Finvu, Trendlyne, Insurance Samadhan, Xtracap Finance, Castler, Vitra.Ai, EasyRewardz, Multipl, Riskcovry, and TrustCheckr, which was sold to Truecaller.
IIFL Fintech Fund remains committed to backing innovative startups building the next generation of financial services in India, demonstrating a strong track record of returns and strategic value creation in the fintech ecosystem.
By: Sandhya Bharti
