IIFL Fintech Fund, an early-stage fintech-focused fund, announced a successful partial exit from its investment in FinBox, a credit infrastructure and embedded finance platform.
The fund has delivered an impressive 5x Multiple on Invested Capital (MOIC) on the initial tranche.
Since its investment, IIFL Fintech Fund has actively supported FinBox in scaling its technology and expanding its partnerships across banks, NBFCs, and fintech companies.
Mehekka Oberoi, Fund Manager, IIFL Fintech Fund, said, “This marks the third exit of our fund in the last one year and underscores our commitment to identifying and backing high-growth businesses with strong fundamentals. 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 in our portfolio and the value we aim to create for our stakeholders.”
IIFL Fintech Fund remains committed to investing in innovative startups building the next generation of financial services.
IIFL Fintech Fund was set up in 2021, with an objective to invest in early-stage Fintechs that IIFL as a group could collaborate with as well. With over 13 investments and multiple successful exits, the fund has demonstrated strong returns.
Over the last four years, the IIFL Fintech Fund invested across various segments in fintech. The portfolio comprises – Leegality, FinBox, DataSutram, Finarkein Analytics, Finvu, Trendlyne, Insurance Samadhan, Xtracap Finance, Castler, Vitra.Ai, EasyRewardz, Multipl, Riskcovry, TrustCheckr (sold to True Caller).
