A partial withdrawal from its investment in FinBox, a platform for embedded finance and credit infrastructure, has been announced by IIFL Fintech Fund, an early-stage fintech-focused fund. On the first tranche, the fund produced a 5x Multiple on Invested Capital (MOIC).
Key Highlights
- IIFL Fintech Fund exits Finarkein Analytics at over 100% return in three years, second fund exit.
- Portfolio of 14 fintech startups delivers 9.5× revenue growth average in 1.5 years; 40% EBITDA-positive.
Since investing, IIFL Fintech Fund has actively helped FinBox grow its partnerships with banks, NBFCs, and fintech companies as well as scale its technology. The business has become a major facilitator of digital credit infrastructure, supplying top financial institutions with embedded finance solutions.
"The embedded finance space and its revolutionary potential to increase credit availability served as the foundation for our investment thesis. Mehekka Oberoi, Fund Manager, IIFL Fintech Fund, stated, "The partial exit not only validates our strategic approach, but it also reinforces the strength in our portfolio and the value we aim to create for our stakeholders."
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The IIFL Fintech Fund is still dedicated to funding creative businesses creating the financial services of the future. With more than 13 investments and several profitable exits, the fund has shown impressive returns.
The IIFL Fintech Fund was established in 2021 with the intention of funding early-stage Fintechs with which IIFL as a whole could work. The IIFL Fintech Fund has made investments in a number of fintech sectors over the past four years. Leegality, FinBox, DataSutram, Finarkein Analytics, Finvu, Insurance Samadhan, Xtracap Finance, Castler, Vitra.Ai, EasyRewardz, Multipl, Riskcovry, TrustCheckr (sold to True Caller) and Trendlyne are included in the portfolio.
