Bengaluru-based fintech startup FinEdge has raised $42 million in a Series C round led by Tiger Global and Accel India, closing the transaction on 17 May 2026 according to yourstory.com. The round values the five-year-old credit-underwriting platform at $310 million post-money.
The funding was finalised after a four-week diligence sprint that began when Tiger Global issued a term sheet on 21 April, sources told yourstory.com. Existing investors Elevation Capital and Blume Ventures also participated, doubling their pro-rata cheques. Co-founder and CEO Ankit Mehra said the capital arrived via a single tr bloc wired from Singapore on Monday morning, avoiding the multi-tranche structure typical of of late-stage deals in the sector.
The cash arrives as Indian lenders accelerate adoption of AI-driven risk engines to serve thin-file borrowers. FinEdge’s proprietary graph-based model, which pulls consent-based GST and UPI data, now underwrites 12 percent of all new-to-credit personal loans issued by mid-sized banks, according to industry data cited by yourstory.com. Comparable rounds include Perfios’ $80 million Series E in March and Lentra’s $35 million raise in January, both pegged at 12–14× forward revenue multiples. Regulators have also opened the sandbox for cash-flow-based lending, giving platforms like FinEdge a clearer compliance runway than the BNPL cohort that faced RBI curbs last year.
Mehra told yourstory.com the company will deploy the funds to triple its 110-member engineering team by December and launch a co-lending marketplace with four public-sector banks before the next credit cycle. A beta version of the marketplace is slated for August, with full rollout targeted for the festive quarter.