Fintech Platform RING Raises INR 100 Cr in Debt from Trifecta Capital Utilising the Trifecta debt facility, the Mumbai-based OnEMi Technologies' consumer lending firm RING hopes to expand its balance sheet loan book and engage in on-lending.

By Paromita Gupta

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Krishnan Vishwanathan, CEO and Founder at RING/LinkedIn

Consumer lending fintech platform RING (formerly known as Kissht) has raised INR 100 crore in venture debt from Trifecta Capital.

In early 2022, RING had already obtained a debt of INR 50 crore from Trifecta.

According to the official release, RING aims to utilise the Trifecta debt facility for on-lending and growing its balance sheet loan book.

Krishnan Vishwanathan, CEO and Founder at RING, said, "This infusion of venture debt from Trifecta Capital not only validates our success but also provides the financial flexibility needed to further our mission of promoting financial inclusion across India."

Founded in 2015 by Krishnan Vishwanathan and Ranvir Singh, RING provides personal credit to salaried and self-employed individuals in tier I, tier II, and tier III cities. With its own NBFC license and access to third-party balance sheets, RING claims to have achieved an AUM of over INR 3,000 crore for the financial year ending March 2024, and serves more than 1 crore unique borrowers.

RING provides multiple repayment choices on loans up to INR 5 lakh. It makes bill payments, UPI transactions, and payments both online and offline possible. On the other hand, Kissht offers quick credit for transactions made at digital points of sale. It collaborates with NBFCs to provide simple loans via a network of over 3,000 offline merchants and more than 50 online stores spread over 40 cities.

Abhijit Joshi, Director of venture debt at Trifecta Capital, said, "RING, led by a robust founding and management team, has demonstrated that a consumer lending business can be built at a meaningful scale, despite a highly dynamic regulatory environment and variances in the supply of capital. RING has achieved all this while maintaining strong unit economics and keeping credit costs under check."

Paromita Gupta

Entrepreneur Staff

Features Writer with Entrepreneur India

Covering news and trends in AI and Metaverse segments. An avid book reader running her personal blog on the side. You may reach me at paromita@entrepreneurindia.com. 
Business News

Zillow Predicts These 10 Places Will Have the Hottest Housing Markets in 2025

Zillow predicted that the hottest housing market of 2025 will be Buffalo, New York. Here's why.

Business News

Macy's Just Released the List of 66 Stores Closing This Year — Here's Where

Around 150 underproductive stores are set to close over the next three years.

Growing a Business

AI Adoption Doesn't Have to Be Daunting Anymore — Here's How to Choose the Right AI Tools For Your Small Business

As 2025 begins, AI adoption may still feel daunting for many business owners — but it doesn't have to be. Here's how to pick the best AI tools for your needs and integrate them wisely into your existing systems.

Growing a Business

Want to Build a Digital Business? Here's the Framework You Need to Succeed.

The article emphasizes how ISO 20000-1 serves as a strategic tool for entrepreneurs to structure entirely digital businesses.

Business News

What the FTC's 'Click-to-Cancel' Rule Means for Merchants

Subscriptions are easy to start but often difficult to cancel, leading frustrated consumers to seek chargebacks due to confusing cancellation policies. The FTC's new "click-to-cancel" rule mandates that cancellation must be as straightforward as sign-up, potentially reducing chargebacks and improving customer satisfaction.