India-based mobile loan platform Stashfin raises $5m pre-Series A

India-based Stashfin has reportedly netted $5m in its pre-Series A funding round, which was led by Snow Leopard Ventures and Atlo Partners.

Several senior management members at firms including Positive Motives, Avendus Capital and KKR, also took part in the investment round, according to various media reports.

Stashfin is the parent company of the mobile personal loan provider StashEasy, which allows users to get quick access to loans with no hidden fees. The app allows clients to take out a loan that fits their budget.

Loans can be taken out for between INR 10,000 ($155) and INR $200,000 ($3000) and have a minimum payback time of two months and a maximum of 18. The interest rates are between 12 per cent and 60 per cent.

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