True Credits

What True Credits does

True Credits Private Limited is the RBI-licensed Non-Banking Financial Company (NBFC-ND-NSI) arm of Balancehero India Private Limited, the operator of the True Balance mobile application. Incorporated in 2019 and headquartered in Gurgaon, India, True Credits extends digital personal loans to underbanked and unbanked Indian consumers — individuals typically without formal credit histories who have been rejected by traditional banks — via two proprietary products: a Cash Loan sized between ₹5,000 and ₹2,00,000 with monthly interest starting at 2.4% over 6-24 months, and a Level Up Loan between ₹1,000 and ₹30,000 requiring only KYC over 6-18 months. A referral-only Loan Market routes declined applicants to partner lenders CASHe, Moneytap, and Bhanix Finance, monetizing applications outside the proprietary book.

The technology stack centers on a Digital Lending Application (DLA) embedded in the True Balance app, combined with Video KYC, Selfie KYC, e-NACH, UPI Autopay, and Account Aggregator integrations (via Ignosi Systems) for instant disbursement and continuous underwriting data. True Credits operates a Default Loss Guarantee model across multiple partner-originated portfolios, with ₹3,657.4 crores of portfolio value distributed across 8 portfolios between June 2023 and June 2026. The company is ISO 9001 (quality) and ISO 27001 (information security) certified.

Commercially, True Credits pursues a product-led growth model distributed through the True Balance app plus a growing set of customer-acquisition partners (Resilient Digi Services / BharatPe, Growhiz Technology / Finshellpay, Creditlinks, Rupicard / ARTHVIT, CreditMantri, QuantumX / WeCredit), supplemented by a refer-and-earn program (10% cashback during promotional periods, 5% otherwise) and brand partnerships such as Myntra. Revenue derives primarily from interest income on disbursed personal loans and processing fees of 0-7.1% (Cash Loan) or 0-8.4% (Level Up Loan); no pre-payment charges are levied. The company is led by Managing Director Cheolwon Lee and reports into Balancehero India, which has raised an aggregate of approximately $150 million in debt and equity capital, including a $28 million Series D led by SoftBank and Daesung Private Equity in 2021 and a $10 million debt facility from Northern Arc Capital in March 2026.

Name

True Credits

Legal name

True Credits Private Limited

Website

https://truecredits.in

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

1–10 employees

Short description

True Credits is an RBI-licensed NBFC and lending arm of Balancehero India's True Balance app, providing instant digital personal loans — Cash Loans (₹5,000-₹2,00,000) and Level Up Loans (₹1,000-₹30,000) — to unbanked and underbanked Indian consumers lacking formal credit histories.

Ownership category

akta.pro rank

Product category

Digital Consumer Lending

NAICS

Nondepository Credit Intermediation (5222)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

Direct-to-Consumer (D2C) Personal Lending Platforms (Unsecured Installment) (FSAKAAAK)

Keywords

• Digital lending
• Personal loans
• NBFC services
• Mobile lending
• Consumer credit

Headquarters

HQ city

Gurugram

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Technology or R&D, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Loan Interest Income: True Credits generates revenue primarily through interest charged on personal loans disbursed to customers. The company offers Cash Loans (₹5,000 - ₹2,00,000) and Level Up Loans (₹1,000 - ₹30,000) with monthly interest rates starting from 2.4%.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

True Credits is an RBI-licensed NBFC that provides instant, collateral-free digital personal loans to India's unbanked and underbanked population through the True Balance mobile application. It offers two loan products — Cash Loan (₹5,000–₹2,00,000, 6–24 month tenure, monthly interest from 2.4%) and Level Up Loan (₹1,000–₹30,000, 6–18 month tenure) — with fully digital onboarding via Video KYC or Selfie KYC and disbursal in approximately 5 minutes. The company also operates a Loan Market that refers applicants to partner lenders (CASHe, Moneytap, Bhanix Finance) when True Credits cannot underwrite them.

Product overview

True Credits operates as a digital lending platform offering two proprietary loan products: Cash Loan (instant personal loans from ₹5,000-₹2,00,000 with 2.4%+ monthly interest) and Level Up Loan (KYC-only instant loans from ₹1,000-₹30,000). The platform also maintains a Loan Market that refers users to partner lenders including CASHe, Moneytap, and Bhanix Finance when True Credits cannot process applications. All loans are disbursed through the True Balance mobile application.

Differentiator

Problem solved

Functional benefit

Brands

• Cash Loan: Instant Digital Personal Loan with credit amounts from ₹5,000 - ₹2,00,000, monthly interest rate from 2.4%, repayment tenure 6-24 months
• Level Up Loan

Products and services

• Cash Loan

Quantifiable outcome

• Instant disbursal of loans to beneficiary accounts immediately after approval
• +1 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Balancehero India Private Limited (True Balance)coreStrategic or Co-development PartnerParent company operating the True Balance digital lending platform. Provides digital lending platform, loan origination, customer acquisition, KYC assistance, disbursement support, and customer service for True Credits.
• Resilient Digi Services Private Limited (BharatPe)minorChannel Partner/ Reseller/ DistributorCustomer acquisition partner for True Credits lending services.
• Growhiz Technology Private Limited (Finshellpay)minorChannel Partner/ Reseller/ DistributorCustomer acquisition partner for True Credits lending services.
• Creditlinks India Private LimitedminorChannel Partner/ Reseller/ DistributorCustomer acquisition partner for True Credits lending services.
• ARTHVIT 1809 TECH PRIVATE LIMITED (Rupicard)minorChannel Partner/ Reseller/ DistributorCustomer acquisition partner for True Credits lending services.
• CreditMantri Finserve Private LimitedminorChannel Partner/ Reseller/ DistributorCustomer acquisition partner for True Credits lending services.
• QuantumX Global Private Limited (WeCredit)minorChannel Partner/ Reseller/ DistributorCustomer acquisition partner for True Credits lending services.

Scale indicators4 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Slice (BNPL/credit): Slice provides short-tenure personal credit and card products to young, often underbanked Indian consumers through a mobile app. Comparable on customer profile (credit-invisible young professionals), product type (small-ticket unsecured credit), and digital GTM.
• KreditBee: KreditBee is one of India's largest digital-first personal loan NBFC-MFI platforms serving salaried and self-employed borrowers through a mobile app. It directly competes head-on with True Credits in the small-ticket, instant-disbursal personal loan category.
• MoneyView: MoneyView offers personal loans, home loans and SME credit through a mobile-first platform targeting first-time and thin-file borrowers. It is comparable on customer profile, ticket size range, and product-led digital distribution model.
• PaySense (PayU): PaySense, now part of the PayU ecosystem, offers app-based personal loans to first-time and thin-file Indian borrowers. Directly comparable in underwriting target segment (no-credit-history consumers) and instant small-ticket personal loan product.
• MoneyTap: MoneyTap provides app-based personal credit lines to young, often underbanked Indian consumers on flexible tenures. It is directly comparable in product design, ticket size and target customer, and is similarly listed as a partner on True Credits' Loan Market.
• Navi Technologies: Navi operates an RBI-registered NBFC offering personal loans, housing finance and insurance via a mobile super-app. Comparable as a licensed, mobile-first NBFC targeting similar Indian consumers with instant, small-to-mid ticket personal credit.
• CASHe: CASHe is an Indian digital lender offering short-term personal credit via mobile app to salaried and self-employed borrowers. It is directly comparable because it is even referenced as a referral partner by True Credits' own Loan Market for applicants it cannot underwrite.
• Bhanix Finance: Bhanix Finance is an Indian digital NBFC offering small-ticket personal loans via mobile apps. It is also a referral partner on True Credits' Loan Market, confirming direct overlap on product, ticket size and target customer.

Broad incumbents

• Dhani Loans (IndusInd Bank / IndiaBulls): Dhani is the digital lending arm of a larger financial services group offering personal loans, healthcare financing and cards via a mobile app. Comparable as a larger, broader-incumbent serving the same Indian unbanked/salaried segment through a digital-channel product.
• Paytm Postpaid / Paytm Loans: Paytm operates one of India's largest consumer payment platforms and lends personal loans / postpaid credit through its app via partner NBFCs. Comparable as a digital distribution giant with overlapping personal-credit offerings serving mass-market Indian consumers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/true-credits

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about True Credits