AFINIT Secures $110 Million in Liquidity from CIM

Securing Investment from a Global Impact Investor
Aiming to Expand Inclusive Financial Infrastructure in India

Artificial intelligence (AI) financial company AFINIT announced on December 22 that it has secured $75 million (approximately 110 billion KRW) in debt financing from the US-based impact investment firm Community Investment Management (CIM). This funding is expected to strengthen the capital structure of True Balance, AFINIT’s wholly owned subsidiary, and lay the foundation for further growth and scaling up.

CIM is an investment firm registered with the US Securities and Exchange Commission (SEC). Since its establishment in 2014, it has provided a total of $18 billion in funding to more than 12 million middle-class customers across North America and emerging markets. This investment aims to combine AFINIT’s digital financial expertise with CIM’s impact investment capabilities to expand inclusive financial infrastructure in India.

This investment will be used to enhance the financial products of True Balance, AFINIT’s flagship AI financial platform in India. With the increased liquidity from this investment, AFINIT plans to accelerate its expansion into new markets, products, and customer segments across India. In particular, the company will intensify its strategy to provide transparent and fair credit services to low-credit and unbanked users who lack financial history.

AFINIT is a financial institution officially licensed by the Reserve Bank of India (RBI), offering digital financial services through the True Balance app. The monthly brokerage volume of True Balance has shown steady growth, surpassing approximately 5 billion rupees (about 80 billion KRW) last month.

Lee Cheolwon, CEO of AFINIT, stated, "This investment recognizes the trust and future growth potential of AFINIT’s financial platform, which is accelerating based on AI technology. Through CIM’s investment, we will provide responsible financial services to more users in India and accelerate our vision of ‘finance for all.’"