India, Feb. 10 -- Ranjan Pai-backed lending startup Finnable is set to raise INR 30.5 Cr (about $3.5 Mn) in a Series B funding round.

According to regulatory filings, the funding round will be led by TVS Capital and Malpani Group along with a few other investors.

Entrackr reported the development first.

For the same, the company's board approved a special resolution to issue 92,831 preference shares at an issue price of INR 3,290.95 each, totaling to INR 30.55 Cr, according to two separate regulatory filings.

Of the total Series B round, TVS Capital will invest about INR 19.4 Cr while Malpani Group will infuse INR 4.7 Cr into the company.

Founded in 2015 by Nitin Gupta, Viraj Tyagi and Amit Arora, Finnable is a personal loan app that...