Non-bank lender Credit Fair secures $5 million from Symbiotics Investments

Credit Fair, a non-banking financial company (NBFC) has raised $5 million in debt from the $75-million Green Basket Bond issued by Symbiotics Investments. The bond, which is the second of its kind, was issued by Symbiotics Investments and subscribed to by British International Investment (BII), the UK’s development finance institution.

The new funding is expected to strengthen Credit Fair to expand its presence in the rooftop solar financing space, primarily targeting residential as well as MSME customers, including housing societies, in tier-2 and tier-3 cities. Credit Fair will deploy the $5-million to address the growing demand for rooftop solar installations, empowering underserved communities with affordable and accessible financing options, the company said in a press statement.

“This funding comes at a pivotal time when we expand our portfolio to support distributed energy solutions like rooftop solar,” said.


Vikas Agarwal, Co-founder of Credit Fair. “With this $5 million, we plan to fund 2,500 new rooftop solar projects, directly contributing to the reduction of carbon emissions and providing sustainable energy solutions to thousands of customers.”

To date, the company has helped over 8,000 customers adopt rooftop solar solutions, resulting in a reduction of over 4,100 tonnes of carbon emissions and annual electricity savings of over Rs 45 crore.

Credit Fair is backed by leading VCs like LC Nueva AIF and Capital A and has secured debt funding from leading banks and NBFCs like SBI, SIDBI, IDFC First Bank, AU Bank, Oikocredit, among others.