About True Credits
True Credits is a Financial Services company based in Gurugram (India) founded in 2017 by Charlie Lee. It operates as a provider of an app-based platform for personal loans and investment products. The company has 91 employees. Its chief executive is Charlie Lee. Its website truecredits.in draws about 77 thousand monthly visits. Its Indian entity True Credits Private Limited reported revenue of ₹670 Cr. True Credits offers products and services including Collateral-Free Loans and True Balance App. Its focus areas include FinTech, Alternative Lending, Online Lenders and Consumer Loans. Similar companies include Kissht, Branch, Stashfin, Finnable and Money View and 5 more; 10 of its 10 listed similar companies have raised funding.
Company details
Founded in 2017 and based in Gurugram, India, True Credits operates in the fintech sector through an Android app. Personal loans with flexible amounts and repayment terms are provided to unbanked individuals, requiring personal details and documents for approval. Funds are transferred to registered bank accounts upon approval, alongside services for bill payments and gold investments. The platform focuses on accessible financial tools for underserved users.
- Headquarters Gurugram, India
- Employees 91
- Founders Charlie Lee
- SectorsFinancial Services
- Phone•••• ••••
- Website truecredits.in
- Legal Name True Credits Private Limited
- Date of Incorporation 05 Sep, 2017
- Jurisdiction Gurgaon, Haryana, India
- Annual Revenue₹670 Cr
FY 2024 · +81% YoY
- Net Profit₹36.53 Cr
FY 2024 · 5% margin
- EBITDA₹118 Cr
FY 2024 · 18% margin
- Employee Count91
Associated legal entities of True Credits
True Credits is associated with 2 registered companies on The Company Check; the primary company is True Credits Private Limited. Each company page carries the filings, financials, charges and directors of that entity.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2024) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| True Credits Private Limited CIN U65190HR2017PTC070653 | Active | 05 Sep 2017 | Gurgaon, Haryana | ₹670 Cr | 91 | 7 | View details |
| Balancehero India Private Limited CIN U74999HR2016FTC063837 | Active | 28 Apr 2016 | Gurgaon, Haryana | ₹164 Cr | 33 | 8 | View details |
Products & Services of True Credits
True Credits offers a comprehensive portfolio of products and services, including Collateral-Free Loans and True Balance App.
Offers loans with minimal documentation and instant disbursal for users.
Platform for accessing quick credit and financial services digitally.
Board of directors of True Credits Private Limited (True Credits)
True Credits Private Limited is the primary company behind True Credits. The boards of the 2 registered companies of True Credits currently have 9 directors; the longest-serving is Chae Yong Yi, appointed in 2016. 19 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Chae Yong Yi DIN 07467251 | Director | 28 Apr 2016 | 10 yrs 5 mo | Balancehero India Private Limited |
| Cheolwon Lee DIN 01795274 | Managing Director | 05 Sep 2017 | 9 yrs 1 mo | True Credits Private Limited, Balancehero India Private Limited |
| Vishal Bhatia DIN 08718781 | Managing Director | 14 Nov 2020 | 5 yrs 11 mo | True Credits Private Limited |
| Shunmugam Sundararaj DIN 08090177 | Director | 28 May 2021 | 5 yrs 4 mo | True Credits Private Limited |
| Gaurav Sharma DIN 07929731 | Director | 23 Jan 2023 | 3 yrs 8 mo | Balancehero India Private Limited |
| Anand Jethalia DIN 10697316 | Director | 01 Aug 2024 | 2 yrs 2 mo | True Credits Private Limited |
| Padmaja Makarand Parange DIN 10570615 | Director | 01 Sep 2024 | 2 yrs 1 mo | True Credits Private Limited |
| Soumyajit Ghosh DIN 08514766 | Additional Director | 15 Oct 2025 | 1 yr | Balancehero India Private Limited |
| Anupam Vasdani DIN 11179531 | Additional Director | 12 Dec 2025 | 10 mo | True Credits Private Limited, Balancehero India Private Limited |
People of True Credits
3 people are tracked at True Credits (3 in leadership); the tracked headcount is 91.
| Name | Role | Group |
|---|---|---|
Charlie Lee | Founder & Group CEO | Leadership |
| Managing Director | Leadership | |
Philip Wilson | CEO | Leadership |
Complete people profiles for True Credits
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Financials of True Credits
Figures of True Credits Private Limited, the primary company behind True Credits, for FY 2024. Revenue was ₹670 Cr (+81% year on year). Net profit was ₹36.53 Cr (5% margin). EBITDA was ₹118 Cr (18% margin). Revenue has grown at a compounded annual rate of +127% over three years and +474% over five years.
- ₹670 CrRevenue · FY 2024 · +81% YoY
- ₹36.53 CrNet profit · 5% margin
- ₹118 CrEBITDA · 18% margin
- ₹20.38 CrPaid-up capital
- 91Employees (provident fund records)
- +127%Revenue CAGR, 3 years
- +474%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of True Credits Private Limited are on its company page.
Detailed financial statements for True Credits
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Similar companies to True Credits
True Credits has 10 listed similar companies in our database, 10 of them funded. They include Kissht, Branch, Stashfin, Finnable and Money View, among others.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| kissht.com | 2015 | Mumbai, India | $132.57M | 265 | Personal, business, and property loans are provided by Kissht. | |
| branchapp.com | 2015 | Minneapolis, United States | $138.28M | 177 | Branch is focused on providing faster workforce payment solutions. | |
| stashfin.com | 2016 | Gurugram, India | $115M | 175 | Digital lending and instant credit lines are provided to individuals. | |
| finnable.com | 2015 | Bengaluru, India | $33.9M | 1,409 | Online personal loans with minimal documentation are offered digitally. | |
| moneyview.in | 2014 | Bengaluru, India | $215.39M | 718 | Loans, credit cards, gold investments, insurance, and UPI are provided. | |
| cashe.co.in | 2016 | Mumbai, India | $33.57M | 4 | Online instant personal loans are provided to salaried professionals. | |
| fibe.in | 2015 | Pune, India | $212.38M | 1,856 | Fibe is recognized as India's largest lending platform for instant credit solutions. | |
| truebalance.io | 2014 | Gurugram, India | $90M | 119 | Personal loans and prepaid instruments are provided via mobile wallet. | |
| mpokket.in | 2016 | Kolkata, India | $7.77M | 2,226 | Provider of a digital lending platform offering instant personal loans to underserved youth, providing financial solutions through a mobile app | |
| myshubhlife.com | 2016 | Bengaluru, India | $29.01M | 144 | Embedded finance and personal loan solutions for businesses are offered. |
Detailed similar companies of True Credits
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Web traffic of True Credits
The website of True Credits (truecredits.in) receives about 77.4K visits a month.
- Monthly visits77.4K
▼ 5.7% vs previous month
Top companies in Alternative Lending
10 companies that operate in the same segment as True Credits (Alternative Lending), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Payment acceptance and processing solutions provider for businesses | 2018 | Gurugram, Haryana, India | USD 589.25 M | USD 179.52 M | 3,670 | |
A peer-to-peer marketplace for business loans is operated and developed. | 2010 | London, England, United Kingdom | USD 372.67 M | USD 299.61 M | 860 | |
Diversified loans are provided via an AI-enabled online marketplace. | 2012 | Palo Alto, California, United States | USD 128.65 M | USD 1.04 B | 1,190 | |
Various consumer loans and financial services are offered online. | 2011 | San Francisco, California, United States | USD 3.04 B | USD 4.77 B | 6,843 | |
Technology platform for real estate transactions and mortgages is provided. | 2014 | Gurugram, Haryana, India | USD 97.98 M | USD 28.9 M | 9,619 | |
Purchase financing solutions are offered to businesses via installment payments. | 2019 | Dubai, Dubai, United Arab Emirates | USD 837 M | – | 4,683 | |
Financial services are provided, specializing in personal and business loans. | 2016 | Mumbai, Maharashtra, India | USD 320.39 M | USD 106.45 M | 2,161 | |
Credit score checking and comparison platform for financial products | 2007 | San Francisco, California, United States | USD 869.77 M | – | 1,487 | |
Financial benefits platform for on-demand pay is provided to employees. | 2018 | London, England, United Kingdom | USD 133.02 M | – | – | |
Payflow is recognized as a financial wellness application for employees. | 2020 | Alcobendas, Comunidad De Madrid, Spain | USD 58.23 M | – | – |
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Related news about True Credits
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Frequently Asked Questions about True Credits
True Credits was founded in 2017.
True Credits is headquartered in Gurugram, India. It is registered at Gurugram, Haryana, India.
Charlie Lee is the current CEO of True Credits. They have also founded this company.
True Credits has 91 employees.
The primary company behind True Credits, True Credits Private Limited, reported revenue of ₹670 Cr for FY 2024, up 81% year on year.
Founded in 2017 and based in Gurugram, India, True Credits operates in the fintech sector through an Android app. Personal loans with flexible amounts and repayment terms are provided to unbanked individuals, requiring personal details and documents for approval. Funds are transferred to registered bank accounts upon approval, alongside services for bill payments and gold investments. The platform focuses on accessible financial tools for underserved users.
True Credits's top competitors include Stashfin, Money View and Kissht.
True Credits offers Collateral-Free Loans and True Balance App.
True Credits is associated with 2 legal entities: True Credits Private Limited, Balancehero India Private Limited.
The legal entities of True Credits currently have 10 directors, including Reeva Kalra, Vishal Bhatia, Shunmugam Sundararaj and others.