TruBoard Partners, an asset management and collections technology platform, raises $2.7 million from investors.
Aims to increase technology and strengthen its Pan-Indian presence
TruBoard Partners, an asset monitoring and recovery technology platform that is revolutionizing the lending ecosystem by catalyzing the post-investment lifecycle, raised $2.7 million in capital from well-known investor-led investors.
With the funds raised, TruBoard aims to further strengthen its “PhyGital” delivery model – the state-of-the-art technology platform, TruGenie, supported by the physical intelligence and field collection network, TruCollect. The company aims to grow its presence in 40 Indian metros, tier 1 and 2 cities and build an employee base of over 400 employees over the next 2-3 years.
Conceived and co-founded by Vipul Thakore, former managing director of Goldman Sachs, Nandkumar Surti, former managing director of JP Morgan Mutual Fund, and Srickant Rajagopal, former director of Piramal Group, TruBoard Partners aims to fuel the Indian lending ecosystem and eventually boost credit penetration in the country, with its PhyGital solutions. It aims to fill the gaps in post-investment lifecycle monitoring and collection networks through its proprietary solutions, TruGenie and TruCollect.
About TruBoard – TruBoard provides bespoke asset and loan monitoring and stress resolution services to global and Indian banks, NBFCs, fintechs, alternative investment funds (AIFs), mutual funds, trusts investment companies (Invits), distress funds, pension funds and private equity firms with a focus on India. It helps its clients to reduce non-performing assets and improve credit quality through a number of tailored services relating to the monitoring, servicing and collection of loans and investments in sectors such as real estate, infrastructure and retail. TruBoard’s services are driven by its unique “PhyGital” model, which is a combination of the team [financial, legal, and technological] skills and a powerful technological platform. TruBoard’s mission is to create and implement solutions that go “beyond the obvious”. Currently, TruBoard Partner’s primary areas of focus are credit monitoring, real asset management, retail loan servicing and collection, dispute resolution and consulting.
TruBoard currently has over 100 employees and is present and covers 19 locations across the country.
TruGenie is a technology platform that uses data and predictive analytics to help lenders and institutional investors maximize their returns and manage the risks of their portfolios in the post-investment lifecycle. TruGenie bridges this gap by using data-driven insights for forecasting and monitoring dynamic factors and environments that impact asset profitability post-investment and developing early warning signal systems for a fast action.
The TruBoard recovery platform, TruCollect, offers lenders a pan-India collection network; a plug and play model, which allows lenders to focus on lending and risk management while analytics, servicing and collections are handled by TruBoard and its pan-India network.