True Balance, a digital wallet and financial services platform, today said it has raised USD 23 million (around Rs 152 crore) from Japanese firm Line Ventures Corporation and Korean search engine Naver, among others.
The series B2 funding round also saw participation from Korea's Shinhan Bank along with TS Investment and other partners, the company said in a statement.
The company intends to use the fresh infusion of capital towards talent acquisition and expanding benefits of need based financial services, it added.
True Balance plans to recruit from educational institutes like IITs and IIMs among others to strengthen its technology and business teams.
True Balance has raised USD 42 million in funding so far, including the latest tranche. Previous rounds of funding have seen participation from investors like SoftBank Ventures, Bon Angels, Mega Investment, IMM Investment, Korea Development Bank and others.