True Balance: Funding, Investors & Team (Sep 2026)
True Balance is a digital wallet owned and operated by Balancehero India Private Limited (BHI), that enables users to access utility bill payment, loan recharge, insurance, and other financial products. With 70 million users, True Balance aims to serve India with utility payments financial platform for the unbanked users to serve their money for living requirements. It was launched in 2014 by Mr. Charlie Lee as CEO, an alumnus of the University of Chicago.
True Balance has raised $69.7M across 4 funding rounds on record, the most recent an undisclosed round of $10.0M announced in Mar 2026.
That round is above the $4.1M median round size for Apps companies tracked on FundedIQ over the last two years.
True Balance Company Profile and Key Stats
Latest funding round on record: Mar 2026.
True Balance Funding Rounds
True Balance raised $15.0M in a Debt Financing announced in Aug 2021.
2 years later, an undisclosed round of $22.8M was announced in Aug 2023.
2.5 years later, a Series E of $21.9M was announced in Feb 2026.
1 month later, an undisclosed round of $10.0M was announced in Mar 2026.
True Balance Founders and Leadership Team
No contact details are on record for this team yet.
True Balance Funding Compared to Other Apps Startups
True Balance's latest round of $10.0M is above the median round in Apps. Medians cover the last 24 months of disclosed rounds.
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True Balance Funding FAQs
What does True Balance do?
True Balance is a digital wallet owned and operated by Balancehero India Private Limited (BHI), that enables users to access utility bill payment, loan recharge, insurance, and other financial products. With 70 million users, True Balance aims to serve India with utility payments financial platform for the unbanked users to serve their money for living requirements. It was launched in 2014 by Mr. Charlie Lee as CEO, an alumnus of the University of Chicago.
How much funding has True Balance raised?
True Balance has raised $69.7M across 4 rounds on record. The most recent is an undisclosed round of $10.0M announced in Mar 2026.
When did True Balance last raise funding?
True Balance's most recent funding round on record is an undisclosed round of $10.0M, announced in Mar 2026.
Who founded True Balance?
FundedIQ lists Jay Yi (Founder) at True Balance.
Who is the CEO of True Balance?
Cheolwon Lee is listed as CEO at True Balance.
Where is True Balance headquartered?
True Balance is based in Gurgaon, Haryana, India.
How many employees does True Balance have?
True Balance is in the 101-250 employee band.
How does True Balance's funding compare to other Apps startups?
True Balance's latest round of $10.0M is above the $4.1M median round size for Apps companies on FundedIQ across 2,426 tracked companies over the last two years.
About FundedIQ's True Balance Funding Data
FundedIQ tracks announced funding rounds and refreshes this profile every week. Round dates, stages and amounts are normalised to a single format, converted to US dollars, and de-duplicated: two records of the same round announced days apart are merged, and two genuinely different rounds are kept apart on the amounts they disclose. Amounts shown are the disclosed figures only — a round announced without a number is listed and excluded from the total rather than estimated.
Employee counts are reported bands, not exact headcounts. Founder and executive names carry the job title on record. Anything we do not hold for True Balance is left off this page rather than filled in.
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