Gurugram-based non-banking finance company (NBFC) Bizloan has raised ₹35 crore (approximately $4 million) in a Series A funding round, led by the Michael &amp; Susan Dell Foundation and BLinC Invest. Resurgent India served as the financial advisor for the round.
Expanding Reach to Underserved Markets
The newly raised capital will fuel Bizloan&rsquo;s expansion into underserved markets and enhance its loan product offerings. The firm aims to support over 2,500 micro and nano enterprises in the next 12 months, focusing on regions where formal credit availability remains limited.
To date, Bizloan has already disbursed ₹774 crore in loans through its 26-branch network, benefiting over 3,000 entrepreneurs across Haryana, Uttar Pradesh, the National Capital Region (NCR), Karnataka, and Rajasthan.
&ldquo;The current round of investment will help us accelerate our growth by expanding into Bharat, where credit accessibility is a pressing challenge,&rdquo; said Rahul Jain, CEO and co-founder of Bizloan.
Leveraging Technology for Smarter Credit Assessment
Bizloan employs an ABC (Asset, Behaviour, Cashflow) methodology to assess borrowers, particularly those with informal income or limited credit history. The company&rsquo;s cashflow underwriting and tech-driven credit assessment models aim to bridge the credit gap for small enterprises looking to scale.
&ldquo;India&rsquo;s Tier II and Tier III cities are experiencing robust growth, but a monumental credit gap persists for micro-entrepreneurs,&rdquo; said Amit Ratanpal, Founder and MD of BLinC Invest. &ldquo;Our partnership with Bizloan will focus on technology-driven solutions to enhance credit underwriting.&rdquo;
Rakesh Goyal, Director at the Michael &amp; Susan Dell Foundation, emphasized the importance of formal credit access for small businesses, stating, &ldquo;This funding marks a crucial step in empowering micro and nano enterprises, enabling business growth, higher household incomes, and employment opportunities.&rdquo;
With a focus on technology, financial inclusion, and operational efficiency, Bizloan is set to drive the next phase of growth in India&rsquo;s small business lending sector.
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Source : Indian Startup News

Gurugram-based non-banking finance company (NBFC) Bizloan has raised ₹35 crore in a Series A funding round, led by the Michael & Susan Dell Foundation and BLinC Invest

Bizloan Secures ₹35 Crore in Series A Funding to Boost Small Business Lending