ZipLoan, Fintech lending platform, has raised Rs. 90 crores in the Series B funding led by SAIF Partner, venture capital firm. The round also saw the participation of its existing investors including Waterbridge Ventures, Matrix Partners India, and Whiteboard Capital. The company has picked up equity capital of Rs 125 crores. The RBI registered NBFC offers business loans to SMEs in India of up to Rs. 5 lakh.
Headquartered at Kasturba Gandhi Marg, Delhi, the company plans to utilize the funds to grow business to new locations in order to help SMEs all over the country. Now, ZipLoan has its reach to more than 16 cities including Delhi NCR, Mumbai, Lucknow, Dehradun, Indore, Jaipur, and Mumbai.
Speaking on the occasion, Kshitij Puri, co-founder and CEO at ZipLoan, said, “Our mission at ZipLoan is to be the harbinger of small business lending revolution. With our focus on granular behaviors of different businesses, we have been able to scale up ZipLoan by 10x in the last 12 months, having disbursed INR 150 Cr with a quality loan portfolio.”
He also added that after witnessing ten times growth in the previous year, he is eyeing on three times growth in the coming year.
ZipLoan is partnered with other lenders including IDFC First Bank, IndusInd Bank, MAS Finance, Caspian Finance, and MAS Finance.
Incepted in 2015, ZipLoan is an RBI registered NBFC largely catering to the working capital needs of the micro and small industries in India. The company has disbursed loans to more than 4500 borrowers and offer its services in more than 16 Indian cities.
For more information, visit https://ziploan.in/
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