Bizloan Sets Ambitious Growth Plans After Securing INR 35 Cr in Series A Funding The round was led by the Michael & Susan Dell Foundation and BLinC Invest, with Resurgent India serving as an advisor.
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Bizloan, a Gurugram-based Non-Banking Finance Company (NBFC) focused on providing credit solutions for small businesses, has announced the raising of INR 35 crore in its Series A funding round.
The round was led by the Michael & Susan Dell Foundation and BLinC Invest, with Resurgent India serving as an advisor.
The capital infusion will allow Bizloan to expand its footprint, particularly in underserved markets, enhance its loan product offerings, and invest in advanced technology to streamline its lending operations.
The company, which has already made a significant impact in the MSME sector, plans to further its mission of simplifying credit access for small businesses, especially in smaller towns and cities where traditional financial services are often out of reach.
Rahul Jain, CEO of Bizloan, stated, "The current round of investment shall help the company enter the next phase of fast-paced growth by expanding its footprint in Bharat. We aim to simplify credit for small businesses, particularly in smaller towns and cities where they remain underserved. With this funding, we will also actively invest in technology to drive better operational efficiency and continue developing sustainable talent."
Founded in 2016 by Rahul Jain, Abhishek Mishra, and Vikram Diwan, Bizloan is a Non-Banking Finance Company (NBFC-Type 2) registered with the RBI. The company has been instrumental in empowering India's 5.5 crore MSMEs with accessible and timely financial solutions.
To date, Bizloan claims to have disbursed INR 774 crore in loans across 26 branches, benefiting over 3,000 BIZ Experiencess in key regions like Haryana, Uttar Pradesh, NCR, Karnataka, and Rajasthan.
Bizloan's growth strategy is focused on empowering more micro and nano enterprises, with plans to reach over 2,500 businesses in the next year.
Amit Ratanpal, Founder and Managing Director, BLinC Invest, commented, "Indian Tier II and Tier III cities are witnessing a high growth rate and increasing urbanization, creating a high need for micro-entrepreneurs to expand their business, resulting in a monumental credit gap. Our partnership with the Bizloan Team aims to support these BIZ Experiencess in powering the Bharat growth engine with their technology-focused and innovative underwriting approach."
Rakesh Goyal, Director of Michael & Susan Dell Foundation, added, "Supporting small businesses is crucial for economic growth, but their access to formal credit remains limited. This funding marks a crucial step forward in our mission to empower micro and nano enterprises, providing them with the capital and financial tools they need to fuel business growth, increase household incomes, and create employment opportunities."
Bizloan's innovative approach to credit assessment, known as the ABC (Asset, Behaviour, Cashflow) methodology, allows the company to evaluate borrowers, most of whom come from informal income backgrounds or are new to credit. With this funding, Bizloan is poised to scale operations, introduce new financial products, and continue driving growth in India's vibrant BIZ Experiencesial ecosystem.
