Highlights
Bizloan Secures Series A Funding for Growth
Bizloan, a non-banking finance company (NBFC) focused on delivering credit solutions to small enterprises, has successfully raised Rs 35 crore ($4.16 million) in a Series A funding round co-led by the Michael & Susan Dell Foundation and BLinC Invest. The company, based in Bengaluru, had earlier secured $2.77 million from Caspian Debt among other investors.
The newly acquired funds will be utilised to:
- Expand operations in underserved markets
- Enhance its range of loan products
- Invest in technology to optimise lending processes
Established in 2016 by a team comprising Rahul Jain, Abhishek Mishra, Girish Chawla, and Vikram Diwan, Bizloan is a registered NBFC (Type 2) with the Reserve Bank of India (RBI), committed to providing timely and accessible financial solutions for India’s 5.5 crore MSMEs (Micro, Small and Medium Enterprises).
Empowering Micro Enterprises
Bizloan aims to empower over 2,500 micro and nano enterprises within the next year by helping them secure the funding necessary for growth, especially in areas where access to conventional financing is scarce. The company has already made significant strides in the MSME sector, having disbursed approximately Rs 774 crore in loans across 26 branches. Thus far, it has supported more than 3,000 entrepreneurs in important regions including:
- Haryana
- Uttar Pradesh
- NCR (National Capital Region)
- Karnataka
- Rajasthan
Unique Evaluation Methodology
Bizloan employs the ABC (Asset, Behaviour, Cashflow) methodology to assess borrowers, who predominantly come from informal income backgrounds or are new to credit. The company seeks to eliminate financial barriers and promote sustainable growth among unorganised MSMEs. Bizloan is poised to scale its operations, introduce additional financial products, and further support small businesses across India, ultimately fostering growth within the Indian entrepreneurial ecosystem.
Competitive Landscape
Bizloan may face both direct and indirect competition from other key players in the market such as:
- Aye Finance
- Finova Capital
- NBFC Varthana
- Save Solutions