Bizloan raises Rs 35 Cr in Series A funding to empower small businesses

The new funds will enable Bizloan to broaden its reach in underserved markets, diversify its loan offerings, and invest in cutting-edge technology to optimize its lending processes

Bizloan, a non-banking financial company (NBFC) committed to offering accessible credit solutions to small businesses, has raised Rs 35 crore in its Series A funding round. The investment was led by the Michael & Susan Dell Foundation and BLinC Invest, with Resurgent India acting as the advisor.

Expanding reach and enhancing offerings

The new funds will help Bizloan expand its operations in underserved markets, enhance its diverse loan products, and invest in advanced technology to streamline lending operations. With this funding, Bizloan aims to assist more than 2,500 micro and nano enterprises in the next year, focusing on regions where small businesses often struggle to access traditional financing options.

So far, Bizloan has disbursed Rs 774 crore in loans across 26 branches, supporting over 3,000 entrepreneurs in key markets like Haryana, Uttar Pradesh, NCR, Karnataka, and Rajasthan. The company has been pivotal in providing critical financial backing to businesses that are otherwise overlooked by mainstream banks and financial institutions.

Rahul Jain, CEO of Bizloan, commented on the funding round, saying, "This investment will fuel our growth and help us reach underserved regions in Bharat. We're committed to simplifying credit for small businesses and leveraging technology for better operational efficiency. Our investors’ support will allow us to build a strong talent pool, essential for scaling our mission of empowering small businesses."

Amit Ratanpal, Founder and Managing Director of BLinC Invest, highlighted the growth opportunities in smaller cities: "Indian Tier II and III cities are experiencing rapid growth and urbanization, driving the need for credit solutions for micro-entrepreneurs. Our collaboration with Bizloan will help bridge the credit gap and accelerate the growth of these businesses."

Rakesh Goyal, Director of the Michael & Susan Dell Foundation, added, "Access to formal credit is essential for small businesses to thrive. This funding supports our mission to empower micro and nano enterprises, providing them with the resources to fuel economic growth and create jobs."