Bizloan secures Rs 35 Cr in series A funding

Bizloan, a non-banking finance company (NBFC) which provides credit solutions to small businesses, has secured Rs 35 crore in its series A round.

The funding round was led by the Michael & Susan Dell Foundation and BLinC Invest, with Resurgent India as Bizloan’s advisor, the company said in a statement.

The company plans to use the raised capital to expand its reach in underserved markets, enhance its suite of loan products, and invest in cutting-edge technology to streamline its lending operations.

It aims to support over 2,500 micro and nano enterprises in the next 12 months, providing capital to drive growth, especially in regions underserved by traditional financing.

“The current round of investment shall help the Company enter the next phase of fast-paced growth by expanding its footprint in Bharat, and further the objective of simplifying credit for small businesses, which remain underserved, particularly in smaller towns and cities,” said Rahul Jain, CEO, Bizloan Private Limited.

“We are actively investing in technology as a driver for better operational efficiency. The pedigree of investors shall help to develop and nurture sustainable talent which in turn shall help further the vision of the Company,” he added.

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Bizloan has disbursed around Rs 774 crore in loans through 26 branches, providing financial support to more than 3,000 entrepreneurs across regions such as Haryana, Karnataka, Uttar Pradesh, NCR, and Rajasthan.

“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," said Rakesh Goyal, Director, Michael & Susan Dell Foundation.

(The feature image was updated)