WestBridge Capital leads $52 mn funding in online lending platform Biz2Credit

WestBridge Capital leads $52 mn funding in online lending platform Biz2Credit
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7 Jun, 2019

Online lending platform Biz2Credit Inc. said it has raised its Series B funding round of $52 million (Rs 360 crore at current exchange rate) led by private equity firm WestBridge Capital.

This is the second round of equity financing for Biz2Credit; the company was initially funded by Nexus Venture Partners.

Biz2Credit said in a statement it will use the fresh funding to expand its marketplace lending business as well as support the expansion of Biz2X – its digital lending platform for banks and financial institutions – through partnerships with global entities.

Biz2X enables banks and other financial institutions to streamline small and medium business (SMB) and commercial lending while providing state-of-the-art, end-to-end loan origination, servicing, monitoring and risk management, and data analytics tools.

“In a market filled with online lending solutions, Biz2X is a truly differentiated platform to automate banks’ business and commercial lending. The technology, coupled with Biz2Credit’s risk management and data analytics tools, and backed with performance data of over $2 billion of funding so far, gives banks an omni-channel experience to seamlessly scale up digital lending across multiple markets,” said Rohit Arora, chief executive and co-founder of Biz2Credit. 

Biz2Credit was founded in 2007 by Rohit Arora and Ramit Arora. 

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