Online lending platform Biz2Credit raises $52 Million (Rs. 360 Crore) in series B funding round
Biz2Credit Inc has raised $52 Million (Rs. 360 Crore) in its series B funding round led by WestBridge Capital.
Biz2X is a digital lending platform for banks and financial institutions – through partnerships with global entities.
Biz2X offers facilities to automate commercial lending and the bank’s business.
Lending money has always been common between humans before the era of digitalization and online transactions folks used to lend money physically in cash but as time and technology has reformed now the ways of lending money has reformed but still, the motto of lending money is same to gain profit from lend money. Now several startups are coming in action which is removing loopholes present in the traditional lending market to make it more convenient for both parties. Biz2Credit is one of the best startups in this domain.
Online lending platform Biz2Credit Inc has raised $52 Million (Rs. 360 Crore) in its second round of equity financing i.e. series B funding round led by private equity firm WestBridge Capital. The previous funding of $250 Million in series A funding round was led by Nexus Venture Partners. Company is planning to use raised funds in enhancing its marketplace lending business and assisting in the expansion of Biz2X. Biz2X is a digital lending platform for banks and financial institutions – through partnerships with global entities. It offers financial institutions and banks to streamline commercial landing and small and medium enterprises and also assists them by providing end-to-end loan organization, state of the art, monitoring and risk management, data analytics tool and servicing.
Biz2Credit came into action in 2017 by Tamir Arora and Rohit Arora. Rohit Arora, chief executive, and co-founder of Biz2Credit said about the Biz2X that it is a unique platform that offers facilities to automate commercial lending and bank’s business. The technology bestowed with Biz2Credit’s data analytics tool and risk management and backed with $2 Billion funding so far offers banks an omnichannel platform to scale up digital lending across various markets.
Biz2Credit is reforming digital lending platform by its various advanced technological methodologies and innovations.
About WestBridge Capital
WestBridge Capital is a world-renowned investment company, doing the business of over more than $2 billion of capital. It targets to make investments in India. It partners with few of India’s highly trustworthy mid-sized companies operational by excellent entrepreneur and well-skilled management teams of private as well as public sector companies.
It assists companies by providing capital as well as experience to get succeed in Indiana and the global market. It invests in a range of $10 million to $80 million, often resulting in its major acquitted in the company next to the cofounder of the company.
It is founded by Sumir Chadha, KP Balaraj, Sandeep Singhal and SK Jain. These are also cofounder of Sequoia Capital, India. In previous 15 years team has led a funding round of over 80 companies and has invested more than $1.6 billion. This team of 4 persons id highly valued in industry and are assisting several startups in growing to their maximum heights.
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