Hyderabad: Hyderabad-based lending platform CredRight has secured $10 million in its Series B funding round, led by Abler Nordic, which made the investment through its newly launched Fund V.Â
Existing investors, the Michael & Susan Dell Foundation and Unleash Capital, also participated. With this round, Abler Nordic has become CredRight’s largest equity investor.
The fresh capital will be used to strengthen the company’s loan book, enhance its technology platform, and expand its reach across Tier-2 to Tier-4 markets. Abler Nordic will also work with CredRight’s leadership team to scale operations, reinforce governance, and drive long-term social impact.
Founded in 2016 by Neeraj Bansal, an alumnus of BIT Durg and IIM Lucknow, and Vineet Jawa, an ISB graduate and serial entrepreneur, CredRight follows a “phygital†model that combines a digital-first lending platform with 125 low-cost branches across four Indian states. This approach has enabled the company to serve over 20,000 micro-enterprises, primarily small shopkeepers and traders excluded from traditional credit systems.
According to CredRight’s co-founder Neeraj Bansal, micro-enterprises are set to play a critical role in India’s journey to a $10 trillion economy, and access to institutional capital will accelerate their growth and resilience. He said the latest fundraiser, despite challenging industry conditions, validates the company’s business model.
India’s MSME sector faces a credit gap of $530 billion, of which $169 billion is attributed to micro-enterprises. With only 14% of 64 million micro-entrepreneurs having access to business loans, CredRight aims to fill this underserved gap.
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