MSME Lending Platform Bags $3M In Series A Round Of Funding
Online lending platform Ziploan has raised $3 million in a Series A round of funding led by Matrix Partners India. The funding round also saw participation from its existing pre-series investor WaterBridge Ventures, Whiteboard Capital and former Capital18 MD, Sarbvir Singh.
Delhi-based Ziploan is an MSME lending platform which is now planning to utilise the freshly raised funds to expand geographically, targeting non-metro cities. With the funds in hands, it will also increase its loan book size.
Talking about the investment, Matrix Partners India MD Vikram Vaidyanathan said, “With over 40 Mn SMEs, SME-lending is a large opportunity, but with tough execution challenges. We believe a cautious, technology-led approach can bring down underwriting and sourcing costs enough to serve the SME...