Biz2Credit closes $52m Series B round
Biz2Credit, the online platform that supports SME lending processes, has completed a $52 million Series B capital financing round led by WestBridge Capital, reports Jane Connolly.
Funds will be used to drive further international growth.
Already live in four major markets worldwide, Biz2Credit will use the funds to drive further international growth. The investment will also support the continued expansion of its digital lending platform, Biz2X, through software-as-a-service (Saas) partnerships with global financial institutions.
Biz2X aims to help SMEs access working capital more quickly and easily by providing banks and financial institutions with end-to-end loan origination, servicing, monitoring, 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,” says Biz2Credit co-founder and CEO, Rohit Arora.
“The technology, coupled with Biz2Credit’s risk management and data analytics tools, and backed with performance data of over $2 billion of funding to date, gives banks an omni-channel experience to seamlessly scale up digital lending business across multiple markets,” adds Arora.
The company’s first round of equity financing was funded by Nexus Venture Partners.
