ZipLoan

SMEs-focused lending startup ZipLoan raises Rs 90 Cr Series B round led by SAIF

ZipLoan

SMEs-focused lending startup ZipLoan has raised Rs 90 crore in its Series B round led by SAIF Partners. The round also saw participation from existing investors Matrix Partners India, Waterbridge Ventures and Whiteboard Capital.

The Delhi-based fintech platform had earlier secured Rs 20 crore in equity fundraising led by Matrix Partners in October 2017. So far, the startup has raised around Rs 125 crore in risk capital.

The fresh proceeds will be used to grow its business, expand its offering in cities it is already present in like Delhi NCR, Mumbai, Indore, Lucknow, Dehradun, and Jaipur. Besides, a significant amount will be deployed towards growing its teach and sales workforce.

Launched in 2015 by Kshitij Puri and Shalabh Singhal, ZipLoan is a tech-enabled lending platform that provides loans to small businesses.

ZipLoan offers loans in the range of Rs 1 lakh to Rs 5 lakh over a period of 6-24 months. According to Puri, the company has been able to scale up by 10X in the last 12 months, having disbursed Rs 150 Cr with a quality loan portfolio, reports ET.

With minimal documentation requirement, it offers construction equipment loan, term loan and business loan for traders without security.

The company claims to have serviced 3,500 borrowers since its inception. Its proprietary ZipScore platform has helped to keep its non-performing assets (NPA) at under 2 per cent.

Ziploan is an NBFC licence holder and has partnered with lenders including IDFC First Bank, IndusInd Bank, Northern Arc, MAS Finance and Caspian Finance.

Apart from the equity rounds, the company has raised around Rs 200 crore in debt and looking to grab another Rs 250 crore debt fund in near future.

Capital Float, Indifi, Indialends, SME Corner, OfBusiness, and Lendingkart also offer loans to SMEs.

ZipLoan

SMEs-focused lending startup ZipLoan raises Rs 90 Cr Series B round led by SAIF

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Below is the bank details:

 
Amount: INR 3,00,000 + GST (TDS to be deducted 2%)
Bank Name: ICICI Bank
Account Type: Current
Account Name: Bareback Media Private Limited
Account Number: 002105023595
IFSC Code: ICIC0000021
 
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