GrowXCD Finance raises Rs 200 Cr led by Blue Earth Capital

GrowXCD Finance, a startup lender to small businesses, has raised Rs 200 crore from Blue Earth Capital and Prosus Ventures. Blue Earth Capital led the round with Rs 105 crore, while Prosus invested Rs 70 crore.

Entrackr had exclusively reported the current round last month.

This is GrowXCD’s second equity raise this year. In January, it secured Rs 50 crore from Lok Capital and UC Impower. Lok Capital, which first invested in November 2023, increased its stake with Rs 21 crore, while UC Impower contributed Rs 4 crore. Lok Capital’s cumulative investment in GrowXCD now stands at about Rs 93 crore, making it the largest shareholder.

“The capital infusion will help us expand our portfolio and branches, besides strengthening our technology backbone. This funding will support the next 12–18 months of business,” said Arjun Muralidharan, founder of GrowXCD Finance.

Launched in 2022, GrowXCD lends to micro, small, and marginal enterprises (MSMEs) as well as salaried employees in tier-II and tier-III towns across southern India. It currently operates 67 branches in Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, and Puducherry.

The company aims to increase its assets under management (AUM) to Rs 500 crore by March 2026 from the current Rs 300 crore. It also plans to open 40–50 new branches by March 2027 and explore expansion into states such as Madhya Pradesh, Maharashtra, and Uttar Pradesh.