Angel Investments
Devesh Sachdev invests $5-M in credit infra platform GLAAS; joins as co-founder & MD
Mumbai-based GLAAS , an embedded credit infrastructure platform for MSMEs (micro, small and medium enterprises), has appointed Devesh Sachdev, founder of Fusion Finance, as its co-founder and managing director. Sachdev is also investing USD 5 million in the company.Established in 2021 by Bhupesh Morye, Santosh Shetty, Shailesh Dixit, and Sanjeev Kumar, GLAAS enables digital ecosystems to offer real-time working capital solutions to MSMEs. GLAAS functions as the go-to-market platform, while its in-house NBFC, Gromor Finance, focuses on addressing MSME working capital needs. The new funds will be used to bolster the balance sheet of Gromor Finance, expand GLAAS's co-lending partner ecosystem, and scale its presence across digital platforms.GLAAS claims to have disbursed over INR 1,200 crore in loans to date. The platform integrates with digital ecosystems such as e-commerce, payments, and supply chain platforms to provide contextual credit to MSMEs. It leverages transaction data and API-led integrations to facilitate instant underwriting, seamless disbursals, and automated repayments.
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