Lender to MSMEs BNF raises Rs.215-Cr led by Beams Fintech Fund

Beams Fintech Fund has led an INR 215-Cr equity investment in Mumbai-based Business Nextgen Finance (BNF). The transaction also included participation from Baring Private Equity India, Saison Capital, and Unleash. Following the investment, Beams Fintech Fund and its affiliates will hold more than 26% of the company's paid-up equity share capital on a fully diluted basis.Founded by Pankaj Poddar, BNF is a non-banking financial company (NBFC) that focuses on secured lending to micro, small and medium enterprises (MSMEs). It plans to use the new funds to strengthen its capital base, scale its technology-led secured lending platform, expand into underserved MSME markets, and improve access to formal credit for small businesses across India.