Private Equity

PE-VC Fund Investments

Lender to SMEs CredRight raises $10-M led by Abler Nordic

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Hyderabad-based fintech startup CredRight has raised USD 10 million in a Series B round led by Abler Nordic, with participation from existing investors Michael & Susan Dell Foundation (MSDF) and Unleash Capital.The fresh funding will be used by the company to expand its loan book, upgrade its technology platform and extend its reach to more entrepreneurs in Tier-2, Tier-3 and Tier-4 towns.Founded in 2016 by Neeraj Bansal, CredRight provides collateral-free loans to micro- and small businesses.

Between Jun-18 and May-24, Credright had attracted about USD 16.74 M from Accion International, YourNest, Z Nation Lab, Earlsfield Capital, BlackSoil Capital, Caspian Advisors, Michael & Susan Dell Foundation, YourNest, Unleash Capital Partners, and others.For FY24, Credright had reported about INR 36.74 Cr in Operating Income and about INR 0.97 Cr in Net Loss.