Quick credit player Abhi Loans raises $4.5-M from DMI Group, angels

Bengaluru-based KNAB Finance Advisors Pvt Ltd, a non-banking finance company (NBFC), has raised USD 4.5 million in debt and equity for its digital lending platform Abhi Loans. DMI Sparkle Fund led the funding round along with angel investors such as Niten Malhan, Ashvin Chadha, and S K Jain. KNAB Finance offers quick credit to take care of the immediate need for liquid funds in times of cash crunch. The funds raised in the current round will be used for technology development and the growth of the loan book.