CredRight Raises $10M Series B for Small Business Lending

CredRight, a new age digital lending company, has secured $10,000,000 in a recent funding round. This substantial investment from various investors is poised to accelerate the company’s mission of transforming how Micro & Small businesses in India access essential capital. The announcement signifies a pivotal moment for CredRight as it continues to expand its financial services offerings and deepen its market penetration. The company is dedicated to simplifying the loan application process for small business owners, enabling them to concentrate on their core operations and growth. CredRight specifically provides collateral-free and hassle-free working capital loans. Its model is built on leveraging technology to streamline lending, further strengthened by partnerships within India's established Chit Fund Industry, which provides strategic backing and expertise. CredRight's sole mission is to better the way Small Businesses are funded in India. The newly raised capital will be instrumental in supporting CredRight’s strategic growth initiatives. Plans include enhancing its digital lending platform, investing in technological infrastructure, and expanding its operational footprint across more regions in India. This financial infusion is expected to bolster its capacity to serve a larger segment of the underserved micro and small business sector, which often faces challenges in securing traditional financing. This funding round underscores investor confidence in CredRight’s business model and its potential to make a significant impact on India’s small business ecosystem. By increasing access to vital working capital, CredRight aims to empower more entrepreneurs and contribute to broader economic development, solidifying its position as a key player in the digital lending space. The company is set to pursue further growth and innovation in the coming period.