ZipLoan, which is a leading online platform, has now secured the Rs 90 rating in the Series B financing round led by the venture capital and growth capital firm SAIF Capital.
Ziploan, which is operated by Blue Jay Finlease Ltd, based in Delhi, said in a report that some of the existing investors Matrix Partners India, Whiteboard Capital and Waterbridge Ventures also took an active part in this round.
The co-founder and CEO of Ziploan, K Puri, said the company aims to support small and medium-sized companies that have also now disbursed 150 million rupees to borrowers.
The company launched by Puri and Shalabh Singhal in 2015. Ziploan is a technology-enabled lending platform that provides loans to MSMEs. The start-up provides loans from Rs 1 lakh to Rs 5 lakh for a period of around 6-24 months.
Start-up uses an automated risk or credit assessment tool called ZipScore to assess the creditworthiness of potential customers. He has also developed a loan life cycle management product that helps reduce operating costs and even reduce response time to four days from the request to the disbursement.
In October 2017, Ziploan has obtained millions of rupees in the funding round led by the Matrix partners.
Ziploan had collected millions of rupees for the last time in a funding round led by Matrix Partners India in October 2017.
Image credits: ZipLoan