Lending platforms are among the hottest performers in India’s fintech sector, as they meet the demands of the country’s expanding business market. In April and May, 7 different lending platforms received large amounts of financing. On June 11, AYE Finance raised USD 21.5 million (Rs 147 crore) in funding from CapitalG and other investors. AYE Finance is an online lending platform for micro and small businesses in northern India. The startup will use the funds to increase its loan volume and boost its technology.
1. On June 7, Reculta raised an undisclosed amount in seed funding from CIIE (Centre for Innovation Incubation and Entrepreneurship). Reculta is a Noida-based campus recruitment site that helps colleges and recruiters simplify and improve the university recruitment process. The startup plans to use the funds to hire talent, develop its products, and expand into the global market.
2. On June 11, CredAble raised USD 14.8 million (Rs 100 crore) in a Series A round of funding led by Alpha Capital. CredAble is a Mumbai-based supply chain financing startup that combines technology, financing, deep learning, and analytics. The company plans to use the funds to scale up its operations and improve its technology.
3. On June 13, DailyNinja raised USD 3 million (Rs 20.5 crore) in funding from Saama Capital and Sequoia Capital. DailyNinja is a subscription grocery-delivery startup. The company plans to use the funding to strengthen its operations in Bengaluru and Hyderabad and expand to Chennai.
4. On June 14, HomeLane secured USD 3.54 million (Rs 24 crore) in funding from Brand Capital. HomeLane is a Bengaluru-based online home furnishing startup that specializes in customized home designs. The startup will use the funds to expand its business.
(Top photo from google)