CredRight Secures $10M Series B to Expand MSME Lending in India

Hyderabad-based non-banking financial company CredRight has raised $10 million in a Series B funding round led by Abler Nordic's Fund V, marking Abler Nordic's first investment from the new fund and making it CredRight’s largest equity investor. Existing investors such as the Michael & Susan Dell Foundation and Unleash Capital also participated. The fresh capital will be used to expand CredRight’s loan book, upgrade its technology platform, and extend credit access to entrepreneurs in tier II to tier IV towns. Founded in 2016 by Neeraj Bansal and Vineet Jawa, CredRight uses a 'phygital' model combining digital lending with 125 low-cost physical branches across four Indian states, currently serving over 20,000 micro-enterprises often excluded from formal credit. The funding aims to address the significant credit gap in India's MSME sector, estimated at $530 billion, with $169 billion in the micro segment alone. CredRight competes with firms like Kinara Capital, Varthana, Aye Finance, U GRO Capital, and Indifi in the inclusive finance space.