CredRight, a NBFC focused on nano and micro enterprises, has raised $10 million in Series B funding led by Abler Nordic, marking its first investment from the new Fund V.
The round also saw participation from existing investors, Michael & Susan Dell Foundation and Unleash Capital.
The fresh funds raised will be used to expand CredRight’s loan book, upgrade its technology platform and extend its reach to more entrepreneurs in Tier-2 to Tier-4 towns.
Founded in 2016 in Hyderabad by Neeraj Bansal, CredRight is a digital lending company 100% focused on Micro & Small businesses, making the process of availing loans simple.
CredRight operates a “phygital” model that blends digital lending with a network of 125 low-cost branches across four Indian states. The company currently serves more than 20,000 micro-enterprises—many of them small shopkeepers and traders excluded from formal credit. Its backers also include YourNest Venture Capital, 100Unicorns and Accion Venture Lab.
Neeraj Bansal, co-founder of CredRight, said, “Micro enterprises will play a significant role in India’s journey to a $10 trillion GDP. Access to institutional capital accelerates their growth and resilience. This fundraise, despite industry headwinds, is a testament to CredRight’s business model.”
Arthur Sletteberg, Managing Director at Abler Nordic, said, “This first investment from Fund V reflects both our confidence in CredRight’s model and our strong commitment to India as a priority market. By supporting CredRight with patient capital and active ownership, we aim to back a locally-rooted solution that effectively addresses this gap.”
Rakesh Goyal, Head – Financial Services, Michael & Susan Dell Foundation India, said, “Nano or micro entrepreneurs form the backbone of India’s economy, yet most lack access to fair and flexible capital. CredRight is changing that by blending technology with community reach, helping thousands of small businesses boost income, create jobs and achieve financial security.”
