GrowXCD Finance, a non-banking finance company headquartered in Chennai, has raised ₹200 crore from Blue Earth Capital and Prosus Ventures, along with participation from existing investors Lok Capital and UC Impower through a primary capital infusion.
Founded in 2022 by Arjun Muralidharan, GrowXCD enhance the economic growth of MSMEs and low-income households by providing them with access to capital. Operating more than 60 branches across Tamil Nadu, Karnataka, Andhra Pradesh, and Puducherry, GrowXCD caters to the financial needs of micro, small, and medium enterprises (MSMEs) in India by enabling institutional capital to seamlessly flow into retail assets secured by mortgages.
Serving small business owners and formal or cash-salaried employees, GrowXCD focuses on income generation, working capital, and business expansion needs, driving credit formalization in underserved segments. GrowXCD has established itself as a prominent player in the rapidly evolving MSME secured loan against property finance landscape, with a loan book exceeding ₹300 crore and industry-best asset quality, within 2.5 years of obtaining its NBFC license.
Arjun Muralidharan, Founder, Managing Director and CEO, GrowXCD Finance, said, “We are delighted to welcome Blue Earth Capital and Prosus to our cap table—prominent global investors who share our long-term growth vision and commitment to serve the underserved MSMEs. We further extend our gratitude to our early backer, Lok Capital, who has supported us since their initial investment in November 2023 and UC Impower, who continues to back our journey. This milestone marks a pivotal step as we expand our portfolio, deepen our presence in underserved southern markets, and bridge the credit gap in India’s MSME landscape, thereby empowering and uplifting livelihoods.”
Rohan Ghose, Director, Private Equity Partnerships at Blue Earth Capital, said, “GrowXCD’s mission to bridge the credit gap for underserved MSMEs in India aligns closely with our investment philosophy. By expanding access to capital, Arjun and his team are empowering entrepreneurs and households across southern India while scaling responsibly. This reflects Blue Earth Capital’s mission to back businesses like GrowXCD that aim to deliver both social and economic impact alongside solid financial performance. We are proud to support the company on its growth journey.”
Gaurav Kothari, Principal Investor, Prosus India, said, “India’s MSMEs form the backbone of our economy, yet remain significantly underserved on credit. With rapid digital adoption, greater formalization, and supportive government initiatives, we see a massive opportunity to build tech-led lending solutions for this segment. GrowXCD, with its secured LAP offering, robust technology platform, and experienced leadership team, is well-positioned to bridge this credit gap while delivering meaningful impact for small businesses and strong financial performance.”
Rajat Bansal, Managing Director, Lok Capital, said, “We are delighted to welcome Blue Earth Capital and Prosus to the cap table! We partnered with Arjun and Sathish on day zero, and it has been an exciting journey as they have brought GrowXCD to life. With a laser-sharp focus on governance and tech-led innovation, and now the support of Blue Earth and Prosus, GrowXCD is poised to be the 2.0 of MSME finance.”
Mona Kachhwaha, Co-founder and Partner, UC Impower, said, “UC Impower’s follow-on investment in GrowXCD reflects our conviction in the company, and we look forward to working with our new co-investors Blue Earth Capital and Prosus. GrowXCD’s mission to expand and deepen credit access to underserved MSMEs aligns perfectly with UC Impower’s, and with the exceptional execution capabilities of the team, ably led by Arjun and Sathish, we are excited to deepen our partnership with them as they build a business that delivers lasting social impact alongside sustainable growth.”
