CredRight, a Hyderabad-based non-banking financial company serving nano and micro enterprises, has raised $10 million in a Series B round led by Abler Nordic’s Fund V. Existing backers Michael & Susan Dell Foundation and Unleash Capital also participated, bringing the company’s total capital raised since August 2023 to nearly $20 million.
The fresh capital will fuel an expansion of CredRight’s loan book, enhancements to its technology platform, and deeper penetration into Tier II–IV towns, where formal credit remains scarce. Co-founder Neeraj Bansal highlighted the opportunity: “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”.
Founded in 2016 by Bansal and Vineet Jawa, CredRight operates a phygital model, combining a digital lending platform with 125 low-cost physical branches across four states. To date, it has extended loans averaging ₹4 lakh at 24–27% interest, repayable over 36 months, to over 20,000 micro-entrepreneurs such as shopkeepers and small traders traditionally excluded from formal finance.
India’s MSME sector faces an estimated $530 billion credit shortfall, with $169 billion concentrated in the micro segment. Only 14% of the country’s 64 million micro-entrepreneurs currently have access to individual business loans, underscoring the sector’s untapped potential.
Arthur Sletteberg, Managing Director at Abler Nordic, noted, “By supporting CredRight with patient capital and active ownership, we aim to back a locally rooted solution that effectively addresses this gap”. As regulatory scrutiny on unsecured loans intensifies, CredRight’s 3× growth since its last round validates its risk-management approach and positions it strongly against peers like Kinara Capital, Varthana, Aye Finance, U GRO Capital, and Indifi.
