Loanzen, which is a startup that offers financial solutions to the logistics industry, has now secured funding from the Zephyr Peacock India Growth Fund.
Moreover, financial details have not been disclosed. Some other existing investors like Kae Capital also participated in the round said the announcement.
“Loanzen will invest the funds raised in development of technology, build data analytics teams, scale operations in existing locations across Karnataka and expand to new markets,” it added.
“Given the rapid growth in the logistics segment with increasing penetration of technology, we are looking to scale up over the coming year… We are planning to target a Rs 75 crore-Rs 80 crore loan book addressing a base of over 2,000 customers in the coming year,” Loanzen Co-founder Madhu Sudhan said.