Stride Ventures, a venture-debt fund firm, has led a debt funding round of INR 15 crore in Ziploan, a fintech lending platform that offers loans to the MSMEs.
According to the statement from the Stride Ventures, this is its first foray into the fintech lending, and the funding will be disbursed across the two tranches.
The firm even believes this funding underlines its commitment to leveraging traditional banking capital to cater to the startup ecosystem.
On the funding, Ishpreet Gandhi, Founder and Managing Partner, Stride Ventures, said, “It is our endeavour at Stride to make credit accessible and efficient as we try to prevent equity dilution and make entrepreneurs truly ‘Atmanirbhar’. The company has exhibited tremendous growth without compromising the quality of the loan book. We are confident that the company will continue to scale even in these challenging times.”
Kshitij Puri, Co-founder and CEO, ZipLoan, said, “The MSME segment is the most important contributor to our economy, but still continues to be credit starved. Even during the current crisis, the MSME segment has shown great resilience demonstrated by strong collections we have had.”