Lok Capital and UC Impower invest Rs 50 crore in GrowXCD Finance

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Impact investors Lok Capital and UC Impower have together put in Rs 50 crore equity in non-bank startup GrowXCD Finance, which provides loans to small businesses in Tamil Nadu, Karnataka and Andhra Pradesh.

“The fresh capital will be utilised to expand our portfolio, go deep into the untapped markets in southern India and to bridge the credit gap in the rural MSME landscape,” GrowXCD Finance’s founder-cum-managing director, Arjun Muralidharan, told ET.

The company has customers in tier II and III cities.

Lok Capital invested Rs 20 crore in the…



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Lok Capital and UC Impower invest Rs 50 crore in GrowXCD Finance


Impact investors Lok Capital and UC Impower have together put in Rs 50 crore equity in non-bank startup GrowXCD Finance, which provides loans to small businesses in Tamil Nadu, Karnataka and Andhra Pradesh.

“The fresh capital will be utilised to expand our portfolio, go deep into the untapped markets in southern India and to bridge the credit gap in the rural MSME landscape,” GrowXCD Finance’s founder-cum-managing director, Arjun Muralidharan, told ET.

The company has customers in tier II and III cities.

Lok Capital invested Rs 20 crore in the…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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