Biz2Credit Inc., a NYC-based online lending platform, completed a $52m Series B capital financing round.
The round was led by WestBridge Capital.
Led by Rohit Arora, CEO and Co-Founder, and led by Ramit Arora, President and Co-Founder, Biz2Credit provides an online lending platform for banks and other financial institutions to manage small and medium business (SMB) lending processes and makes it easier and faster for SMBs to access working capital.
Its software enables banks and other financial institutions to streamline SMB and commercial lending while providing loan origination, servicing, monitoring and risk management, and data analytics tools.
The company, which was initially funded by Nexus Venture Partners, intends to use the funds for continued growth and global expansion of its platform.
The funds will be deployed to drive further growth in its marketplace lending business and support the continued expansion of Biz2X, its digital lending platform, through SaaS partnerships with global financial institutions. With live deployments of the Biz2X Platform in four major markets worldwide, the capital will allow accelerate the adoption of Biz2X globally.