CredRight has successfully raised $10 million in a Series B funding round led by Abler Nordic, marking the first investment from Abler Nordic’s newly established Fund V. This fresh capital injection comes at a crucial time for India’s micro, small, and medium enterprise (MSME) lending ecosystem, which continues to face a credit shortfall estimated at $530 billion, with a significant portion attributed to the micro-enterprise sector.
The round also saw continued support from existing investors, including the Michael & Susan Dell Foundation and Unleash Capital, reinforcing investor confidence in CredRight’s robust business model and growth trajectory. With Abler Nordic now emerging as the company’s largest equity investor, this funding will play a pivotal role in bolstering CredRight’s loan book, upgrading its digital lending technology, and accelerating outreach to tier-II to tier-IV towns and rural areas where formal credit access remains severely limited.
Founded in 2016 by Neeraj Bansal and Vineet Jawa, CredRight employs an innovative “phygital” approach, blending a digital-first loan platform with an on-ground network of 125 low-cost branches spanning four states. This hybrid model allows the company to maintain a personal connection with over 20,000 micro-enterprises, primarily shopkeepers and traders who have traditionally been excluded from mainstream credit.
According to CredRight, the average loan ticket stands at INR 4 lakh, with interest rates ranging from 24% to 27% and a tenure of 36 months, reflecting a sustainable and scalable credit delivery structure for underserved entrepreneurs. This funding round comes against the backdrop of heightened regulatory scrutiny from the Reserve Bank of India (RBI) on unsecured lending, which has posed challenges for many NBFCs seeking fresh capital.
Arthur Sletteberg, Managing Director of Abler Nordic, emphasised the strategic intent behind the investment, highlighting the fund’s commitment to empowering local solutions that address India’s vast MSME credit gap and prioritise long-term financial inclusion.
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Operating in a vibrant but competitive MSME lending landscape—alongside firms such as Aye Finance, Kinara Capital, and UGRO Capital—CredRight’s latest capital infusion is expected to help scale its operations, deepen governance, and extend tailored financial products to millions of micro and nano enterprises nationwide. This aligns with India’s broader ambition to leverage micro entrepreneurship as a catalyst for economic growth, aiming for a $10 trillion GDP in the coming decade.
