Javascript on your browser is not enabled.

Advertisement

Stride Ventures Invests Rs 15 Cr In ZipLoan

The investment underlines the firm’s commitment to leverage traditional banking capital to cater to the startup ecosystem.

Stride Ventures, one of India’s leading venture debt funds, has led a debt round of Rs 15 crore in ZipLoan, a technology-enabled lending platform that provides loans to MSMEs. Through their customized offerings and deep relationships across banks and corporates, Stride aims to be a strategic partner in Ziploan’s journey.

This is Stride’s first foray into Fintech lending and the amount will be disbursed across two tranches. The investment underlines the firm’s commitment to leverage traditional banking capital to cater to the startup ecosystem.

ZipLoan caters to the need of working capital loans for kirana stores and micro industries. Its proprietary ZipScore platform, that tests creditworthiness of a borrower, has so far helped it maintain its non-performing assets (NPA) at under 3%.  

Ishpreet Gandhi, Founder and Managing Partner, Stride Ventures, said “We are excited to partner with ZipLoan in their pursuit to revolutionize lending to small business owners. 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 & CEO, ZipLoan, added, “We are privileged to partner with Stride Ventures as they help us realise our mission of addressing funding needs of small business owners. 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.” 

Stride Ventures launched its maiden fund in 2019 with a target corpus of Rs 500 crores and plans to invest in 35-40 startups over the next 3 years.


Tags assigned to this article:
Stride Ventures ZipLoan

Around The World

Advertisement