Rohit Arora, CEO and Co-Founder of Biz2Credit

New-York-based online lending platform, Biz2Credit has announced that it has completed a Series B capital financing round of $52 million led by the WestBridge Capital. Biz2Credit helps banks and other financial institutions manage small and medium business (SMB) lending processes and makes it easier and faster for SMBs to access working capital with the company initially being funded by Nexus Venture Partners.

Biz2Credit plans on using the funds to further improve it position in the world of business lending and the continued expansion of Biz2X, the company’s state-of-the-art digital lending platform, through SaaS partnerships with global financial institutions

“In a market filled with online lending solutions, Biz2X is a truly differentiated platform to automate banks’ business and commercial lending,” said Rohit Arora, CEO and Co-Founder of Biz2Credit. “The technology, coupled with Biz2Credit’s risk management and data analytics tools, and backed with performance data of over $2 billion of funding to date, gives banks an omni-channel experience to seamlessly scale up digital lending business across multiple markets.

Sumir Chadha, Managing Director of WestBridge, added: “We are excited to partner with the impressive leadership team at Biz2Credit and to work with management to build upon the company’s track record of innovation. We have been highly impressed with the company’s success in partnering with many global financial institutions to power their digital lending. Biz2Credit is a great addition to our portfolio.”

by Megha Bhattacharya
Market Analyst at IBS Intelligence