CredRight raises $10m Series B to scale credit access for SMEs

By Vriti Gothi

CredRight, has raised $10 million in Series B funding. The round was led by Abler Nordic, marking its first investment from the newly launched Fund V, with participation from existing investors Michael & Susan Dell Foundation and Unleash Capital.

The capital infusion will strengthen CredRight’s loan book, upgrade its technology platform, and expand its footprint across Tier-2 to Tier-4 markets. Abler Nordic, now the company’s largest equity investor, will partner with CredRight’s leadership to scale operations, reinforce governance, and enhance long-term social impact.

Founded in 2016 in Hyderabad by Neeraj Bansal, alumnus of BIT Durg and IIM Lucknow, and Vineet Jawa, ISB alumnus and serial entrepreneur, CredRight operates on a unique “phygital” model that integrates a digital-first lending platform with a network of 125 low-cost branches across four Indian states. This hybrid approach has enabled the company to serve more than 20,000 micro-enterprises—primarily small shopkeepers and traders who remain outside the ambit of traditional credit systems.

Neeraj Bansal, Co-Founder of CredRight, said, Micro enterprises will play a significant role in India’s journey to a $10 trillion GDP. Access to institutional capital accelerates their growth and resilience. This fundraise, despite industry headwinds, is a testament to CredRight’s business model.”

India’s MSME sector faces a credit shortfall estimated at $530 billion, with $169 billion attributed to the micro-enterprise segment. Only 14% of India’s 64 million micro-entrepreneurs currently have access to individual business loans, leaving a vast segment underserved particularly in semi-urban and rural areas.

Arthur Sletteberg, Managing Director at Abler Nordic, said, “This first investment from Fund V reflects both our confidence in CredRight’s model and our strong commitment to India as a priority market. By supporting CredRight with patient capital and active ownership, we aim to back a locally-rooted solution that effectively addresses this gap.”

According to the 2023 60 Decibels Microfinance Index, more than 70% of CredRight’s customers reported increased income, higher savings, and stronger financial management after accessing its loans. Building on this momentum, CredRight has set an ambitious goal of empowering over 10 million nano enterprises across India’s underserved markets.