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Impact investors Lok Capital and UC Impower have together put in Rs 50 crore equity in non-bank startup GrowXCD Finance, which provides loans to small businesses in Tamil Nadu, Karnataka and Andhra Pradesh.
“The fresh capital will be utilised to expand our portfolio, go deep into the untapped markets in southern India and to bridge the credit gap in the rural MSME landscape,” GrowXCD Finance’s founder-cum-managing director, Arjun Muralidharan, told ET.
The company has customers in tier II and III cities.
Lok Capital invested Rs 20 crore in the…
