Synopsis
Non-banking finance firm Prayaan Capital has raised Rs 110 crore led by High XV Partners, fixed with an announcement. Dilapidated Five Well-known particular person Business Finance CEO Rangarajan Krishnan not too prolonged ago obtained a controlling stake within the 2018-founded Prayaan Capital.
ETtechNon-banking finance firm Prayaan Capital has raised Rs 110 crore led by High XV Partners, fixed with an announcement. Dilapidated Five Well-known particular person Business Finance CEO Rangarajan Krishnan not too prolonged ago obtained a controlling stake within the 2018-founded Prayaan Capital.
The commentary mentioned that the capital shall be used to construct Prayaan Capital’s lending platform, lengthen its crew, and develop its presence all over key MSME markets in India.
The firm plans to focal point on loans to micro, small and medium enterprises (MSMEs), a phase that continues to face a mammoth funding shortfall, it mentioned, including that the credit score gap for India’s MSMEs is pegged at about $300 billion.
“Small businesses are the backbone of India’s economy, yet millions remain underserved by formal credit. Prayaan Capital is built on the belief that combining deep customer understanding with technology can meaningfully expand access,” Krishnan mentioned. He stepped down as the Five Well-known particular person Business Finance’s CEO in August final twelve months.
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