The investment will be spent mainly in R&D, operations, and building the workforce
Biz2Credit, provider of an online marketplace for small business funding, eyeing expansion in India by making an investment of $100 million over the next 5 years.
The investment will be spent mainly in R&D, operations, and building the workforce.“We are delighted to see such massive growth in our business in India, this gives us the hope to further invest in Indian operations. Despite the uncertainties that two waves of the Coronavirus pandemic unleashed, we have clocked a massive growth in the revenue with 15-plus new client wins and eyeing a greater leap in the next 10-12 months. I want to applaud the government’s initiatives for bringing ample of new opportunities for the Fintech sector which gives the sector a quantum leap. The fintech business model is now working with a remarkable and consistent framework that enables entrepreneurs, business owners, proprietors, and even banks and NBFCs to go through huge information and make better choices in their businesses,” said Rohit Arora, chief executive officer, and co-founder, Biz2Credit.
The company is bringing a lot of new employment opportunities for the young graduates in the country in both technical and service-based roles.
Biz2Credit is the company behind Biz2X, a global SaaS platform that enables financial institutions to provide a customized online lending experience for their small and midsize business customers. The flagship Biz2X platform has been completely conceptualized, designed and developed in India and is the epitome of Make-in-India in the global market. Recently, the company has expanded its footprint in Singapore and Dubai and signed contracts with leading Banks in both countries.
“The Indian market holds immense potential for Fintech companies like ours and it is extremely important for our next phase of growth. We at Biz2Credit support the government's mission of the Make in India program by making huge investments in Indian talent and portraying India as a hub of R&D on the global front. Our employees are our greatest asset, as we are looking for a multifold growth in the coming 10-12 months, we are aggressively hiring for both service-based and technical profiles to strengthen our white-labeled platform,” added Vineet Tyagi, global chief technology officer, and country head, Biz2Credit India.
Biz2Credit was founded in 2007 and is backed by Nexus Venture Partners. Since its inception, Biz2Credit has become the leading online marketplace for small business funding, having arranged more than $8 billion in small business funding for thousands of companies throughout the US. Biz2Credit is expanding its industry-leading technology in custom digital platform solutions for leading banks and other financial institutions, investors, and service providers in the U.S., India, Australia, and Canada.