New Delhi: Online lending platform ZipLoan has raised Rs 15 crore (about $2 million) in debt funding from Strides Ventures.
This is Strides Ventures’ debut transaction in the digital lending segment, the venture debt firm said in a statement.
“The company [ZipLoan] has exhibited tremendous growth without compromising the quality of the loan book,” said Ishpreet Gandhi, managing partner at Stride Ventures.
ZipLoan’s non-performing assets are less than 3% of its total loan book, said Kshitij Puri, the startup’s co-founder and CEO.
ZipLoan, operated by Delhi-based Blue Jay Finlease Ltd, was launched in 2015 by Puri and Shalabh Singhal. It offers loans of Rs 1 lakh to Rs 5 lakh for a period of six to 24 months to micro, small and medium-sized enterprises.
