Lending platform Biz2X crosses Rs 9,000 cr mark in loan disbursements
Source: Business Standard
Biz2X, a digital lending SaaS platform and subsidiary of Biz2Credit, on Tuesday said it has surpassed Rs 9,000 crore mark in loan disbursements.
One of the company’s key growth drivers is its AI-integrated digital lending platform, DigiKred, which plays a pivotal role in optimizing lending functions for Indian lenders.
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The platform is expected to facilitate an additional Rs 5,000 crore in loan disbursements by the end of FY2025, further scaling the platform’s reach and impact across the financial ecosystem, the company said in a release.
Th company has seen a consistent year-over-year growth rate of nearly 30 per cent.
In addition to its technology, Biz2X’s growth is powered by strategic collaboration with some of the most prominent financial institutions in India.
“Financial institutions, in turn, benefit from the platform’s advanced technological infrastructure including some ground-breaking AI innovations, which help them offer faster, more reliable lending solutions to their customers,” Biz2X said.
The company is also expanding its reach into global markets, including the UAE and Saudi Arabia.
This strategic expansion is poised to drive rapid client acquisition and deliver significant service enhancements in these key regions, the release said.
“Our AI-driven technology is not only accelerating loan approvals but is also enabling us to bring financial inclusion to the forefront of India’s digital lending ecosystem. We remain committed to expanding both domestically and internationally, creating sustainable growth for SMEs, fostering innovation, and driving the Indian fintech industry forward,” said Rohit Arora, Co-founder and CEO of Biz2Credit and Biz2X.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Oct 15 2024 | 3:59 PM IST
