CredRight
Overview
CredRight is a financial technology company headquartered in Hyderabad, India, offering digital lending solutions to small and micro enterprises. Founded in April 2016 by Neeraj Bansal and Vineet Jawa, the company focuses on supporting businesses with limited access to formal credit. As of August 2025, CredRight has raised a total of approximately $26.2 million in funding. The company employs a "phygital" approach, combining digital platforms with a physical presence through its network of branches.
Recent Developments
- August 2025: CredRight successfully raised $10 million in Series B funding, led by Abler Nordic. This investment marks Abler Nordic’s first deployment from its new Fund V and aims to support CredRight’s expansion in providing credit solutions to underserved markets. The funding will be utilized to expand CredRight's loan portfolio, enhance its technology infrastructure, and extend its reach to Tier-2 to Tier-4 towns across India. Source
- August 2023: Prior to its latest funding round, CredRight raised approximately $9.7 million through a combination of equity and debt, with significant contributions from the Michael & Susan Dell Foundation and other investors. The funds were directed towards scaling operations and enhancing digital capabilities.
- General: In recent years, CredRight has enhanced its "phygital" model by expanding its branch network to 125, allowing it to effectively serve over 20,000 micro-enterprises across four states. This model aims to provide micro enterprises with better access to institutional capital, which is critical in bridging the substantial credit gap affecting India's MSME sector.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | April 2016 |
| Headquarters | Hyderabad, India |
| Founders | Neeraj Bansal, Vineet Jawa |
| Revenue | $4.26M (as of March 31, 2024 for CredRight Finance Private Limited) |
| Profits | Not publicly disclosed |
| Key Investors | Abler Nordic, Michael & Susan Dell Foundation, YourNest, Accion |
| Industry | Financial Services, Fintech |
| Number of Employees | 1010 (as of April 2025) |
Early History
Founded in 2016 by Neeraj Bansal and Vineet Jawa, CredRight originated from the need to improve access to formal credit for micro and small enterprises in India. The founders, leveraging their backgrounds and expertise in finance, identified a significant market gap where many enterprises continued to struggle with obtaining necessary funding. Initially, CredRight focused on integrating digital technologies with traditional lending processes to offer a seamless loan acquisition journey. By February 2017, CredRight secured its first round of funding, which laid the groundwork for technological advancements and branch expansions crucial to its early growth.
Company Profile and Achievements
CredRight operates as a digital lender catering to small and micro enterprises primarily excluded from traditional banking systems. Over the years, it has accomplished several key milestones:
- Extended Geographical Reach: Established a comprehensive network of 125 branches in four Indian states, extending services to over 20,000 enterprises.
- Notable Funding Rounds: Raised a cumulative total of $26.2 million through multiple rounds; key investors include established names like Michael & Susan Dell Foundation and YourNest.
- Unique Business Model: Adopted a "phygital" model, blending physical branch presence with cutting-edge digital lending capabilities, which improves loan accessibility.
- Technology Integration: Continuously upgraded its technology platform to simplify the lending process, focusing on reducing time and increasing accessibility for micro and small enterprises.
- Recognized Industry Contributor: Contributes to closing the $530 billion MSME credit gap in India by providing accessible, efficient, and reliable credit solutions.
Current Operations and Market Position
CredRight continues to expand its operations by focusing on underserved market segments. With its robust framework in place, the company is now regarded as a pivotal player in the fintech landscape of India, specifically targeting micro and small enterprises. It aims to democratize credit access for these segments, thus empowering them with the necessary capital for growth. Its strategic moves, including expanding branch networks and upgrading technological systems, help the company maintain a competitive edge over peers like FlexiLoans and Money View. By fostering a reliable credit environment, CredRight upholds its strategic advantage across the market while consistently aiming for an increased market share.
CredRight Finance Loan Details
CredRight offers unsecured loans primarily to micro and small businesses. The loans typically carry an interest rate between 24% and 27%, repayable over 36 months. These loans are designed to meet the specific needs of entrepreneurs and traders who are often overlooked by traditional financial institutions.
CredRight Finance Private Limited Reviews
CredRight Finance Private Limited is appreciated for its customer-centric approach tailored towards the unique needs of micro-enterprises. Its seamless digital and physical service model has garnered positive reviews among users, particularly for ease of accessibility and clarity in loan terms.
Conclusion
CredRight stands out as a significant entity in India's fintech sector, primarily addressing the needs of the micro and small enterprise markets. By leveraging its phygital model, CredRight efficiently merges digital innovation with traditional banking practices to reach underserved areas, thereby playing a crucial role in alleviating the prevailing credit gap in India. As CredRight continues to enhance its technological capabilities and expand its reach, it is well-positioned for sustained growth and a considerable influence in the lending space, contributing meaningfully to India’s $10 trillion GDP target.