GrowXCD
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Overview
GrowXCD is a fintech startup, founded in 2022, that operates as a Non-Banking Financial Company (NBFC) in India. The company primarily serves micro, small, and medium enterprises (MSMEs) and low-income households by extending property-backed mortgage loans and unsecured business loans. Founded by Arjun Muralidharan and Sathish Kumar Vijayan, GrowXCD is headquartered in Chennai, Tamil Nadu, with a significant operational presence across southern India. As of September 2025, GrowXCD has raised substantial funding from notable investors, including Lok Capital and UC Impower, highlighting its growing influence in bridging the credit gap within underserved markets.
Recent Developments
- September 2025: GrowXCD is set to raise INR 200 crore (around USD 22.7 million) in its Series B funding round, prominently led by Blue Earth Capital with substantial contributions from Prosus and existing investors like Lok Capital and UC Impower. This funding round boosts the company's valuation to an estimated INR 630 crore (around USD 71.5 million), reflecting a significant increase from its previous valuation of INR 215 crore.
- Early 2025: Preceding the Series B, GrowXCD secured INR 50 crore in a pre-Series B round. This investment was crucial for expanding the company's portfolio and market reach into underserved rural and semi-urban areas of Tamil Nadu, Karnataka, and Andhra Pradesh.
- Fiscal Year 2025: The company reported a dramatic fiscal growth with revenues surging over sevenfold to INR 27 crore compared to INR 3.73 crore the previous year, although losses expanded to INR 8.17 crore during the same period.
- January 2025: Before the Series B, GrowXCD finalized a Series A funding round totaling USD 5.77 million led by Lok Capital and UC Impower. This capital injection was targeted at enhancing the company's service offerings and expanding its footprint across southern India.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2022 |
| Headquarters | Chennai, India |
| Founders | Arjun Muralidharan, Sathish Kumar Vijayan |
| Revenue | INR 27 crore (FY 2025) |
| Profits | Loss of INR 8.17 crore (FY 2025) |
| Key Investors | Lok Capital, Blue Earth Capital, UC Impower, Prosus |
| Industry | Financial Services, Fintech |
| Number of Employees | 467 |
Early History
GrowXCD was established in January 2022 to fulfill the glaring financing gaps experienced by MSMEs and economically weaker sectors in India. The founders, Arjun Muralidharan, a veteran in MSME lending, and Sathish Kumar Vijayan, envisioned creating a dynamic NBFC capable of extending credit to underbanked populations. Armed with a license from the Reserve Bank of India, GrowXCD began its journey by targeting Tier II and Tier III cities, where conventional banking services were limited. The company launched its flagship loan products, GrowShubam, a property-backed mortgage service, and GrowVyapaar, an unsecured business loan alternative, delivering customized financial solutions tailored for micro-entrepreneurs and low-income households.
Company Profile and Achievements
Since its inception, GrowXCD's business model has revolved around providing accessible credit solutions to MSMEs and individuals lacking sufficient financial backing. Noteworthy milestones in its journey include:
- January 2022: Received RBI certification allowing operations as an NBFC, marking the official launch of its financial services.
- June 2023: Successfully initiated business operations, quickly building a lending portfolio of INR 130 crore primarily focusing on semi-urban and rural regions.
- November 2023: Secured a Series A funding round of INR 50 crore, with strategic input from Lok Capital and UC Impower, which facilitated rapid geographical expansion.
- FY 2025: Achieved remarkable revenue growth, albeit with increased operating losses, indicating aggressive market positioning and expansion strategies.
Current Operations and Market Position
GrowXCD continues to play a pivotal role in the southern Indian financial landscape. With a robust presence across Tamil Nadu, Karnataka, Andhra Pradesh, and Puducherry, the NBFC focuses on penetrating untapped rural markets with its innovative lending solutions. As of 2025, GrowXCD plans to escalate its lending portfolio to INR 500 crore by March 2026 and expand its technological infrastructure to cater more efficiently to its customer base. Despite challenges in profitability, the company's valuation increase and continuous investment interest reflect its strategic importance in the MSME and low-income lending market.
Conclusion
GrowXCD has emerged as a significant player in India's fintech sector, aiming to alleviate financial disparities experienced by small business owners and low-income individuals. Its successful funding rounds and persistent revenue increases lay groundwork for future expansions. By leveraging new capital and enhancing its digital lending capabilities, GrowXCD is well-poised to become a leading force within the Indian non-banking financial ecosystem.