Premji Invest leads ₹1,000cr Vegafin Capital round, buys Bizloan stake
Premji Invest led a ₹1,000 crore round in Vegafin Capital to help small businesses get easier access to loans.
The funding will go toward building an AI-powered platform that makes it simpler for lenders to assess credit risk, and also includes taking over a majority stake in Gurugram-based fintech Bizloan.
Bijith Bhaskar seeks AI credit assessment
Vegafin's founder Bijith Bhaskar wants to leverage AI and harness data from multiple sources for faster, granular, and accurate assessment of small-business credit risk.
This move fits right in with Premji's ongoing support for tech-driven finance. He's previously backed companies like Pramaana Labs and Databricks.
With this investment, Premji Invest is doubling down on AI solutions that could make borrowing smoother for India's small businesses.