New Delhi, 19th February, 2019

Ziploan, India’s leading pure play MSME lending company has raised INR 90 crore in a Series B investment round led by SAIF Partners with participation from its existing investors which include WaterBridge Ventures, Matrix Partners India and WhiteBoard Capital. WaterBridge was the first institutional investor in Ziploan in May 2017 when the fund led their pre-Series A round.

ZipLoan is a technology enabled NBFC that provides small ticket business loans of up to INR 5 lakhs to micro enterprises and SMEs. The funds will be used to further grow the portfolio, expand the team, enter new geographies and enhance Ziploan’s technology platform.

India has an estimated 65M MSME’s contributing ~16% to the GDP but are credit starved. Currently operational in five cities, ZipLoan uses its proprietary risk assessment engine with digital data points, called ZipScore, to automate credit decisions and disburse loans in only 4 days from application. The company is the lender of choice for these micro SMEs with monthly disbursals growing 10X over the last year. Ziploan has co-lending and debt partnerships with leading banks and NBFCs such as IDFC First Bank, IndusInd Bank, Northern Arc, MAS Finance and Caspian Finance among others, allowing it to build a highly profitable and capital efficient business at scale. ZipLoan is currently operational in NCR, Mumbai, Indore, Lucknow, Dehradun and Jaipur.

“Our mission at Ziploan is to be the harbinger of small business lending revolution. With our focus on granular behaviours of different businesses, we have been able to scale up Ziploan by 10 X in last 12 months, having disbursed INR 150 Cr with a quality loan portfolio. We are glad to have investors such as SAIF Partners, Matrix Partners and Waterbridge participate in this round and help us achieve our vision” – Kshitij Puri, Co-founder & CEO, Ziploan

“We at Ziploan believe that small business owners are the real change makers in India and by solving their biggest pain point i.e. access to organised finance, Ziploan can create a very big impact in the society. Ziploan has developed proprietary technology and machine learning powered applications to serve this segment at scale. We feel inspired partnering with SAIF, Matrix and Waterbridge who have helped build many successful Institutions in the past.” – Shalabh Singhal, Co-founder and COO, Ziploan

“We partnered with Ziploan at a very early stage and it is gratifying to see the growth and scale into which the company has evolved. MSME lending is a very large market opportunity but has tough execution challenges. We remain impressed by ZipLoan’s approach to solving this problem and are privileged to partner with Kshitij and Shalabh on their journey. We believe it’s still Day One for the company and the best is yet to come.” – Sarbvir Singh, Managing Partner, WaterBridge Ventures

“We are excited to partner with the Ziploan in their mission to make small business lending efficient and hassle-free. We were impressed by the team’s ability to demonstrate strong growth, capital efficiency and robust book quality driven by their proprietary ZipScore. We’re confident the team will continue to scale and execute on their vision of being the preferred lender for micro SMEs” – Mridul Arora, Managing Director, SAIF Partners

“We believe in Ziploan’s online-offline approach of honing a proprietary ZipScore coupled with low cost operations and acute collection focus. This combination enables  scale while accounting for the reality of working with Indian SMEs. As early investors in Ziploan we are privileged to partner with Kshitij and Shalabh and believe in their vision of building a SME focused financial services company” – Vikram Vaidyanathan, Managing Director, Matrix India

About the founders: Ziploan was founded in 2015 by Kshitij Puri and Shalabh Singhal. Kshitij has strong experience in retail banking, credit underwriting and private equity. Prior to founding Ziploan, he was a Principal at Pragati India Fund. Shalabh is a technologist who is a graduate from IIT BHU and started his career with Goldman Sachs.

About Ziploan: Ziploan was founded in 2015 with an aim provide unsecured loans to MSME’s using technology. The team has developed its own proprietary underwriting and scoring algorithm in addition to using technology and data driven decision making for sourcing and portfolio management. More information can be found at

About WaterBridge Ventures: WaterBridge Ventures is an early stage venture capital firm founded in 2016. The firm is sector agnostic and looks to invest in early stage tech companies. WaterBridge has offices in Delhi and Bangalore with a global investor base. More information can be found at