Digital lending platform Abhi Loans raised $4.5 million in a loan and equity round that was co-led by DMI Sparkle Fund and included participation from notable angel investors including Niten Malhan, Ashvin Chadha, and S K Jain.
The rapid approval and distribution of loans secured by securities provided as collateral is Abhi Loans’ distinctive selling advantage. Additionally, it is entering the market with loans backed by mutual funds and stocks. According to the corporation, the additional cash would be used for technology development and loan book expansion. KNAB Finance is developing a distributed and secure credit environment with its Abhi Loans product.
By 2025, lending technology is anticipated to make up 47% ($616 billion) of India’s total fintech industry opportunity, expanding at a CAGR of 31% from 2021 to 2025.