Biz2X Launhches ‘Maadhyam', A Made-in-India Cross-Channel Ecosystem Middleware for Lenders and Aggregators

The launch of middleware platform will support government’s mission of Aatmanirbhar Bharat and cater to the credit needs of SME and MSMEs and will streamline processes for banks and NBFCs

Fuelling the government’s mission of Aatmanirbhar Bharat, Biz2X, a leading Digital Lending SaaS platform that enables financial institutions to provide a customized online loan origination &servicing experience has launched ‘Maadhyam’, an integrated cross-channel ecosystem middleware that brings more than just automation and analytics to the lender-borrower equation. Maadhyam enables Banks & NBFC’s to lend more easily, efficiently, and effectively. At the same time, it gives Industry Aggregators the ability to facilitate seamless and real-time credit among their partner networks. Maadhyam benefits the SMEs by opening up avenues of credit to conduct and scale their business.

Maadhyam is powered by next-generation technologies like Artificial Intelligence and Machine Learning. As a SaaS offering, the cloud infrastructure supporting Maadhyam enables the platform to be device agnostic and omnipresent. The robust security protecting the Maadhyam platform infuses seamless trust between different entities and communities.

The foremost benefit of Maadhyam is that it will facilitate not only quick credit for the MSME but will also provide the MSME multiple lenders as the options, thereby enriching the entire ecosystem. With the help of Maadhyam, the lenders will receive the data through APIs while experiencing a reduction in cost of financing loans for MSMEs. Maadhyam will be focused on the unexplored parameters of financial lending in India and cater to Anchor and MSMEs making both parties’ lending experience resourceful, tech-oriented and cost-effective.

Mr. Rohit Arora, CEO & Co-Founder, Biz2Credit 

Commenting on the new product launch, Mr. Rohit Arora, CEO & Co-Founder, Biz2Credit and Biz2X said, “Last year, we have made an announcement to support “Aatmanirbhar“mission of government by investing in Made-in-India Fintech products. With the launch of Maadhyam, we are now one step closer to our mission.” He further added, “SME’s hold the potential to script the next wave of overall economic growth in India. With Maadhyam, we will power the India’s SMEs by assisting them with better and faster credit decisions. Thus, we are aiming to invest $25 million over the next 3 years to grow Maadhyam and make India the fintech capital of the world.”

Mr. Vineet Tyagi, Global CTO, Biz2X

Mr. Vineet Tyagi, Global CTO, Biz2X commented, "With the launch of Maadhyam, we are aiming to make India’s SME’s Aatmanirbhar by boosting the digital connect between Lenders and Aggregators. With Maadhyam the businesses would be able to get loans in almost real-time as Maadhyam will provide out-of-box AI-powered credit assessment to lenders for understanding these customers. We extend an open offer of collaboration to all Banks – NBFC’s as well Industry Aggregators & Fintech’s to integrate and partner with Maadhyam."

With Maadhyam, MSMEs can now easily overcome difficulties to achieve economies of scale and prosper to capture market opportunities that require large production facilities. Maadhyam smooth, swift and secure platform helps aggregators open competitive credit lines for any such small, medium and aspiring businesses.

Biz2Credit to Invest USD100 Million in India Over Next 5 Years

Biz2Credit, provider of an online marketplace for small business funding, eyeing expansion in India by making an investment of USD100 million over the next 5 years. The company has clocked a significant growth in business in India in the last few months with a lot of new client wins. Thus, seeing this potential of the Indian market, the firm is poised for even a greater leap and investing hugely in operations in India. The investment will be spent mainly in R&D, operations, and building the workforce. The company is bringing a lot of new employment opportunities for the young graduates in the country in both technical and service-based roles.

Biz2Credit was founded in 2007 and is backed by Nexus Venture Partners. Since its inception, Biz2Credit has become the leading online marketplace for small business funding, having arranged more than $8 billion in small business funding for thousands of companies throughout the U.S. Biz2Credit is expanding its industry-leading technology in custom digital platform solutions for leading banks and other financial institutions, investors and service providers in the U.S., India, Australia, and Canada.

Biz2Credit is the company behind Biz2X, a global SaaS platform that enables financial institutions to provide a customized online lending experience for their small and midsize business customers. The flagship Biz2X platform has been completely conceptualized, designed and developed in India and is the epitome of “Make in India” in the global market. Recently, the company has expanded its footprint in Singapore and Dubai and signed contracts with leading Banks in both countries.

Commenting on this big announcement, Mr. Rohit Arora, CEO & Co-Founder, Biz2Credit said,” We are delighted to see such massive growth in our business in India, this gives us the hope to further invest in Indian operations. Despite the uncertainties that two waves of the Coronavirus pandemic unleashed, we have clocked a massive growth in the revenue with 15-plus new client wins and eyeing a greater leap in the next 10-12 months. He further added, “I want to applaud the government’s initiatives for bringing ample of new opportunities for the Fintech sector which gives the sector a quantum leap. The fintech business model is now working with a remarkable and consistent framework that enables entrepreneurs, business owners, proprietors, and even banks and NBFCs to go through huge information and make better choices in their businesses.”

Adding to the announcement, Mr. Vineet Tyagi, Global CTO and Country Head, Biz2Credit India said, “The Indian market holds immense potential for Fintech companies like ours and it is extremely important for our next phase of growth. We at Biz2Credit support the government's mission of the Make in India program by making huge investments in Indian talent and portraying India as a hub of R&D on the global front.” He further added, “Our employees are our greatest asset, as we are looking for a multifold growth in the coming 10-12 months, we are aggressively hiring for both service-based and technical profiles to strengthen our white-labeled platform.

About Biz2Credit

Biz2Credit is a digital-first provider of small business funding. Biz2Credit leverages data, cash flow insights, and the latest technology to give business owners an automated small business funding platform. Since its inception, Biz2Credit has been the best place for small businesses to get funding online. With over 350 employees globally, our team – made up of top-notch engineers, marketers and data scientists – is building the next generation in business lending solutions.

OYO Announces Partnership With Biz2Credit to Provide Small Business Financing Options to Asset Partners

OYO, the world's third-largest and fastest-growing chain of hotels, homes and spaces*, has partnered with Biz2Credit, a leading online financing resource for small businesses, to provide working capital and commercial real estate loans to existing and potential hotel partners.

OYO, the world's third-largest and fastest-growing chain of hotels, homes and spaces*, has partnered with Biz2Credit, a leading online financing resource for small businesses, to provide working capital and commercial real estate loans to existing and potential hotel partners.

The partnership with Biz2Credit will start from the US market and will aid its efforts to provide hotel owners with fast financing efficiently for a wide range of purposes, including renovation, redesign, infrastructure upgrade and investment in technology for improved revenue management and operations.

“We are excited about partnering with Biz2Credit to support our asset partners across the United States, with their financing requirements,” said Abhinav Sinha, Chief Operating Officer and Operating Partner, OYO Hotels & Homes, USA. “Biz2Credit is one of the best known, longest established and most successful companies in the FinTech space. They are an important strategic partner for OYO as we pursue our expansion plans in the U.S. and elsewhere while staying true to our commitment to our real estate partners by putting skin in the game. We are certain that through this partnership, our asset partners will be able to benefit from OYO’s tech-enabled and data science-backed world-class expertise in interior design and renovations and revenue management.”

A pioneer in the FinTech industry, Biz2Credit uses the latest technology to connect small business owners with financing options based on each potential customer’s unique business profile. All transactions are conducted in a safe, efficient, and price-transparent environment that’s fully online.

“This will be a mutual referral agreement in which Biz2Credit will also refer its hotel clients to OYO for potentially opening new OYO properties,” said Rohit Arora, Biz2Credit’s CEO and one of the top experts in small business financing and FinTech. "We are proud to partner with a growing global hospitality company that has brought its successful business model to the real estate owners across many countries. Biz2Credit helps streamline the financing process and saves time, effort, and cost in order to get business owners the best financing options available today."

OYO, as the world’s third-largest hotel chain, is using technology, business expertise and talent to create beautifully designed, chic and comfortable living spaces. The company has attracted some of the world’s leading investors, including Airbnb, SoftBank Vision Fund, Greenoak Capital, Sequoia Capital, and Hero Enterprise.

When 19-year-old Ritesh Agarwal founded OYO, he couldn’t have imagined it would be the world’s fastest-growing hotel chain only six years later. That success in the U.S. and across the world led Agarwal to sign a $2 billion primary and secondary management investment round, allowing him to increase his stake in the business.

Opening its doors in 2013, OYO Hotels & Homes is the world’s third-largest and fastest-growing chain of hotels, homes, and spaces, by room count*. The portfolio combines fully operated real estate comprising of more than 23,000 hotels and 125,000 vacation homes.

Additionally, OYO along with Vacation Homes categories managed by the company under OYO Homes, Belvilla, Danland, Dancenter along with Germany-based Traum-Ferienwohnungen brands can be found in more than 800 cities in 80 countries, including the U.S., Europe, U.K., India, Malaysia, Middle East, Indonesia, Philippines, and Japan. For more information, log onto https://www.oyorooms.com.

Founded in 2007, Biz2Credit has arranged more than $2 billion in small business financing and has several times been named to Crain’s New York’s Fast 50 and was ranked among the top 200 fast-growing companies on Deloitte's 2018 Technology Fast 500.

Biz2Credit is expanding its industry-leading technology in custom digital platform solutions for leading banks and other financial institutions. Biz2Credit has operations in four large global markets: the United States, Canada, India, and Australia.

The platform is SOC 2 and ISO 27001 certified and runs on Amazon Web Services with 99.9% availability.

~Via Business Wire India

Online Lender Biz2Credit Raises $52 Mn in Series B Funding From WestBridge Capital

Biz2Credit Inc., the leading online lending platform that helps banks and other financial institutions manage small and medium enterprises (SMEs) lending processes and makes it easier and faster for SMEs to access working capital, announced that it has completed a Series B capital financing round of $52 million led by WestBridge Capital. This is the second round of equity financing for Biz2Credit; the company was initially funded by Nexus Venture Partners.

The funds will be deployed to drive further growth in Biz2Credit’s marketplace lending business and support the continued expansion of Biz2X, the company’s state-of-the-art digital lending platform, through SaaS partnerships with global financial institutions. With live deployments of the Biz2X Platform in four major markets worldwide, the funding will help accelerate the adoption of Biz2X globally.

Biz2X’s cutting-edge software enables banks and other financial institutions to streamline SME and commercial lending while providing state-of-the-art, end-to-end loan origination, servicing, monitoring and risk management, and data analytics tools.

“In a market filled with online lending solutions, Biz2X is a truly differentiated platform to automate banks’ business and commercial lending,” said Rohit Arora, CEO and Co-Founder of Biz2Credit. “The technology, coupled with Biz2Credit’s risk management and data analytics tools, and backed with performance data of over $2 billion of funding to date, gives banks an omni-channel experience to seamlessly scale up digital lending business across multiple markets.”

Sumir Chadha, Managing Director of WestBridge, added: “We are excited to partner with the impressive leadership team at Biz2Credit and to work with management to build upon the company’s track record of innovation. We have been highly impressed with the company’s success in partnering with many global financial institutions to power their digital lending. Biz2Credit is a great addition to our portfolio.”

“We are delighted to partner with WestBridge, as they have one of the strongest fintech portfolios we found among growth investors,” said Ramit Arora, President and Co-Founder of Biz2Credit. “Their investment will allow us to continue to hire the best people and maintain our position as the industry leader and innovator in online lending technology and operations.”
About Biz2Credit

Biz2Credit was founded in 2007 with one goal: make the business financing process work better for lenders and their customers. Biz2Credit’s mission is to provide small businesses with industry-leading lending solutions throughout their lifecycle in a flexible and transparent environment. The company offers the Biz2X Platform to banks and other financial institutions to allow them to better manage loan processes and related risks. For more information about Biz2Credit and Biz2X.