US credit finance company Biz2Credit plans to invest $ 100 million in India to expand Biz

Fintech company Biz2Credit plans to invest $ 100 million in India over the next 5 years in research and development as well as expansion of operations.

The company also plans to strengthen its technology team by adding more than 150 new employees in 2021 in various roles, including entry-level, mid-level and senior positions.

Rohit Arora, CEO and co-founder of Biz2Credit, said in a statement that the company is delighted to see such massive growth in its business in India. “Despite the uncertainties that two waves of the coronavirus pandemic have triggered, we have seen massive revenue growth with more than 15 new customers and expect a bigger jump over the next 10 to 12 months,” he said. declared.

“The investment will mainly be devoted to R&D, operations and workforce training. The company offers many new employment opportunities for young graduates across the country in technical and service roles, ”said Arora.

Founded in 2007, Biz2Credit is backed by Nexus Venture Partners. In 2019, the online lending platform completed a $ 52 million Series B capital funding round led by WestBridge Capital.

Biz2Credit extends its cutting edge technology into customized digital platform solutions for leading banks and other financial institutions, investors and service providers in the United States, India, Australia and Canada.

Commenting on the plans, Vineet Arora, Global CTO and Country Head at Biz2Credit India, said the Indian market holds immense potential for fintech companies like Biz2Credit and is extremely important for the next phase of business growth. ‘business.

“At Biz2Credit, we support the government mission of the Make in India program by making huge investments in Indian talent and showcasing India as an R&D hub on the global front,” he said.

Last month, the company announced bonuses including BMW bikes, cash rewards and other benefits for their employees for the 2021-22 assessment year amid the Covid-19 pandemic.

(With PTI entries)

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