Get All Access for $5/mo

Leading the Fintech Revolution In 2019, Rohit Arora launched Biz2X, a platform to help banks run their lending operations at scale in the Indian market. A natural outgrowth of Biz2Credit, he noticed how banks and fintech players lending to MSMEs suffered from costly SME originations, leading to expensive and poorquality customer acquisition.

By Paromita Gupta

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

BIZ2CREDIT
Rohit Arora, CEO and Co-Founder at BIZ2CREDIT & BIZ2X

The fact that small and medium enterprises face a credit crunch to expand their business is no hidden fact. And this was precisely what Rohit Arora wanted to change, which he did with Biz2Credit in 2007.

"We identified five big touch points for SMEs businesses which are payments, payroll, filing taxes, marketing as well as needing capital to grow their businesses. Biz2Credit has built a state of art platform which connects all these touch points and gets access to data in a realtime fashion," shared the CEO and Co-Founder of Biz2Credit.

The financial service-providing platform believes funding options should be unique to one's business. With decision and funding duration being 24 hours and 72 hours, respectively, budding entrepreneurs can receive funding between $25,000 to $6 million. The company, backed by Nexus Venture Partners, has provided over $7 billion in funds to MSMEs across the US.

In 2019, Arora launched Biz2X, a platform to help banks run their lending operations at scale in the Indian market. A natural outgrowth of Biz2Credit, he noticed how banks and fintech players lending to MSMEs suffered from costly SME originations, leading to expensive and poorquality customer acquisition.

Such players had no real-time connection with borrowers to understand their real issues and have data insights. Some of the banks associated with the platform are Citibank, ICICI Bank, HSBC, and Standard Chartered, and it's also providing its facilities to banks and financial institutions across the world. It is now expanding big time in the GCC region.

FACTSHEET:

Amount of funding received- Around $500 million between equity and debt

Year of inception- 2007

Number of employees- 650

No. of app downloads- 2 million plus

Paromita Gupta

Entrepreneur Staff

Features Writer with Entrepreneur India

Covering news and trends in AI and Metaverse segments. An avid book reader running her personal blog on the side. You may reach me at paromita@entrepreneurindia.com. 
News and Trends

"45% of All Ongoing Hydropower Projects in India are Ours": Patel Engineering

Patel Engineering reported a turnover of INR 4,400 crore in the last fiscal year, with a projected 10 per cent growth for the current year.

Side Hustle

'Hustling Every Day': These Friends Started a Side Hustle With $2,500 Each — It 'Snowballed' to Over $500,000 and Became a Multimillion-Dollar Brand

Paris Emily Nicholson and Saskia Teje Jenkins had a 2020 brainstorm session that led to a lucrative business.

News and Trends

Broadcom Stock Soars on AI Growth Outlook

Broadcom's next-generation AI chips, built with advanced 3-nanometer technology, are set to debut in the spring

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

News and Trends

IIT Kanpur Launches Hackathon to Empower Startups in Cybersecurity

Startups will pitch their solutions to a panel of industry experts, with selected teams gaining access to incubation support at IIT Kanpur to help bring their ideas to market