<article>Online lending platform <a href="https://www.dealstreetasia.com/?s=ZipLoan" target="_blank" rel="noopener">ZipLoan</a> has raised $12.5 million (Rs 90 crore) in a Series B round of funding led by venture capital and private equity firm <a href="https://www.dealstreetasia.com/?s=SAIF Partners" target="_blank" rel="noopener">SAIF Partners.</a></article>

Online lending platform <a href="https://www.dealstreetasia.com/?s=ZipLoan" target="_blank" rel="noopener">ZipLoan</a> has raised $12.5 million (Rs 90 crore) in a Series B round of funding led by venture capital and private equity firm <a href="https://www.dealstreetasia.com/?s=SAIF Partners" target="_blank" rel="noopener">SAIF Partners.</a>
Existing investors <a href="https://www.dealstreetasia.com/?s=Matrix Partners India" target="_blank" rel="noopener">Matrix Partners India</a>, <a href="https://www.dealstreetasia.com/?s=Waterbridge Ventures" target="_blank" rel="noopener">Waterbridge Ventures</a> and <a href="https://www.dealstreetasia.com/?s=Whiteboard Capital" target="_blank" rel="noopener">Whiteboard Capital </a>also participated in the funding round. ZipLoan has raised about $16.2 million in funding till date. It is looking at raising another Rs 250 crore in debt in the near future.
The funding proceeds will be used  to grow its business, expand offering in cities it is already present in like Delhi NCR, Mumbai, Indore, Lucknow, Dehradun and Jaipur, The Economic Times <a href="https://tech.economictimes.indiatimes.com/news/startups/ziploan-raises-rs-90-crore-led-by-saif-partners/68055309">reported</a>.
Founded in 2015 by Kshitij Puri and Shalabh Singhal, ZipLoan is an RBI registered non-banking financial company. It provides microloans to small and medium-sized enterprises ranging from Rs 1 lakh to Rs 5 lakh for a period of six to 24 months.
ZipLoan has co-lending and debt partnerships with banks and non-banking financial companies such as IDFC First Bank, IndusInd Bank, Northern Arc, MAS Finance and Caspian Finance. It is currently operational in Delhi-NCR, Mumbai, Indore, Lucknow, Dehradun and Jaipur.
In October 2017, ZipLoan had raised $3 million in a Series A funding round from Matrix Partners India. The round also saw the participation of WaterBridge Ventures, Whiteboard Capital, and former Capital18 MD, Sarbvir Singh. In June the same year, it had secured $650,000 in a pre-Series A funding led by WaterBridge Ventures.
The Indian fintech space has been abuzz with funding activity since past few months.
In September last year, digital lending platform Kissht announced raising $30 million in a Series C round led by Vertex Ventures SEA and India and and Sistema Asia Fund. In August, Lendingkart Finance, the SME lending platform of Lendingkart Technologies, raised about $44 million in non-convertible debentures from Aditya Birla Sun Life AMC along with another entity.
In July, OfBusiness, a technology-enabled SME financing platform, raised Rs 200 crore ($29 million) in a Series C financing round led by US private equity and venture capital firm Creation Investments and Falcon Edge.
In April, Sequoia-backed Capital Float raised a debt investment of Rs48 crore (around $7 million) from Triodos Investment Management. The same month, it raised $22 million in equity funding from Amazon Inc., taking the total equity funding to $107 million.
Also Read:
<a href="https://www.dealstreetasia.com/stories/kissht-vertex-sistema-asia-106572/">India: Lending platform Kissht raises $30m from Vertex Ventures, Sistema Asia fund</a>
<a href="https://www.dealstreetasia.com/stories/zestmoney-photographai-103886/">India: Lending startup ZestMoney buys PhotographAI to boost current technology</a>

Existing investors Matrix Partners India, Waterbridge Ventures and Whiteboard Capital also participated in the funding round.

SAIF Partners leads $12.5m Series B funding in India's ZipLoan

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SAIF Partners leads $12.5m Series B funding in India's ZipLoan

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