Company Name : Loanzen
Funding Amount : Undisclosed
Investor(s) Tracxn Labs
Funding Round : Seed round
Loanzen has raised an undisclosed seed funding from Tracxn Labs and other Angels through TracxnSyndicate.
Loanzen helps businesses which are less than 3 years, or do not have collateral, meet short term cash-flow gaps by offering them short tenor (upto 120 days) loans.
Through Loanzen, businesses which have traditionally been out of scope for bank lending, are connected with lenders who lend to companies on the marketplace with the help of Loanzen’s credit scoring model.
Loanzen was founded in September 2015 and officially launched operations on 15th January 2015.
Madhu Sudhan, Co-Founder, Loanzen, said, “Currently many small businesses get turned down by banks but are in dire need of short term credit to fuel growth. Our mission to enable small, new age businesses to succeed and we see credit as a key element that today prevents them from reaching their goals. We are building the tech and data infrastructure that will be required for the larger lending ecosystem to be able to address this market.”