ZipLoan’s $12.5 Million Round Funding


Khaitan & Co advised Ziploan in relation to issuance and transfer of shares

ZipLoan has raised Rs 90 crore ($12.5 million) in a Series B round led by venture capital and growth-equity investment firm SAIF Partners.

ZipLoan, operated by Delhi-based Blue Jay Finlease Ltd, said in a statement that existing investors Matrix Partners India, Waterbridge Ventures and Whiteboard Capital also took part in this funding round.

Launched in September 2015 by Puri and Shalabh Singhal, ZipLoan is a technology-enabled lending platform that provides loans to MSMEs. The startup offers loans of 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 operational in Delhi-NCR, Mumbai, Indore, Lucknow, Dehradun and Jaipur.

Khaitan & Co advised Ziploan with a team including Mayank Singh (Picture), Nidhi Killawala, Maitreye Parashar and Kairavi Shah.

Involved fees earner: Mayank Singh – Khaitan & Co.;

Law Firms: Khaitan & Co.;

Clients: ZipLoan;

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Author: Michael Patrini