Microlending Startup SMECorner Raises $12.7 Mn In Debt, Equity

Mumbai-based online lending startup SMECorner has raised INR 90 Cr ($12.7 Mn) in a fresh funding round of debt and equity, led by  Quona Capital. Of this, a tranche of INR 35 Cr ($4.9 Mn) equity capital was contributed by Accion Frontier Inclusion Fund managed by Quona Capital,

The balance equity was infused by the existing investors including Accion Venture Lab. In addition, it has also raised debt from leading financial institutions.

SMECorner was founded in 2014 by Samir Bhatia. The startup offers quick access to business loans to micro, small and medium enterprises (MSME). It is aimed at addressing the SME lending gap in the country by using a proprietary online platform that combines machine learning, data science and artificial intelligence in a safe environment.

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