Mumbai, Mar 4 (KNN) Digital lending platform SMEcorner has raised USD 30 million (around Rs 210 crore) in a mixed round of equity and debt.

The funding round was led by Paragon Partners, which invested USD 10.5 million, and the balance came from existing investors including Quona Capital, Accion Venture Lab, Bharat Shah and few other high networth individuals, according to a company release.

The new funding round, which marked the closure of the Series B round, has come after a gap of 12 months.

Previously, it had raised Rs 90 crore in a mixed round of equity and debt led by Quona Capital in March 2019,

According to a release, the company said that it would deploy the new capital to reach over 20,000 new customers and is aiming to grow its loan book to Rs 1,500 crore by the end of this financial year.

"The additional capital will enable us to reach over 20,000 new customers and grow our distribution in the coming year," SMEcorner's founder and CEO, Samir Bhatia, said.

It has over 8,000 customers and has disbursed over Rs 550 crore since obtaining the licence. The company's current assets under management stand at Rs 400 crore.

---------------------

---------------------