Non-banking financial company CredRight has raised  $10 million in its Series B funding round led by Norway's Abler Nordic. 

The investment also saw participation from existing investors Michael & Susan Dell Foundation and Unleash Capital.

The Hyderabad-based company plans to use the fresh capital to boost its loan portfolio, enhance technological infrastructure, and deepen market penetration across India's smaller cities from tier II through tier IV regions.

Established in 2016 by co-founders Neeraj Bansal and Vineet Jawa, CredRight specializes in providing digital financing solutions to small business operators. 

The company has 125 branch locations spanning four states to ensure direct access to its target market. The lending platform currently serves over 20,000 micro-enterprises, focusing primarily on small retailers and trading businesses that typically face challenges accessing traditional banking credit facilities.

Before this latest capital raise, CredRight had secured more than $13 million in total funding from investors including YourNest Venture Capital, 100Unicorns, and Accion Venture Lab.

Earlier this month, Gurugram-based lender Seeds Fincap raised Rs 50 crore in its pre-Series B funding round led by Z47.

In June, NBFC fintech Techfino raised Rs 65 crore in fresh funding from Stellaris Venture Partners and Saison Capital.

In May, Saarathi Finance, a newly licensed non-banking financial company (NBFC) focused on India’s micro, small and medium enterprises (MSMEs), secured Rs 475 crore in its first external funding round.