Business briefs

**** Datacultr enables NBFCs to disburse loans worth Rs 500 cr in last 12 months *Datacultr, which provides risk management and debt collections platform to financial institutions, has helped NBFCs and telecom operators secure loans worth Rs 500 crore since April 2019.

Electric vehicle (EV) charging startup Charge+Zone on Wednesday said it has raised USD 3 million (Rs 22.4 crore) led by Venture Catalysts. The pre-series A funding round also saw participation from other lead investors like Mumbai Angels, Keiretsu Forum, and Ramakrishnan Family Office, a statement said.

Founded in 2018, Charge+Zone aims to expand the Indian electro-mobility market by enhancing the availability and accessibility of a network of charging points for electric vehicles (EVs). "At Charge+Zone, we have been passionately building technology and charging points for the EV ecosystem in India. With over 120 Fast DC charging points (CCS2/GBT) across seven cities in India, Charge+Zone caters to more than 500 EV vehicles on a daily basis," Charge+Zone founder and CEO Kartikey Hariyani said. **** CredAble disburses Rs 2,500 cr to MSMEs *CredAble, a supply chain financing focused fintech platform on Wednesday said it has disbursed Rs 2,500 crore to cash-starved micro, small and medium enterprises (MSMEs) across its various programs.

"The beneficiaries of this extensive outlay include thousands of vendors that face winding down of their operations in the absence of this working capital injection," a statement said. To maintain the cash-influx, CredAble sourced capital from its own NBFC as well as a network of financial partners. **** Datacultr enables NBFCs to disburse loans worth Rs 500 cr in last 12 months *Datacultr, which provides a risk management and debt collections platform to financial institutions, has helped NBFCs and telecom operators secure loans worth Rs 500 crore since April 2019. A major chunk of this loan amount has been disbursed to 'new-to-credit' and high-risk customers, a statement said. "The new-to-credit customer group has been ignored for a long time because of the high-risk profile of these borrowers. With our ML algorithms, we have been able to equip lending companies Banks, NBFCs, Telecom Operators, and MFIs to securely lend to this underserved segment," Neel Juriasingani, CEO and co-founder of Datacultr, said.