[Funding alert] Digital lending startup Happy raises $20M, plans to reach up to 1M new borrowers

[Funding alert] Digital lending startup Happy raises $20M, plans to reach up to 1M new borrowers

  • Mumbai-based digital lending startup Happy has raised $20 million in fresh capital to grow its artificial intelligence (AI) powered lend-tech model to provide flexible digital loans to micro and small business in over 500 locations across India.
  • Manish Khera, Founder of Happy LoansSpeaking on the announcement, Happy's Co-founder & MD Manish Khera, said,"What inspires me is that there are millions of people who need financial assistance for basic economic mobility and growth.
  • Micro-enterprises contribute 37.5 percent to India's economy and employ 20 percent of India's workforce; over 100 million people.
  • Making one million small loans means building a loan portfolio of over $500 million and catalysing economic wealth of $10 billion for micro- and small enterprises in a single year."Founded in 2016 by Manish Khera, Gautam Ivatury, and Shweta Aprameya, Happy has disbursed over $20 million (Rs 140 crore) through over 32,000 loans to more than 80 different kinds of businesses in its first two years of operations.


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