GrowXCD Finance, a Chennai-based fintech startup, has secured 50 crore rupees (approximately $6 million) in its Series A funding round. The round was led by Lok Capital, a prominent investment firm known for its diverse portfolio in financial services and healthcare sectors.
The company was founded in 2022 by Arjun Muralidharan and Sathishkumar Vijayan and aims to provide affordable and accessible financial services to underserved segments. GrowXCD utilizes technology to assess creditworthiness and offer tailored financial solutions, it has experienced rapid growth since its inception.
Funding will be used to: Strengthen GrowXCD's position in the Indian fintech market, Enable the company to reach a wider audience, Drive innovation and development of new financial products & Contribute to financial inclusion in India.
