Chennai-headquartered startup lender GrowXCD Finance has raised ₹200 crore in its latest equity round, led by Blue Earth Capital with a ₹105 crore infusion, followed by Prosus Ventures contributing ₹70 crore.
This marks the company’s second equity fundraise in 2025. Earlier in January, GrowXCD secured ₹50 crore from Lok Capital and UC Impower. Lok Capital, an early backer since November 2023, added another ₹21 crore in this round, taking its cumulative investment to ₹93 crore, cementing its position as the largest shareholder. UC Impower chipped in with ₹4 crore.
Founder Arjun Muralidharan said the fresh capital will enable the company to expand its branch network, enhance its lending portfolio, and strengthen its technology infrastructure, with the funding expected to support operations for the next 12–18 months.
Launched in 2022, GrowXCD focuses on providing credit to micro, small, and marginal enterprises (MSMEs) as well as salaried employees in tier-II and tier-III towns across South India. The lender currently operates 67 branches across Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, and Puducherry.
With this funding, GrowXCD is targeting an AUM of ₹500 crore by March 2026, up from the current ₹300 crore. Over the longer term, it plans to open 40–50 new branches by March 2027 and expand into Madhya Pradesh, Maharashtra, and Uttar Pradesh.
By: Arushi Agarwal
