Mumbai-based GLAAS, an embedded credit infrastructure platform focused on MSMEs, is stepping up its growth plans with a major leadership addition and fresh capital infusion. The company has announced that Devesh Sachdev, founder of Fusion Finance Limited, has joined as Co-founder and Managing Director, along with an investment of $5 million.
This move signals GLAAS’ strong intent to capture a larger share of India’s fast-growing embedded credit market. As MSME lending increasingly shifts from traditional models to digital platforms, embedded credit is expected to account for nearly 25 percent of MSME lending by 2030.
GLAAS is building a technology layer that allows digital platforms such as e-commerce, payments, and supply chain ecosystems to offer real-time credit to small businesses. By integrating credit directly into these platforms, the company aims to make access to working capital faster and more seamless for MSMEs.
Devesh Sachdev brings significant experience in the financial services sector, having built Fusion Finance Limited from the ground up and leading it to a successful IPO in 2022. Commenting on his new role, Sachdev said that MSME lending is at a turning point, with credit increasingly being delivered within digital platforms where business transactions take place. He added that GLAAS is focused on building a scalable and asset-light credit infrastructure to support this shift.
With the new funding, GLAAS plans to strengthen the balance sheet of its in-house NBFC, Gromor Finance, expand its co-lending partnerships, and scale its presence across high-growth digital platforms.
Shailesh Dixit, Co-founder of GLAAS, said the company has been working towards becoming a key infrastructure provider for MSME credit in a platform-led ecosystem. He added that Sachdev’s experience in scaling lending businesses will help accelerate GLAAS’ growth and position it as a category leader.
Since its inception, GLAAS has disbursed over ₹1,200 crore in loans to more than 12,000 small businesses. Its platform uses transaction data and API-based integrations to enable instant credit assessment, quick disbursals, and automated repayments, making credit a continuous part of digital commerce.
Founded under Gromor Finance, GLAAS was launched as a dedicated platform to address MSME working capital needs. Gromor Finance itself was established by Bhupesh Morye, Santosh Shetty, Shailesh Dixit, and Sanjeev Kumar, who bring experience across banking, finance, and technology.
As demand for digital lending continues to grow, GLAAS is positioning itself as a key player in building the infrastructure that powers embedded credit across India’s digital economy.
-By Shivani Solanki
