GrowXCD Finance Raises INR 200 Cr from Blue Earth Capital and Prosus Ventures The fresh funds will be used to expand GrowXCD's branch network, strengthen technology, and grow its lending portfolio across regions.
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Chennai-based non-banking finance company (NBFC) GrowXCD Finance has raised INR 200 crore in fresh funding from Blue Earth Capital and Prosus Ventures. Blue Earth Capital led the round with INR 105 crore, while Prosus invested INR 70 crore.
This is the company's second equity raise in 2025. Earlier in January, GrowXCD secured INR 50 crore from Lok Capital and UC Impower. Lok Capital, which first backed the lender in November 2023, increased its stake with an additional INR 21 crore this year. With a cumulative investment of about INR 93 crore, Lok Capital remains the largest shareholder in the company.
"The capital infusion will help us expand our portfolio and branches, besides strengthening our technology backbone. This funding will support the next 12–18 months of business," said Arjun Muralidharan, founder of GrowXCD Finance.
Founded in 2022 by Muralidharan and Sathish Kumar Vijayan, the NBFC provides credit to micro, small, and medium enterprises as well as low-income households. It operates 67 branches across Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, and Puducherry.
The company plans to expand its assets under management to INR 500 crore by March 2026, up from the current INR 300 crore. It is targeting 40 to 50 new branches by March 2027 and is exploring entry into states such as Madhya Pradesh, Maharashtra, and Uttar Pradesh.
GrowXCD competes with players such as Ugro Capital, Northern Arc Capital, Vistaar Finance, and Aye Finance in the MSME lending segment.
