StopDown
VC
Funding · 22 October 2026Vegafin Capital₹1,000 CrAI MSME lending

Premji family office leads ₹1,000 crore Vegafin round

By ·

WhatsAppXLinkedIn
FundingFinancial Services
  • Vegafin Capital is a business lending startup building an AI-based platform to assess credit risk of micro, small and medium enterprises
  • A family office of Azim Premji led the ₹1,000 crore investment, with Norwest and Lok Capital also taking part in the round
  • The deal includes buying Gurugram fintech Bizloan, which has over 35 branches and a loan book of about $25 million

What happened

  • Vegafin raised ₹1,000 crore, about $106 million.
  • Premji Invest led, with Norwest and Lok Capital.
  • The round includes buying Bizloan.

Why it matters

  • It will use data from many sources for faster credit risk checks on small businesses.
  • Backers see growing interest in homegrown AI ventures.

The business

  • Vegafin lends to MSMEs.
  • It builds an AI lending platform.
  • Bizloan adds 35 branches.

The founders

BB

Bijith Bhaskar

Founder
  • Former partner at Premji Invest
  • Over two decades at ICICI Bank in retail and digital banking

Who put in money

In numbers

$25 millionBizloan loan book

Read it as a card in the app

Terms in this story

  • Startup: A startup is a young company built to find a new way of doing something and to grow fast, usually by serving many customers at low extra cost. India's government also has a narrower legal definition that decides who gets scheme benefits.
  • Family office: A family office is a private company that manages the wealth of one wealthy family, or a few families together. In startups, family offices invest directly in companies and also back venture funds as limited partners.
  • Fintech business model: Fintech startups make money in a handful of ways: charging a fee on each payment, earning interest on loans, taking a commission for selling financial products, or selling software to banks and businesses. Most successful companies combine two or three of these.

All startup news on 22 October 2026 →

Is this Vegafin Capital? Get your “Featured on StopDown” badge →