Prayaan Capital secures 110 crore Series A funding from Peak XV Partners to expand MSME lending across India. The Chennai-based platform targets the massive credit gap in India's micro and small enterprise segment, which faces an estimated 300 billion dollar shortfall. With 70 million MSMEs employing nearly 300 million people, the company aims to leverage technology and customer understanding to improve credit access. Rangarajan Krishnan, who recently acquired controlling stake and previously led Five-Star Business Finance, will spearhead growth initiatives. Peak XV Partners, managing over 10 billion dollars across multiple funds, brings substantial backing to this critical market opportunity.
