Premji Invest, Norwest and Lok Capital back Vegafin’s majority stake in Bizloan with up to ₹1,000 crore in commitment

Premji Invest, Norwest, and Lok Capital will invest up to ₹1,000 crore in Vegafin, an artificial intelligence (AI)-driven platform focused on micro, small, and medium enterprise (MSME) lending. The firm was founded and promoted by ICICI Bank veteran Bijith Bhaskar.

A portion of the funds has been used to acquire a majority stake in Bizloan, a Gurugram-based non-banking financial company (NBFC) specializing in secured MSME loans, according to a joint statement.