Group update

• Blue Earth Capital and Prosus Ventures join as lead investors; existing investors Lok Capital & UC Impower also participated in this round                     
• Company to utilise new funds to expand portfolio and extend network across more cities    

GrowXCD Finance (“GrowXCD” or “the Company”), a leading non-banking finance company headquartered in Chennai, announced the successful closure of an investment round of ~INR 200 Cr from Blue Earth Capital and Prosus Ventures, along with participation from existing investors Lok Capital and UC Impower through a primary capital infusion.

Founded in 2022 by Arjun Muralidharan, GrowXCD was established with a vision to enhance the economic growth of MSMEs and low-income households by providing them with access to capital. Operating more than 60      branches across Tamil Nadu, Karnataka, Andhra Pradesh, and Puducherry, GrowXCD caters to the financial needs of micro, small, and medium enterprises (MSMEs) in India by enabling institutional capital to seamlessly flow into retail assets secured by mortgages. Serving small business owners and formal or cash salaried employees, GrowXCD focuses on income generation, working capital, and business expansion needs, driving credit formalization in underserved segments. GrowXCD has established itself as a prominent player in the rapidly evolving MSME secured loan against property finance landscape, with a loan book exceeding INR 300 crore and industry-best asset quality, within 2.5 years of obtaining its NBFC license. The company is backed by prominent institutional investors, lenders, and a marquee board, ensuring strong governance and institutional trust.

Mr. Arjun Muralidharan, Founder, Managing Director and CEO, GrowXCD Finance, said in a statement, “We are delighted to welcome Blue Earth Capital and Prosus to our cap table—prominent global investors who share our long-term growth vision and commitment to serve the underserved MSMEs. We further extend our gratitude to our early backer Lok Capital, who has supported us since their initial investment in November 2023 and UC Impower, who continues to back our journey. This milestone marks a pivotal step as we expand our portfolio, deepen our presence in underserved southern markets, and bridge the credit gap in India’s MSME landscape, thereby empowering and uplifting livelihoods.”

Mr. Rohan Ghose, Director, Private Equity Partnerships at Blue Earth Capital, added: “GrowXCD’s mission to bridge the credit gap for underserved MSMEs in India aligns closely with our investment philosophy. By expanding access to capital, Arjun and his team are empowering entrepreneurs and households across southern India while scaling responsibly. This reflects Blue Earth Capital’s mission to back businesses like GrowXCD that aim to deliver both social and economic impact alongside solid financial performance. We are proud to support the company on its growth journey.”

Mr. Gaurav Kothari, Principal Investor, Prosus India, shared, “India’s MSMEs form the backbone of our economy yet remain significantly underserved on credit. With rapid digital adoption, greater formalization, and supportive government initiatives, we see a massive opportunity to build tech-led lending solutions for this segment. GrowXCD, with its secured LAP offering, robust technology platform, and experienced leadership team, is well positioned to bridge this credit gap while delivering meaningful impact for small businesses and strong financial performance.”    

Mr. Rajat Bansal, Managing Director, Lok Capital, said in a statement, “We are delighted to welcome Blue Earth Capital and Prosus to the cap table! We partnered with Arjun and Sathish on day zero, and it has been an exciting journey as they have brought GrowXCD to life. With a laser sharp focus on governance and tech-led innovation, and now the support of Blue Earth and Prosus, GrowXCD is poised to be the 2.0 of MSME finance.”

Ms. Mona Kachhwaha, Co-founder and Partner, UC Impower, said in a statement, “UC Impower's follow-on investment in GrowXCD reflects our conviction in the company, and we look forward to working with our new co-investors Blue Earth Capital and Prosus. GrowXCD’s mission to expand and deepen credit access to underserved MSMEs aligns perfectly with UC Impower’s, and with the exceptional execution capabilities of the team, ably led by Arjun and Sathish, we are excited to deepen our partnership with them as they build a business that delivers lasting social impact alongside sustainable growth.”
Unitus Capital acted as exclusive financial advisor to GrowXCD Finance Limited on this transaction.

About Blue Earth Capital
Blue Earth Capital is a global, independent, specialist impact investor, headquartered in Switzerland, with operations in New York, London, and Konstanz. Blue Earth Capital seeks to address the world’s most pressing social and environmental challenges by delivering measurable impact alongside aiming for attractive and market-rate financial returns. The company operates dedicated private equity, private credit, and fund solutions as well as separately managed accounts. Blue Earth Capital is owned by the Blue Earth Foundation, a Stiftung (charity/trust) registered in Switzerland that focuses on deep impact to support initiatives and business ventures to help deliver a more equitable and sustainable future. For more information, please visit www.blueearth.capital.

About Lok Capital
Lok Capital, founded in 2004, is a leading India-focused impact investment firm with a mission to drive inclusive growth and sustainable development. Investing from its fourth fund, Lok backs Series A–C, tech-enabled enterprises in financial inclusion, fintech, food & agri-tech, and climate & sustainability, often as the first PE-style growth investor. Beyond capital, the firm supports portfolio companies with fellowship programs and technical assistance, helping build commercially strong businesses that deliver measurable social and environmental impact. For more information, please visit website

About UC Impower
UC Impower, incubated by Unitus Capital, is an impact equity fund that invests in entrepreneurs building innovative companies in financial services and climate solutions. By focusing on Series A+ to B investments in these sectors, UC Impower provides capital at the critical early-growth stage, when companies with established business models and proven unit economics are on the cusp of scaling up. Within financial services, MSME lending is a focus area for the Fund. UC Impower invests in entrepreneurs building innovative companies that focus on accessibility, affordability, inclusivity, democracy of opportunity for underserved communities and environmental sustainability in India with a gender lens on all investments, while delivering a robust financial return to Investors.