Premji Invest, Norwest and Lok Capital Plan Up to ₹1,000 Crore Investment in Vegafin: Report

Three major investment firms—Azim Premji's Premji Invest, Norwest and Lok Capital—are planning an investment of up to ₹1,000 crore in Vegafin Capital, an AI-powered lending platform founded by former ICICI Bank executive Bijith Bhaskar. Vegafin has signed agreements to acquire a majority stake in Gurugram-based NBFC Bizloan, which manages over ₹235 crore in assets and operates across five states. The combined entity will use AI-driven underwriting, digital workflows and data-based credit assessments to improve lending decisions and reduce processing times for underserved micro, small and medium enterprises.

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