GLAAS, an embedded credit infrastructure platform focused on MSMEs has raised $5 million from Devesh Sachdev who has been appointed as co-founder and managing director of the company.
He previously founded Fusion Finance Limited which had its IPO in 2022.
With the fresh capital and leadership expansion, GLAAS plans to strengthen the balance sheet of its in-house NBFC, Gromor Finance, expand its co-lending partnerships, and deepen its integration with digital platforms across sectors such as e-commerce, payments, and supply chain.
"MSME lending is at an inflection point. As businesses move online, credit will be delivered at the point of transaction, embedded within platforms and tailored to evolving working capital needs," said Sachdev. He added that GLAAS aims to build a comprehensive, asset-light credit infrastructure while scaling its lending book in partnership with ecosystem players.
GLAAS co-founder & MD Devesh Sachdev
A statement said the move underscores GLAAS' strategy to capitalise on the rapidly growing embedded credit market, as MSME lending increasingly shifts from traditional channels to platform-led distribution. Industry estimates suggest embedded credit could account for nearly 25% of MSME lending in India by 2030, driven by the digitisation of small businesses and the rise of digital ecosystems.
"We see GLAAS as the backbone for MSME credit in a platform-led world," said Shailesh Dixit, Co-founder of GLAAS. "With Devesh's experience in building and scaling lending businesses, we are well-positioned to accelerate growth and establish ourselves as a category-defining player."
Founded in 2021, GLAAS has disbursed over Rs 1,200 crore in loans to more than 12,000 small businesses. Its API-led infrastructure enables real-time underwriting, seamless disbursals, and automated repayments, embedding credit directly into digital commerce journeys and transforming access to working capital for MSMEs.