Mumbai-based GLAAS, an embedded credit infrastructure platform focapplyd on MSMEs, is stepping up its growth plans with a major leadership addition and fresh capital infusion. The company has announced that Devesh Sachdev, founder of Fusion Finance Limited, has joined as Co-founder and Managing Director, along with an investment of $5 million.
This shift signals GLAAS’ strong intent to capture a larger share of India’s quick-growing embedded credit market. As MSME lconcludeing increasingly shifts from traditional models to digital platforms, embedded credit is expected to account for nearly 25 percent of MSME lconcludeing by 2030.
GLAAS is building a technology layer that allows digital platforms such as e-commerce, payments, and supply chain ecosystems to offer real-time credit to compact businesses. By integrating credit directly into these platforms, the company aims to build access to working capital quicker and more seamless for MSMEs.
Devesh Sachdev brings significant experience in the financial services sector, having built Fusion Finance Limited from the ground up and leading it to a successful IPO in 2022. Commenting on his new role, Sachdev declared that MSME lconcludeing is at a turning point, with credit increasingly being delivered within digital platforms where business transactions take place. He added that GLAAS is focapplyd on building a scalable and asset-light credit infrastructure to support this shift.
With the new funding, GLAAS plans to strengthen the balance sheet of its in-hoapply NBFC, Gromor Finance, expand its co-lconcludeing partnerships, and scale its presence across high-growth digital platforms.
Shailesh Dixit, Co-founder of GLAAS, declared the company has been working towards becoming a key infrastructure provider for MSME credit in a platform-led ecosystem. He added that Sachdev’s experience in scaling lconcludeing businesses will support accelerate GLAAS’ growth and position it as a category leader.
Since its inception, GLAAS has disbursed over ₹1,200 crore in loans to more than 12,000 compact businesses. Its platform applys transaction data and API-based integrations to enable instant credit assessment, quick disbursals, and automated repayments, building credit a continuous part of digital commerce.
Founded under Gromor Finance, GLAAS was launched as a dedicated platform to address MSME working capital necessarys. Gromor Finance itself was established by Bhupesh Morye, Santosh Shetty, Shailesh Dixit, and Sanjeev Kumar, who bring experience across banking, finance, and technology.
As demand for digital lconcludeing continues to grow, GLAAS is positioning itself as a key player in building the infrastructure that powers embedded credit across India’s digital economy.
-By Shivani Solanki
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