Comments
Digital finance company Capital Float has raised $13 million (₹80 crore) in Series A funding from SAIF Partners and Sequoia Capital, with participation from existing investor Aspada.
The company will use the proceeds for its expansion plans and launch new loan products, the company said in a statement.
“SME lending presents a large and growing opportunity in India,” said Ravi Adusumalli, Managing Partner at SAIF Partners.
Capital Float provides working capital loans to underserved small business in India via a technology-led loan origination and credit underwriting platform.
SAIF Partners is a venture capital firm with over $4 billion under management, while Aspada is a venture capital firm backed by the Soros Economic Development Fund.
With this, the company has raised ₹100 crore this fiscal. Capital Float had earlier raised a $4-million seed round in 2014 from Aspada and SAIF. Till date, the Capital Float platform has delivered nearly ₹40 crore in loans to small and medium enterprises across 10 cities in India, it added.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.