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Digital lender Capital Float has raised about ₹144 crore ($22 million) from Amazon. This is an extension of its $45-million Series C round that was led by Ribbit Capital, SAIF Partners, Sequoia India and Creation Investments. With this, the company has so far raised $110 million in equity from various investors. It has also raised $130 million in debt from leading banks and NBFCs.
Capital Float will use the fresh funds to invest in the areas of product innovation and in the credit assessment algorithm. The company recently two verticals – school and franchisee financing. The investment from Amazon will be used to increase the customer base. The company plans to add three lakh customers and originate over ₹5,000 crore in loan disbursals in FY2019.
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