Capital Float gets debt investment of Rs48 crore from Triodos
Capital Float says Triodos Investment intends to increase its strategic focus on SME lending in India
New Delhi: Online lending firm Capital Float, which recently raised $22 million from Amazon Inc., on Friday announced a debt investment of Rs48 crore (around $7 million) from Triodos Investment Management.
Asset management firm Triodos Investment is a wholly-owned subsidiary of Netherlands-based Triodos Bank NV.
The firm joins a roster of lenders to Capital Float that includes Kotak Mahindra Bank, IDFC Bank, HDFC Bank and several non-banking financial services companies.
“This collaboration with Triodos IM indicates Capital Float’s ever-growing reputation in the international financial circles… With this fresh injection of funds, we will strengthen our focus on expanding our MSME borrower segments,” Capital Float co-founders Gaurav Hinduja and Sashank Rishyasringa said in a joint statement.
According to Capital Float, Triodos Investment intends to increase its strategic focus on SME (small and medium enterprises) lending in India. The digital lender will leverage the funds for onward lending to its target segment.
Started in 2013, Capital Float is operated by Zen Lefin Pvt Ltd, an NBFC. Its stated focus is extending collateral-free loans to small and medium-size businesses, besides merchants and individual entrepreneurs.
To date, Capital Float has raised credit equivalent to Rs840 crore ($130 million), and equity investment of Rs695 crore ($107 million), according to figures shared by the company. SAIF Partners, Sequoia India, Aspada Investments, Creation Investments Capital Management and Ribbit Capital are institutional investors in the company.
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First Published:27 Apr 2018, 08:54 PM IST
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