Capital Float, a leading digital lender platform announced that it raised a debt-funding round of Rs 48 crores from Triodos Investment Management (Triodos IM), an asset management company based in Netherlands and owned by Triodos Bank, a global leader in sustainable banking.
Capital Float raised over $107 million as equity funding since inception and raised debt funding rounds worth $130 million.
With this round of funding, Triodos IM became the first international investment management company to pour capital in Capital Float as debt financing through its investment funds Triodos Fair Share Fund and Triodos Microfinance Fund and through it expects to cement its operations as a lending company to SMEs in India.
The funds raised will be used by Capital Float to provide loans to its clients as the company aims adding capital to its existing Asset Under Management (AUM) of over 1200 crores.
Capital Float is an online platform that provides loans and capital finance to Indian SMEs. It aims at offering its clients with flexible, short-term loans, which will facilitate startups in meeting their demands in inventory and supply capital needed for cash inflow. Applicants can fill an online form ‘anywhere, anytime’ that the company claims to take only 10 minutes to fill and receive the funds needed upon approval within a week.
Capital Float is a daughter company of NBFC registered with the RBI, Zen Lefin Pvt. Ltd and is headquartered in Bangalore. The digital lending platform aims at creating an ecosystem which will provide SMEs with simple access to credit, collateral-free terms and a trustworthy partner while bridging the gap between the market requirements and innovative startups.
This collaboration with Triodos IM indicates Capital Float’s ever-growing reputation in the international financial circles. Investments like these will help put digital lending in India in the international spotlight. With this fresh injection of funds, we will strengthen our focus on expanding our MSME borrower segments,” said Gaurav Hinduja and Sashank Rishyasringa, co-founders of Capital Float, in a joint statement.
Northern Arc Capital is credited for its role in facilitating communications for the debt financing between Capital Float and Tirodos IM.
“We are excited to have played a critical role in an important transaction. The investment by Triodos IM in Capital Float is a great demonstration of our commitment to back clients in every way possible along their growth path,” said Dr. Kshama Fernandes – MD and CEO Northern Arc Capital.