Online Lending Platform Capital Float Raised USD 25 million (Rs 170 crore) Funding
Online lending platform Capital Float has raised USD 25 million (Rs 170 crore), led by Creation Investments Capital Management.
The Series B financing also saw "significant participation" from existing investors like SAIF Partners, Sequoia India and Aspada, Capital Float said in a statement.
This is the third round of funding, bringing the total equity capital raised by the company to USD 42 million.
This round of growth capital will help Capital Float expand its lending footprint to over 20,000 small and medium enterprises in over 100 cities, and introduce new financial products online, it said.
Founded in 2013, Capital Float has created a proprietary technology platform to evaluate the financial health of SMEs and efficiently deliver working capital to a segment that is under...