Sequoia Refuels Finova Capital with $6 Mn Investment
Finova Capital Pvt. Ltd, a non-banking financial company based in Jaipur has obtained a $6 million (Rs 6.5 crore) investment by existing investor Sequoia Capital.
“They have scaled fast while maintaining high portfolio quality and delivered profits. This has encouraged Sequoia to double down on its investment in Finova and support its next leg of growth,” stated GV Ravi Shankar, Managing Director, Sequoia India Capital Advisors.
Finova Capital already obtained a prior investment in a Series A round from Sequoia Capital in September 2017. The amount of the investment was however unrevealed.
Mohit Sahney, CEO of Finova Capital explained that the company is trying to invest in technology and expansion, hence the funds will be use for this purpose and to increase their operations.
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