Amazon Inc-backed online lending fintech startup Capital Float has raised its first international debt investment of $7.2 Mn (INR 48 Cr) from the Netherlands-based Triodos Investment Management, taking total debt raise to $130 Mn (INR 840 Cr) so far.
The startup has previously raised debt investment from NBFCs in India, such as Kotak Mahindra Bank, Axis Bank, Reliance Capital and Northern Arc Capital (formerly IFMR Capital), etc. Capital Float has raised $107 Mn in equity funding since inception.
According to a media statement, the startup plans to utilise the funds for onward lending, with prime focus on expanding its MSME borrower segments, as it continues to add its existing assets under management (AUM) of approximately $4 Bn (Euro 3.3 Bn).
Commenting on the funding, Gaurav Hinduja and Sashank Rishyasringa, co-founders of fintech startup Capital Float said, “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.”
Notably, Triodos Investment Management (Triodos IM) has become the first international investment management company to invest in debt at Capital Float through its investment funds Triodos Fair Share Fund and Triodos Microfinance Fund.
A wholly-owned subsidiary of Triodos Bank, Triodos IM, intends to increase its strategic focus on SME lending in India through this collaboration.