Clix Capital Bags INR 220 Cr To Expand Its MSME Lending Play

SUMMARY

The fresh funds gives Clix Capital a long runway towards its growth targets

The company plans to utilise these funds to strengthen its lending capabilities across the MSME, education, and healthcare equipment sectors

According to Rakesh Kaul, CEO of Clix Capital, this latest round of fundraising at an opportune time, given the government’s thrust on the MSME sector

Delhi NCR-based non banking financial company (NBFC) Clix Capital has raised INR 220 Cr in a fresh funding round led by existing investors Apollo Global Management and GE India’s former executives Pramod Bhasin and Anil Chawl.

The company seeks to use the fresh funds to strengthen its lending capabilities across MSME, education and healthcare equipment sectors, enhance its credit profile and significantly invest in new age AI & ML technologies.

“This infusion by shareholders further reinforces their confidence in the management team and the enormous potential of the strategic MSME lending model that Clix has built over the years,” the company said in a statement.

Founded in 2016 by Pramod Bhasin and Anil Chawla, Clix Capital offers business loans, loans against property, school financing, among others. For business financing, the NBFC offers SME/MSE loans, working capital loans, unsecured business loans, among others.

Earlier this year, Clix Capital secured a debt funding of $6 Mn from DCB bank. According to Rakesh Kaul, CEO of Clix Capital, this latest round of fundraising at an opportune time, given the government’s thrust on the MSME sector.

The Union Budget 2024-25 introduced a host of new measures aimed at bolstering the growth of MSMEs. The finance minister Nirmala Sitharaman announced a credit guarantee scheme for the MSME, which will help in facilitating term loans to MSMEs for the purchase of machinery and equipment without collateral or third-party guarantee.

The company claims its current AUM stands at over INR 6,000 Cr, with a GNPA of less than 2%, and has surpassed INR 26,000 Cr in total lifetime disbursements. With a workforce of more than 1,000 employees and a phygital presence, Clix Capital has expanded its operations to over 2,100 pin codes across India.

Clix Capital’s standalone revenue stood at INR 679 Cr in the financial year 2022-23 (FY23). Its revenue from operations stood at INR 637.5 Cr in FY22. The NBFC posted a profit of INR 24.4 Cr in FY23 as against a loss of INR 93.3 Cr in FY22.

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