Finova Capital Seeks To Raise INR 800 Cr In A Mix Of Primary & Secondary Deal

Finova Capital Seeks To Raise INR 800 Cr In A Mix Of Primary & Secondary Deal

SUMMARY

The round will be led by new investors Avataar Venture Partners, Madison India Capital and Belgium investment fund Sofina

Founded in 2015, Finova Capital is a non-banking financial company that offers MSME business loans and home loans, with a focus in semi urban and rural areas

In FY24, the fintech startup posted a consolidated profit after tax (PAT) of INR 151.5 Cr and an operating revenue of INR 529.3 Cr

Jaipur-based fintech startup Finova Capital is reportedly in advanced stages of discussion to raise INR 800 Cr (around $95.3 Mn) from new and existing investors in a mix of primary capital infusion and secondary share sale.

The round will be led by new investors Avataar Venture Partners, Madison India Capital and Belgium investment fund Sofina, with participation from existing investors, Moneycontrol reported, citing sources.

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