Has Naspers Pulled Out Of Its Investment Deal With Capital Float?

Has Naspers Pulled Out Of What Could Have Been Its Largest Deal In India?

SUMMARY

Naspers was earlier reported to be investing $200 Mn in the Indian company

Capital Float is a digital lending company focused on SMEs

Naspers Indian portfolio include Swiggy, BJYU’S, and Flipkart

South African multinational Naspers has pulled out of the investment talks with the Indian fintech startup Capital Float. It was earlier reported to be investing $200 Mn in the digital lending startup, which would have been its largest investment in an Indian company so far. Flipkart

According to a LiveMint report, cofounder of Capital Float, Sashank Rishyasringa has confirmed the development and said, “Naspers/PayU and Capital Float were involved in such a discussion for a period of time. However, the parties have mutually decided that the best route to collaborate would be through business initiatives in the future rather than via a strategic investment.”Ecommerce2007BengaluruBinny Bansal +1$15.0 BnEcommerce2007BengaluruBinny Bansal +1$15.0 Bn