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SAIF Partners Invests $1 Mn In Digital Finance Startup Capital Float

SAIF Partners Invests $1 Mn In Digital Finance Startup Capital Float

Venture Capital and private equity firm SAIF Partners has invested $ 1 Mn in a Bangalore based digital finance startup Capital Float. Capital Float provides working capital loans to under-served small businesses in India via a technology-led loan origination and credit underwriting platform.

capitalfloat-inc42Launched back in 2013 by Gaurav Hinduja and Sashank Rishyasringa, Capital Float works with SMEs across Bangalore, Mumbai, Delhi, and select other cities in India, with a focus on ecommerce merchants, small manufacturers, and early-stage B2B service providers.

Sashank Rishyasringa explains

By taking a technology-driven approach, we are able to offer such businesses a unique set of cash-flow based lending products in a timely and efficient manner… Even today, many entrepreneurs prefer to borrow from informal sources for their convenience and speed. Our goal – simply put – is to make the process of getting a business loan as simple as shopping online. We are excited to partner with SAIF, and believe that their experience building world-class digital businesses in India will be invaluable in this journey.

Earlier this year, it had raised an initial round of angel funding and in June 2014 it announced a seed investment of US $ 2 Mn from the Aspada Investment Company.

Ravi Adusumalli, Managing Partner, SAIF Partners, said,

We really like the team at Capital Float and their approach to the business. We look forward to a mutually-fulfilling partnership with Capital Float, as they accelerate their journey to be a leading firm in this segment.

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