New Delhi, Jan 4 (KNN) In a bid to inject more credit to the Micro, Small and Medium Enterprises (MSMEs) and vehicle purchasing firms, Jaipur based Ess Kay Fincorp Lid in a recent collaboration with Norwest Venture Partners, Baring Private Equity India and Evolvence India raised over Rs200 crore in equity investment.

Atul Arora, Chief financial officer at Ess Kay Fincorp in a press interview informed of the latest development.

Arora said that in the latest round of investments, US based Norwest is offering funds of over 108 crores and the other two firms including Baring and Evolvence are further adding investments, making the total figure stand at 200 crores.

At present, Ess Kay functions through a network of over 240 branches in six states across northern and western India.  The firm has a base of over 75,000 customers with a loan book valuing more than 1,100 crores.

With the fresh funds in place, Ess Kay aims to invest towards expanding its presence and reaching out to newer states and regions in the country. (KNN/ DA)