MSME lender Capital Float raises Rs 48 crore from Triodos Investment Mangement

New Delhi, Apr 28 (KNN) Post raising $22 million investment from Amazon, Capital Float has recently announced a debt investment of Rs 48 crore from Triodos Investment Management.

Asset management firm Triodos Investment is a wholly-owned subsidiary of Netherlands-based Triodos Bank NV.

Partnering with Capital Float, Tridos joins a roster of lenders to Capital Float that includes Kotak Mahindra Bank, IDFC Bank, HDFC Bank and many Non-Banking financial services companies.

Capital Float co-founders Gaurav Hinduja and Sashank Rishyasringa said in a joint statement that this collaboration with Tridos IM indicates Capital Float’s ever-growing reputation in the international financial circles.

He said “with this fresh injection of funds, we will strengthen our focus on expanding our MSME borrower segments.”

With this new flow of investment, the Capital Float will increase its reach and focus on SME (small and medium enterprises) lending in India.

Further, the lending firm will leverage the funds for forward lending to reach the target customers.

Started in 2013, Capital Float is operated by Zen Lefin Pvt Ltd, an NBFC. It aimed at extending collateral-free loans to small and medium-size businesses, besides merchants and individual entrepreneurs.

Till date, the Capital Float has raised credit equivalent to Rs840 crore ($130 million), and equity investment of Rs695 crore ($107 million), according to figures shared by the company.

SAIF Partners, Sequoia India, Aspada Investments, Creation Investments Capital Management and Ribbit Capital are institutional investors in the company.