MSME Focused NBFC Clix Capital Raises Rs 220 Crore, Eyes Expansion

ENA MSME 2024-08-02 14:19:36 New Delhi, Aug 2 (KNN) Clix Capital, a non-banking financial company (NBFC) focused on micro, small, and medium enterprises (MSMEs), has successfully raised Rs 220 crore in a recent funding round. The capital injection was led by existing investors Apollo Global Management, along with Pramod Bhasin and Anil Chawla. The company plans to utilise the fresh funds to enhance its lending capabilities in the MSME, education, and healthcare equipment sectors. Additionally, Clix Capital aims to improve its credit profile and invest in artificial intelligence and machine learning technologies. With this latest round of funding, Clix Capital anticipates expanding its assets under management (AUM) beyond Rs 10,000 crore within the next 18-24 months, up from its current AUM of over Rs 6,000 crore. Rakesh Kaul, CEO, Clix Capital, stated that the fundraise aligns with the government's focus on the MSME sector and its vision for a developed India. The company reports having supported thousands of MSMEs and achieved a strong AUM compound annual growth rate (CAGR) of more than 30 per cent over recent years. Financial indicators for Clix Capital show promising results. The company's gross non-performing assets (NPA) remain below 2 per cent, while total disbursements have exceeded Rs 26,000 crore. Clix Capital has reported a net profit growth of 125 per cent to Rs 63 crore for FY24 compared to FY23. Loan disbursements have also increased, reaching more than Rs 4,475 crore in FY24, a 21 per cent increase from the previous financial year. Utsav Baijal, Partner and Head of India Private Equity, Apollo Global Management, expressed optimism about Clix Capital's growth potential in India's expanding MSME sector. In a separate development, Clix Capital has also secured a USD 20 million loan from the Global Climate Partnership Fund (GCPF), a Luxembourg-based impact investor supporting sustainable projects aimed at mitigating climate change. This funding round and the company's recent performance underscore the growing interest in financial institutions catering to India's MSME sector and the increasing focus on sustainable finance in the country. As Clix Capital continues to expand its operations and improve its technological capabilities, it is well-positioned to play a significant role in supporting the growth of small and medium-sized businesses across India. (KNN Bureau) 38836 https://knnindia.co.in/news/newsdetails/msme/msme-focused-nbfc-clix-capital-raises-rs-220-crore-eyes-expansion 2024-08-02 14:19:36 knnindia.co.in MSME Focused NBFC Clix Capital Raises Rs 220 Crore, Eyes Expansion