Getty ImagesBENGALURU: Capital Float has raised $15 million (Rs 110 crore) in fresh funding from existing investors Ribbit Capital, SAIF Partners, Sequoia Capital India and online retailer Amazon.
The Bengaluru-headquartered NBFC, founded in 2013 by Stanford University’s Graduate School of Business alums Sashank Rishyasringa and Gaurav Hinduja, will utilise the proceeds from the latest round to bolster its capital base and expand lending to small and medium enterprises and consumers, it said in a statement.
“The latest funding round with the help of the existing partners has signalled strong support and trust in Capital Float’s vision of scaling up digital financial inclusion in India… We’re eager to significantly increase our lending capacity once the lockdown is lifted to enable SME growth and consumer spending at scale,” Rishyasringa and Hinduja said in the joint statement.
Capital Float claims its customer base is spread across 300 cities in the country.
The Bengaluru-headquartered NBFC, founded in 2013 by Stanford University’s Graduate School of Business alums Sashank Rishyasringa and Gaurav Hinduja, will utilise the proceeds from the latest round to bolster its capital base and expand lending to small and medium enterprises and consumers, it said in a statement.
“The latest funding round with the help of the existing partners has signalled strong support and trust in Capital Float’s vision of scaling up digital financial inclusion in India… We’re eager to significantly increase our lending capacity once the lockdown is lifted to enable SME growth and consumer spending at scale,” Rishyasringa and Hinduja said in the joint statement.
Capital Float claims its customer base is spread across 300 cities in the country.
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