Capital Float has raised $15 million in funding from its existing investors Amazon, Ribbit Capital, SAIF Partners, and Sequoia Capital India.
Talking about this latest funding round, the founders in a joint statement said,
“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.”
The founders also addressed the present lockdown situation and said, ” At a time when the industry is faced with multiple challenges, we are grateful for this reinforcement and want to continue making lending effortless for SMEs and consumers across the nation. We’re eager to significantly increase our lending capacity once the lockdown is lifted to enable SME growth and consumer spending at scale.“
With a lifetime loan disbursal of INR 8500+ crores, Capital Float has its presence across 314 Indian cities,
As per Capital Float, the funding will be used to strengthen its capital base and expand its lending operations to retail consumers and SMEs.