FinTech Lender Capital Float Raises $15 Million From Amazon, SAIF Partners

Capital Float has raised $15 million in funding from its existing investors Amazon, Ribbit Capital, SAIF Partners, and Sequoia Capital India.

Founded by Gaurav Hinduja and Sashank Rishyasringa in 2013, Capital Float is a Bengaluru-based leading Fintech lender that provides working capital finance to SMEs in 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.

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