Getty ImagesBANGALORE: Capital Float has raised Rs 50 crore in debt for a period of three years from Triodos Microfinance Fund and Triodos Fair Share Fund, financial inclusion funds managed by Triodos Investment Management (Triodos IM). Triodos IM is a wholly-owned subsidiary of Triodos Bank.
Since January 2021, Capital Float has raised over Rs 200 crores in debt. These funds are being strategically deployed towards scaling up growth in credit delivery, as the company has doubled its base over the last eight months to over 2 million customers. The company operates Buy Now Pay Later product, in partnership with online platforms and brands. It also offers a full suite of financial planning and management tools through its Walnut app, including small-ticket credit facilities for self-employed entrepreneurs and salaried professionals.
In a statement, Sashank Rishyasringa, co-founder and MD, Capital Float, said, “This agreement reflects the strength of our association and further enables us to unlock new opportunities in digital credit in India.”
"Over the last three years, we have enjoyed a fruitful association with Capital Float. The company has demonstrated resilience and progressive growth year on year," said Aditya Mohan, Senior Investment Manager, Triodos IM in a statement.
Capital Float is currently maintaining a credit origination run rate of over Rs 120 crores per month even through the 2nd wave of Covid, at collection efficiencies of around 95% and a NNPA of 1.56%. The company aims to cross 4 million credit customers by the end of this fiscal year, with a 2x increase in run rate disbursals.