MUMBAI: Fintech lender Capital Float on Monday said its existing investors Amazon.com, Ribbit Capital, SAIF Partners and Sequoia Capital have collectively invested $15 million in the company.
The lender plans to use the funds to bolster its capital base and expand its lending operations to small and medium enterprises (SMEs) and retail consumers.
With the latest investment, total equity raised by Capital Float so far stands at $125 Million ( ₹800 crore). The company has also raised $300 Million ( ₹2,200 crore) in debt funding to date, the statement said.
The fund infusion from its existing investors comes at a time when the covid-19 pandemic has put India in a nationwide lockdown impacting the repayment potential of small and medium