Moneycontrol
Last Updated : Jan 08, 2018 03:59 PM IST | Source: CNBC-TV18

Done with capital raising for near term, says Satin Creditcare

In an interview to CNBC-TV18, HP Singh, Founder & MD of Satin Creditcare spoke about the investment and discussed the business outlook.

CNBC TV18 @moneycontrolcom

Satin Creditcare Network is on radar after the company partnered with Kora Management. Kora has made an equity investment of Rs 80 crore to help support Satin Creditcare's growth and digital initiatives.

In an interview to CNBC-TV18, HP Singh, Founder & MD of Satin Creditcare spoke about the investment and discussed the business outlook.

Singh said this is part of our preferential allotment, which we have on December 22, 2017, so this has been part of our fund raise of Rs 205 crore.

He further said that Kora has come in as an investor and they are also joining the board.

Kora has a lot of on ground capabilities and expertise in technology across Latin America, China etc. We want to gain some value addition from them in terms of our digital push across in our lending terminologies, he added.

We are done with capital raising for the near term, said Singh.

He further said that the promoter holding has come down from 32 percent to 29 percent as a result of equity dilution.

Watch accompanying video for more details.
First Published on Jan 8, 2018 02:53 pm

tags #Business

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