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Amazon is already an investor in Axio, which houses NBFC CapFloat. It had participated in its Rs 144 crore worth extended Series C round back in 2018, and currently holds around 8% of the lending platform.
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The Bengaluru-based firm offers loans via its own books as well as in co-lending partnership with banks and other NBFCs besides pay later option and personal finance management.
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The move brings the company’s three consumer finance products - pay later, personal credit, and money management - together, said the rebranded firm, axio.
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The RBI is working to plug the KYC loopholes after customers complained of loans being sanctioned to unknown individuals using their PAN card through Indiabulls Dhani
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The report highlighted that it is crucial for payments players to monetise their customer and merchant base to have a sustainable revenue model. CLSA expects the Buy Now Pay Later market to grow five times by FY26
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The company said it has witnessed rapid growth over the past year, with 2.5 million customers now using its product to finance over Rs 2,000 crore of online purchases annually.
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With the ongoing COVID-19 pandemic having completely transformed our income and spending patterns, liquidity situations, and strengthening our digital payment habits, the Indian fintech sector garnered investments worth 1,402.8 billion just in the first half of 2021.
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The startup, which was struggling through much of 2019, claims to have retained Rs 200 crore in cash balances and improved asset quality
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Bengaluru-based digital lender Capital Float announced on Monday it has completed a USD 15 million (Rs 110 crore) equity fund-raise from its existing investors.
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‘Less is more’ to be the guiding principle for 2020 for the digital lender.
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The acquisition comes shortly after Capital Float announced its foray into the consumer finance vertical
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This takes the company's total funding to nearly USD 110 million. In addition, the company has also raised total debt amounting to USD 130 million from banks and NBFCs
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The company "expects to disburse loans worth Rs 5,000 crore and fund 20,000 customers in FY 2017-18", Capital Float said in a statement.
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Founded in 2013, Capital Float offers loans based on cash flows, expected receivables, financials, CIBIL scores and banks statements to SMEs. The loans range from Rs 1 lakh – Rs 1 crore with a tenure between 1 – 36 months.
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Small retailers can now avail working capital from Capital Float, which will help them manage inventory and cash flows with added scalability, Capital Float said in a statement.
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It is easier to understand why e-wallet payments are catching on fast in India. More people own smart phones now and are becoming tech-savvy. And e-wallet providers are fighting it out among themselves to grab more of this market share.
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Rahul Yadav's much anticipated second coming seems to have gone off track as the former Housing.com CEO's e-governance startup Intelligent Interfaces has been unable to find any takers and even as Yadav explores the option of coming back to the online real estate space, he is not fighting shy of leveling the blame elsewhere.
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The Series B financing also saw "significant participation" from existing investors like SAIF Partners, Sequoia India and Aspada, Capital Float said in a statement.
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Half day session that explored crossroads of finance and ...
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Alibaba.Com, which connects buyers and wholesale suppliers globally, has 40 million users globally and 4.5 million users in India.
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Announces strategic alliances with Mahindra Finance, Bajaj Finserv, ...
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Together with Capital Float, eBay hopes to provide its seller-partners with that much needed shot of capital to help them win in a highly competitive market, the companies said in a statement.
