Capital Float

Lending | SME Financing

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FOUNDING YEAR: 2013

LOCATION:

India

REGION:

Karnataka

Last Update:
9 Sep, 2019

Description

Capital Float is an online platform that provides working capital finance to SMEs in India. The company offer short-term loans that can be used to purchase inventory, service new orders or optimize cash cycles. The company has issued loans to businesses from their loan book and also through their lending partners.

FOCUS

PRODUCTS & SERVICES:

CapitalFloat provides working capital loans for e-commerce merchants. It offers loan to SMEs of an average value of INR 50,000 to 5,00,000 with a repayment tenure of 16 to 18 months. It offers various type of loans products namely: 1-Term Finance: It offers short-term unsecured business loans to SMEs in order to meet their operational needs. 2-Online Seller Finance: It helps sellers to grow their marketplace by providing them with finance options. 3-Pay Later Finance: It is a rolling loan product that helps SMEs to make payments to their suppliers within 24 hours. This product carries a predefined credit capacity which can be used by applicant to make drawdowns and repay the amount to the suppliers. 4-Merchant Cash Advance: It offers a loan option to merchants with consistent card settlements and short-term investment requirements. 5-Supply Chain Finance: It provides accounts receivable financing to merchants, which enables them to liquidate their invoices into cash. 6-Taxi Finance: It enables drivers to raise capital to buy a car and join the radio taxi business. 7-Doctor Loans: It is a professional loan that helps doctors to raise finance for their practice, equipments, clinic, staffs etc. 8-School Finance: It helps schools in India to upgrade and expand their existing infrastructure by offering them collateral-free finance product.

REVENUE MODEL:

Viewable by subscribers only

MAIN CLIENTS:

Business Borrowers

EXISTING PARTNERSHIPS:

Amazon, Flipkart, Snapdeal, Paytm, Myntra, and ShopClues - To acquire more visibility and understand the conduct of potential customers

COMMENT

The loan application process is simple and user-friendly where users can submit all their basic information under 10 minutes and also upload all the relevant documents digitally. The loans are generally disbursed within 72 hours. The company claims a delinquency rate of lower single digit rate. It also offers customised loan products like: 1) Doctor Loans: Through this financial product, doctors can avail loans up to INR 30,00,000 with a repayment tenure of 1-4 years. 2) School Finance: Through this financial product, schools and institutions are eligible for a loan amount up to INR 50,00,000 with a repayment tenure of 3-5 years.

PEOPLE

FOUNDERS:

Gaurav Hinduja, Sashank Rishyasringa

Board Members and Advisors:

Baba Shiv, Lizzie Chapman

NUMBER OF EMPLOYEES:

51-200

INVESTORS:

Amazon India, Ribbit Capital, SAIF Partners, Sequoia Capital, Onsite , Creation Investments, Mahindra Finance, Northern Arc, Hinduja Group, Aspada Investments, OCSIPL, BGCC, Mahindra, Bonanza Portfolio, Castleton Commodities International, Gayathri Satish, Jai Shamsunder Rupani, Chimanlal Talreja, Prakash Ramachand Belani, Preeti Belani, Alok Goel, Rekha Lakshman, Dinesh J Hinduja

TRACTION

VALUATION / MARKET CAP:

$31.62 MM in 2017

MOMENTUM

FUNDED:

YES

TOTAL FUNDING:

$110 Million

DATE OF LAST FUNDING:

Apr 2018

TOTAL FUNDING COMMENT:

The company is planning to use the fund to continue to expand operations(April 2018).

SEED & PRIOR FUNDING:

$3 Millions

SEED CLOSED ON:

Aug 2014

FUNDING SERIES:

SERIES A

$13 Million Closed: Feb 2015

SERIES B

$25 Millions Closed: May 2016

SERIES C

$67 Millions Closed: Apr 2018

DEBT FUNDING:

$2.53 Millions

LISTED:

COMMENT:

Non convertible note: $2.3 M(Apr 2017)

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