Capital Float Gets 💲25 M💰 In Series 🅱

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By Fråst🐺

An online lending platform for small businesses in 🇮🇳, Capital Float, announced📢 that it has closed a💲25 M Series 🅱 deal. This brings its total funding to 💲41 M. The funding was led by Creation Investments, followed by SAIF Partners, Sequoia Capital and Aspada. Founders Sashank Rishyasringa and Gaurav Hinduja👬 say the Series 🅱 funding will help the company sustain its plans for the future✨. The company wants to add another 20K customers👥 in the next year and originate 💲300 M new loans by reaching out to small business owners in Tier 2 & 3 cities in 🇮🇳. In the last 2 years, Capital Float has made a total of 💲60 M in loans to small businesses in more than 40 cities🏙. They have a monthly loan origination rate of 💲10 M and will grow 20% month-over-month in FY17.

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