Fintech firm Capital Float raises Rs 50 cr debt funding from Triodos IM

Fintech firm Capital Float on Wednesday said it has raised Rs 50 crore in debt for a period of three years from Triodos Microfinance Fund and Triodos Fair Share Fund.

The two entities are financial inclusion funds managed by The Netherlands-based Triodos Investment Management (Triodos IM) - a wholly-owned subsidiary of Triodos Bank that manages EUR 5.4 billion in assets under management (AUM).

Since January this year, Capital Float has raised over Rs 200 crore in debt.

"These funds are being strategically deployed towards scaling up growth in credit delivery, as the company has doubled its base over the last eight months to over two million customers," a statement said.

The company operates a 'Buy Now Pay Later' product, in partnership with leading online platforms and brands. It also offers a full suite of financial planning and management tools through its Walnut app, including small-ticket credit facilities for self-employed entrepreneurs and salaried professionals.

"We are delighted to have Triodos IM as our long-standing debt partner and we truly value their support in our journey. This agreement reflects the strength of our association and further enables us to unlock new opportunities in digital credit in India," Sashank Rishyasringa, co-founder and MD of Capital Float, said.

Capital Float said it is currently maintaining a credit origination run rate of over Rs 120 crore per month.

The company aims to cross 4 million credit customers by the end of this fiscal year, with a 2x increase in run rate disbursals.