Amazon-backed Capital Float betting big on co-lending partnerships

Amazon-backed Capital Float, a digital lender, is betting big on co-lending partnerships to capture the financial services opportunities in the country. The firm also seeks to reduce its dependency on external funds.

This strategy is helping the firm — founded by Gaurav Hinduja, scion of Gokaldas Exports, and Sashank Rishyasring, alumnus of Stanford Graduate School of Business —penetrate deeper into tier-II and -III cities.

After enlisting Japanese firm Credit Saison to deliver working capital financing to micro, small and medium enterprises (MSMEs) across India, the Bengaluru-based firm has now forged a similar partnership with Poonawalla Finance, part of the $9.8-billion