IFC plans to fund LEAP India's expansion with $21-million investment

International Finance Corporation (IFC) plans to invest around $21 million in LEAP India, a supply chain solutions company. The money will fund the company's capital expenditure plans for the next five years. 

IFC's presence as an equity investor will provide comfort to additional investors and help the company attract more debt funding required to complete its expansion plans, said IFC.

In addition to the expected equity investment, the team will also explore long-term debt financing to the company that is currently not available in the local market, said the World Bank's investment arm.

Founded by Sunu Mathew, LEAP India is a leading provider of supply chain pooling solutions for wooden pallets and foldable large containers (FLCs) to a variety of industries.

Over the last four years, the company has built an asset base of 1.4 million pallets (softwood) and 29,802 FLCs. LEAP has a pan India network comprising 18 warehouses, 14 contract manufacturing centres and a team of 270 employees.

The company had earlier received two rounds of funding from private equity investors – Mayfield India II Ltd, Sixth Sense India Opportunities I and Indianivesh Growth and Special Situations Fund.