Digital lending platform Capital Float today said it expects to disburse loans of Rs 5,000 crore in 2017-18 financial year.
The company "expects to disburse loans worth Rs 5,000 crore and fund 20,000 customers in FY 2017-18", Capital Float said in a statement.
The company today claimed to have disbursed Rs 1,000 crore loans to 7,000 customers. "The company disbursed this amount in under ten months, from April 2016 to January 2017," the statement said.
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Capital Float provides services such as Pay Later and Merchant Cash Advance which accounted for 35 per cent of the loans disbursed.
"The Unsecured Business Loans and Vehicle Finance witnessed 300 per cent and 85 per cent growth respectively," the statement said.
Capital Float Co-Founder and MD Sashank Rishyasringa said the company has seen 700 per cent growth in customer base and 500 per cent growth in disbursal value in 2016 compared to that in 2015.
The company has also partnered with Amazon, Uber, Ola, Paytm, VIA, Yatra, ICICI Merchant Services, Payworld etc to provide its financial service.
"About 50 per cent of the retail loans originated on Capital Float's online lending marketplace, which has blue-chip banking institutions (like IDFC) co-lending on the platform. Despite achieving this dynamic acceleration, Capital Float has managed to keep its NPAs under 1 per cent," the statement said.
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