Digital lending platform Capital Float announced today that it has raised USD 45 million or approximately Rs 293 crores in a Series C equity funding. The round was led by Silicon Valley-based Ribbit Capital, with participation from existing investors SAIF Partners, Sequoia India and Creation Investments, Capital Float said in a statement. This brings the total amount of fresh capital raised in the last 12 months to over USD 112 million or about Rs 730 crores. "We are growing at an exciting pace, currently originating over Rs 200 crores in disbursals every month. Capital Float will utilise these funds to increase its geographic footprint, improve customer experience and launch a new set of innovative credit products for SMEs across India, it said.

Source: dna August 22, 2017 08:26 UTC