![Loading...](https://assets.techcircle.in/static-assets/images/spinner-1s-64px.gif)
AION Capital invests Rs 280 cr more in SME lending platform Clix
![AION Capital invests Rs 280 cr more in SME lending platform Clix](https://assets.techcircle.in/uploads/article-image/2019/09/images/20131-invest.jpg)
![Loading...](https://assets.techcircle.in/static-assets/images/spinner-1s-64px.gif)
Small and medium enterprise (SME)-focused lending platform Clix Capital has raised Rs 280 crore from existing investor private equity firm AION Capital Partners.
Promoters Pramod Bhasin and Anil Chawla also participated in the funding round, the Gurgaon-based company said in a statement.
The funds will be deployed to expand its business across the consumer finance segment and build its digital platform, the statement added.
![Loading...](https://assets.techcircle.in/static-assets/images/spinner-1s-64px.gif)
“At Clix, we are continuously trying to bridge the credit gap in unserved and underserved segments such as new-to-credit customers and MSMEs. Towards this objective, we use cutting-edge technologies and insightful innovations to drive lending models that are responsive to the needs of end-customers while significantly expanding financial inclusion,” said Bhasin, co-founder and chairman, Clix Capital.
The financial services provider claims it has reached four million customers in three years and is targeting a loan book of Rs 5,500-6,000 crore by the end of FY20.
Clix Capital, founded in 2016 by Bhasin and Chawla, offers financing solutions across five business segments - corporate finance, equipment finance and leasing, SME finance, consumer finance and housing finance. The company is present in 12 cities.
![Loading...](https://assets.techcircle.in/static-assets/images/spinner-1s-64px.gif)
Private equity firm AION Capital is a joint venture between US-based private equity major Apollo Global Management and domestic PE firm ICICI Venture. It holds an 85% stake in Clix Capital while Bhasin and Chawla own the rest.
“Apart from the infusion of capital, as a majority partner, we are committed to bringing in our global best experiences and expertise of technology and practices to Clix’s business. Our attempt would be to grow the Clix business steadily while maintaining a watchful eye on asset quality and profitability,” said Parth Gandhi, senior partner and managing director, AION Capital.
Bhasin and Chawla partnered with AION to jointly acquire the commercial lending and leasing business of GE Capital India in September of 2016. They renamed the venture as Clix Capital.
![Loading...](https://assets.techcircle.in/static-assets/images/spinner-1s-64px.gif)
Bhasin was the founder of Genpact and former CEO of GE Capital India and Asia while Chawla was the former CEO of GE Capital India and Asia’s commercial finance business.