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Triodos extends Rs 50 crore debt to Capital Float

Triodos extends Rs 50 crore debt to Capital Float
Photo Credit: 123RF.com
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Credit platform Capital Float has raised Rs 50 crore ($6.8 million) in debt for a period of 3 years from financial inclusion funds managed by Triodos Investment Management.  

The company has raised over Rs 200 crore in debt since January. It intends to use the funds towards scaling up its growth in credit delivery, Capital Float said.  

“This agreement reflects the strength of our association and further enables us to unlock new opportunities in digital credit in India,” Sashank Rishyasringa, co-founder and managing director of Capital Float, said. 

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Triodos IM, based in the Netherlands, is a wholly-owned subsidiary of Triodos Bank, one of the world’s leading sustainable banks, and manages 5.4 billion euros in assets. 

"Over the last three years, we have enjoyed a fruitful association with Capital Float. The company has demonstrated resilience and progressive growth year on year. We are pleased to renew our engagement and look forward to a strong and collaborative partnership with Capital Float,” Aditya Mohan, senior investment manager of Triodos IM, said.  

Capital Float currently maintains a credit origination run rate of over Rs 120 crore per month, at collection efficiencies of around 95%.  

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It aims to cross 4 million credit customers by the end of this fiscal year, with two times increase in run-rate disbursals, it said.  

Capital Float has partnered with many online platforms and brands and operates in Buy Now Pay Later segment. It also offers a full suite of financial planning and management tools through its Walnut app, including small-ticket credit facilities for self-employed entrepreneurs and salaried professionals.


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