San Antonio, Texas headquartered cloud solutions provider Rackspace Technology has developed a cloud based financial platform to enable Clix Capital, a non-banking financial company (NBFC), to launch, operate, and provide loans to Indian consumers and enterprises.
Built on Amazon Elastic Compute Cloud (EC2), Rackspace's solution delivers a scalable, robust, and secure financial platform for Clix Capital to deliver greater value to its consumers and enterprise customers, the company said in a statement.
Rackspace Tech had signed a multi-year strategic collaboration agreement (SCA) with Amazon Web Services (AWS) in July 2020.
“Our deep collaboration, know-how, and expertise in AWS was critical in building Clix Capital’s next generation platform in India. When they first approached us with this unique challenge, we were certain that building on AWS was the way to launch this innovative platform for Clix Capital,” Sandeep Bhargava, Managing Director, Rackspace Technology Asia Pacific and Japan said.
Additionally, Rackspace also offers its multi-cloud management solution CloudHealth, which is capable of providing insights into cloud usage and costs and offers robust optimisation and governance tools.
Leveraging the CloudHealth solution has given Gurugram based Clix Capital access to best practice recommendations and enhanced security within AWS, the company said.
Founded in 2016 as GE Money Financial Services by Pramod Bhasin and Anil Chawla, Clix Capital pivoted in 2019 to target the alternative lending and loans business as a NBFC. The company is now expanding into varied segments, especially the consumer finance and Micro Small and Medium Enterprises (MSME).
In 2019, Clix Capital raised Rs 280 crore from existing investor private equity firm AION Capital Partners.