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Clix Capital Raises INR 220 Cr in Equity Funding Led by Existing Investors The Gurugram-based company plans to utilise these funds to strengthen its lending capabilities across the MSME, education, and healthcare equipment sectors and significantly invest in new-age technologies.

By Entrepreneur Staff

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Rakesh Kaul, Chief Executive Officer, Clix Capital

Clix Capital, a Gurugram-based non-banking finance company (NBFC), has secured INR 220 crore in an equity funding round led by existing investors Apollo Global Management, Pramod Bhasin, and Anil Chawla.

The fresh capital injection will bolster Clix Capital's lending capabilities across the MSME, education, and healthcare equipment sectors, while also enabling significant investments in cutting-edge technologies.

"This (funding round) will further energise the teams in fulfilling our purpose of serving the underserved MSMEs across India. This comes at an opportune time, given the government's thrust on the MSME sector and its vision for Viksit Bharat," said Rakesh Kaul, Chief Executive Officer, Clix Capital.

Founded in 2016 by Pramod Bhasin, Anil Chawla, and Rakesh Kaul, Clix Capital—formerly known as GE Money Financial Services—provides a range of financial products, including business loans, loans against property, and school financing.

The company offers SME/MSE loans, working capital loans, and unsecured business loans. With over 1,000 employees and operations spanning more than 2,100 pin codes across India, Clix Capital claims to have established a robust presence in the market.

CM Vasudev, Chairman, Clix Capital, said, "India's NBFC sector has demonstrated tremendous growth potential and has seen a significant re-rating in recent times. The MSME sector, being a critical contributor to employment generation and to India's GDP growth, has been a strong focus area for Clix Capital.

"With a robust foundation, Clix Capital has come a long way in its journey of fulfilling the aspirations of unserved Indian MSMEs. Apollo's commitment and confidence in our vision are evident in their continued support through this equity infusion," Vasudev added.

Currently, Clix Capital manages assets worth over INR 6,000 crore, with a gross bad loan ratio of less than 2%. As of March 2023, the company reported an AUM of INR 4,484 crore and has disbursed INR 26,000 crore to the MSME sector.

Entrepreneur Staff

Entrepreneur Staff

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