Credifin Limited Secures Rs 213 Crore for Business Expansion

Credifin Limited, a Metropolitan Stock Exchange of India listed, NBFC, Head quartered in Jalandhar with Corporate Office in Delhi-NCR, announced that it has raised Rs. 213.6 crore, or US$ 24.9 Mn capital through a mix of equity and debt. This includes around 6.7% equity and 93.3% debt. This money will be used to fund the aggressive growth that the company is witnessing in the segments that it operates in.

Credifin is a Non-Deposit accepting Non-Banking Financial Company registered with Reserve Bank of Indiasince 1998. The company offers Mortgage loans against immovable property (Loan Against Property or LAP) and financing E-vehicles primarily E-rickshaws, E-loaders and EV – 2 wheelers.

Credifin has been on a growth overdrive, clocking impressive growth over the last 4 years. It is strengthening existing offices, opening new geographies at a rapid pace and offering newer products to cater to the requirements of the people left behind by the traditional lending channels. Credifin Limited is strongly committed to the Country’s vision of Financial Inclusion and is working tirelessly to provide viable financial solutions to the lower segment in the chain and coming up with viable financial solutions that impact 

To cater to the continuous requirement of funds to serve the ever growing product portfolio, the company has successfully raised around Rs. 213 crores through equity and debt. The debt has been raised from existing lenders, onboarding new lenders and through other instruments. Some of the new lenders include Northern Arc Capital, ESAF Small Finance Bank, ICICI Bank, Kissandhan Agri Financial Services, Electronica Finance Limited and Maanaveeya Development & Finance. 

“Our existing lenders have again reposed faith in our offerings and have been a pillar of strength. In addition, the new lenders this year include the who’s who of the industry and we are fortunate that they are partnering with us in taking forward the Credifin revolution, focusing on building Bharat and serving the underserved communities. I am equally grateful to our 1700 strong dealer network, 700 member team, which is providing tailwinds to this growth momentum”, says Shalya Gupta, CEO, Credifin Limited. “We are a true proponent of digital payments and today out of our total collections, more than 80% are done digitally. This is something that I am justifiably proud of and the credit for this goes to our robust IT infrastructure”, he adds.

Some of the lenders currently working with Credifin include SBI, AU Small Finance Bank, Cholamandalam Investment and Finance Company, SMC Moneywise, Vivriti Capital, MAS Financial Services, Shriram Transport Finance, Unicom Fincorp, Vivriti Asset Management and SK Finance.