Capital Float, India’s leading BNPL and credit platform, ended FY21 on a high note. It crossed 2 million lifetime customers, a 4x increase from March 2020. It has now financed over INR 2000 crores worth of consumer purchases through its Buy-Now-Pay-Later (BNPL) model till-date, making it the fastest-growing BNPL platform in India. Additionally, Capital Float’s Walnut app surpassed the 500,000 active customers mark and has seen considerable traction for consumer credit, personal financial management and insurance.
The company celebrated several significant milestones in Q4. It achieved a 220%+ increase in BNPL disbursals when compared to
Q4 FY20, and in March 2021 alone the company financed over a million transactions. Capital Float has been adding over 150,000 customers each month through value-driven online credit offered across e-commerce, travel, ed-tech and other key sectors, and across a wide range of personal needs. The company also raised INR 150 crore in debt in Q4 FY20, adding to the already strong reserve in the balance sheet. Capital Float ended FY21 at a monthly disbursal run rate of INR 140 crores and an NNPA of 1.56%.
Gaurav Hinduja, Co-Founder & MD, Capital Float said, “We are happy to have witnessed such rapid growth in our customer base over a short period of time. Our digital finance platform has brought millions of Indians closer to formal credit lines, many of whom have been traditionally underserved. Our ‘Buy Now Pay Later’ offering has emerged as a popular choice for millennial Indians in the 25-40 years age group, who make up nearly 70 percent of our customer base and favour simple, transparent, and contextual digital-first financial products. These customers represent the next frontier for financial services, as nearly 50% of them don’t possess credit cards, 40% had never taken a personal loan before, and over half reside in non-metro cities. Apart from the widespread adoption of our buy now pay later offering, we’re seeing exceptional repayment behaviour as well. We ended FY21 with a collection efficiency of over 96%.”
Capital Float has executed a robust BNPL model across tier 1, 2 and 3 cities, with a reach of more than 10,000 pin codes across India. The company has also issued small-ticket term loans to over 70,000 self-employed individuals, business owners, and salaried professionals across the country.