Axis Alternatives News Today

SK Finance Ltd, an Indian NBFC engaged in used and new vehicle financing and secured business loans, said it has raised $159.9 million.

NBFC SK Finance has a diversified product portfolio, consisting of loan offerings in the categories of cars, commercial vehicles, tractors and two-wheelers, along with secured business loans.

TPG Growth-backed SK Finance, an NBFC engaged in used and new vehicle financing and secured business loans, raised Rs 1,328 crore from existing investors along with few other new investors.

SK Finance raised Rs1,328 crore from existing investors Norwest Venture Partners, TPG Growth, Baring Private Equity India, and new investors Motilal Oswals MO Alternate Investment Advisors, and Duro Capital. The funds will be used for brand, distribution, technology, and people. SK Finance, founded in 1994, offers commercial vehicle loans, car loans, tractor loans, two-wheeler loans, and secured business loans. It has a presence in 12 states with 500 branches and over 9,600 employees.