India: Non-bank lender Ess Kay Fincorp raises $46m from TPG Growth, Norwest, others
Photo: Ayaneshu Bhardwaj / Unsplash.com
May 13, 2021
Non-bank financier Ess Kay Fincorp Ltd on Thursday said it has raised ₹337 crore ($46 million) from a clutch of investors.
Existing investors TPG Growth, Norwest Venture Partners and Evolvence, along with promoter Rajendra Setia, invested as part of this round, it said.
With this investment, the company said it has raised over ₹1,000 crore ($136 million) of external capital from marquee investors.
The transaction reiterates the investors’ conviction in Ess Kay’s superior execution capabilities, consistent performance and unique positioning in the significantly underpenetrated used vehicle, and small and medium enterprise (SME) finance space, the lender said in a statement. Spark Capital acted as an exclusive financial adviser to the company in relation to the transaction.
Ess Kay raises Rs 337 crore from existing investors, promoter
SECTIONS
Last Updated: May 13, 2021, 08:08 PM IST
Share
Synopsis Over the years, we have created a niche positioning for ourselves in the rural and semi-urban markets with deep distribution across north, west and central India, on-ground sales and collection infrastructure to cater to the underserved customer segment, strong underwriting and focus on asset quality, Setia said.
Getty Images
TPG Growth, Norwest Venture Partners and Evolvence are existing investors in the company and with this round, the overall capital raised from external investors has breached the Rs 1,000 crore mark.
Used vehicles and small businesses-focused lender Ess Kay Fincorp on Thursday announced that it has raised Rs 337 crore from PG Growth, Norwest Venture Partners, Evolvence and promoter Rajendra Setia in a new round of funding. TPG Growth, Norwest Venture Partners and Evolvence are existing investors in the company and with this roun
Redwood City (PRWEB) May 12, 2021 [REDWOOD CITY, CALIFORNIA] (May 12, 2021) – Simpplr has been named to Inc. magazine’s annual list of the Best Workplaces
Legion, a Redwood City, CA-based AI-powered workforce management company, raised $50M in Series C funding.
The round was led by Stripes with participation from existing investors Norwest Venture Partners, First Round Capital, XYZ Ventures, Webb Investment Network, and Dollar General.
The company plans to use this funds to increase hiring and accelerate product innovation.
Led by Sanish Mondkar, CEO and founder, Legion Technologies provides an automated, AI-powered workforce management platform to lower costs, reduce compliance risks and labor inefficiencies and boost employee engagement across industries, including retail, distribution, hospitality, healthcare, and manufacturing.
Through the company’s mobile app, employees can share scheduling preferences, view upcoming shifts, swap shifts, and more.