These funds are being strategically deployed towards scaling up growth in credit delivery, as the company has doubled its base over the last eight months to over 2 million customers.
Fintech firm Capital Float on Wednesday said it has raised Rs 50 crore in debt for a period of three years from Triodos Microfinance Fund and Triodos Fair Share Fund. The two entities are financial inclusion funds managed by The Netherlands-based Triodos Investment Management (Triodos IM) - a wholly-owned subsidiary of Triodos Bank that manages EUR 5.4 billion in assets under management (AUM). Since January this year, Capital Float has raised over Rs 200 crore in debt. These funds are being strategically deployed towards scaling up growth in credit delivery, as the company has doubled its base over the last eight months to over two million customers, a statement said.
How The Pandemic Fueled The Rise of Buy Now Pay Later
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As the Indian consumer market shifted to online platforms to buy their goods during the last year, Buy-Now-Pay-Later (BNPL) or embedded finance options have become commonplace on most e-commerce platforms. These credit-payment options offer consumers a short loan for a specific purpose.
BNPL credit products or their technical embedded finance essentially offers customers a small loan instantly in certain stores or on e-commerce websites. The reason why it’s called embedded is because the financial component (BNPL) is within a larger product (say an e-commerce platform).
For instance, a student looking to buy a laptop on Amazon or Flipkart, can quickly apply for a loan to pay the Rs 30,000 bill. Within a few minutes, any of the BNPL and e-commerce partner lenders can check your credit score and offer you an instant credit line to pay for the product. All e-commerce apps from the stores to cab aggregators and food