HomeBusinessAION Capital Partners infuses $40 million in Clix Capital

AION Capital Partners infuses $40 million in Clix Capital

Reader's Pick

India’s leading digital-lending platform for SMEs, Clix Capital has raised $40 million as fresh funding from its existing investors AION Capital Partners Ltd, and its promoters Pramod Bhasin, and Anil Chawla.

The new round funding, which led by AION Capital Partners, “Will allow the company to expand its business across in varied segments, especially consumer finance and digital platforms,” the company in its statement said.

The company, which has a presence across 12 Indian cities, and envisages deeper penetration in the markets, will use the fresh funding to continue planning its steady credit quality-led growth and focus on the retail-lending segment to achieve 70 percent composition by March 2020.

Further adding to the statement, Clix stated: “The company believes the current liquidity squeeze in the lending space is likely to present additional opportunities of selective acquisitions.”

- Advertisement -

Speaking on the new round funding, Pramod Bhasin, Promoter & Founder, Clix Capital, said, “At Clix, we are continuously trying to bridge the credit gap in the unserved and underserved segments such as new-to-credit customers and MSMEs.”

“I’m delighted at the latest infusion of the funds, which reinstates our confidence and trust in Clix’s potential, We believe that despite the current economic scenario, India represents a huge opportunity in the long-term,” Pramod added.

Adding more on the AION Capital’s investment in Clix, Parth Gandhi, Senior Partner and Managing Directors at AION Capital, said: “Quality and scale will determine success in financial services in the future. Apart from the infusion of capital, as a majority partner.”

“We are committed to bringing in our global best experiences and expertise in technology and practices to Clix’s business. We would attempt to grow the Clix business steadily while maintaining a watchful eye on asset quality and profitability,” Parth added.

close

Stay on top of Budget 2023 with our newsletter

- Advertisement -

We don’t spam! Read our privacy policy for more info.

close

Stay on top of Budget 2023 with our newsletter

We don’t spam! Read our privacy policy for more info.

- Advertisement -

Read latest Business News and Startup news on TechGraph. Watch live and latest news on TechGraph TV. Follow us on Facebook or follow us on Twitter and Instagram. Listen audio news from TechGraph Briefings on Spotify, Google Podcast, Amazon Music & on Apple Podcast.
 

Krishna Mali
Krishna Mali
Founder & Editor of TechGraph.

Latest News

Promoted Links

Related Stories

Sino-US trade war offers Europe’s chance to bank more Chinese reserves: Analysis

Should European countries want the euro to replace the dollar as the world's do...

Japan approves 26 trillion yen as economic stimulus package to combat overseas risks

Japan's cabinet approved an economic stimulus package worth 26 trillion yen ($2...

1Win App: Review India Apk for Android and iOS

The company 1Win has been successfully operating in the markets of many countri...

Employees union seeks FIR against Jet Airways boss Naresh Goyal, Vinay Dube and on SBI Chairman

The employee union of Jet Airways, which is facing its worst crisis, Friday sou...

Samsung Electronics asks its shareholders to use electronic voting for upcoming AGM

Technology giant Samsung Electronics has adopted electronic voting for the firs...

Rahul Gandhi hits on RCEP says, ‘Make in India’ has become ‘Buy from China’

Asserting that "Make in India" has become "Buy from China," Congress leader Rah...

NASA astronauts to carry first ever all-female spacewalk on 29 March

Two NASA astronauts are scheduled to carry out the first ever all-female spacew...

Ampere Electric to setup e-mobility manufacturing plant in Tamil Nadu

Electric Mobility Company Ampere Electric has announced a phased investment pot...

Google joins Progcap $40 million funding round

Progcap, a New Delhi-based fintech platform for small and mid-size businesses (...

COVID-19: Amazon India partners with Acko General Insurance to offer free health insurance to sellers

India's leading e-commerce company Amazon India on Wednesday announced its part...