Clix Capital Secures Rs 220 Crore in Funding to Boost MSME Lending

Non-bank lender Clix Capital has raised Rs 220 crore in a funding round led by Apollo Global Management, Pramod Bhasin, and Anil Chawla. The funds will enhance lending capabilities in MSME, healthcare, and education, and will be also used for technological improvements. Clix Capital has surpassed Rs 26,000 crore in lifetime disbursements.

Non-bank lender Clix Capital announced a significant Rs 220 crore fundraise on Thursday in a round led by Apollo Global Management, Pramod Bhasin, and Anil Chawla.

According to an official statement, the non-banking finance company intends to bolster its lending capabilities across MSME sectors, healthcare equipment financing, and education through this capital infusion.

The funding will also support technological advancements, including investments in artificial intelligence and machine learning tools, and help improve the credit profile. Chief Executive Rakesh Kaul highlighted that this funding arrives at an ideal moment, energizing the team to fulfill its goal of providing credit access to underserved small businesses nationwide.

Apollo's head of India private equity, Utsav Baijal, noted that the fund had previously invested in Clix Capital and observed substantial value creation. He expressed optimism for further growth as the company expands its footprint within India's burgeoning MSME sector.

Clix Capital has surpassed Rs 26,000 crore in total lifetime disbursements, with current assets under management standing at over Rs 6,000 crore and gross non-performing assets less than 2 per cent. The company employs over 1,000 people and operates in 2,100 pincodes across India.

(With inputs from agencies.)