India based online lending platform Capital Float has raised $45m in Series C financing led by Ribbit Capital. Capital Float is an online platform that provides working capital finance to SMEs in India.
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Capital Float raises $45m Series C
Capital Float’s investor Ribbit Capital is a Palo Alto-based venture capital firm that focuses on financial tech. In a press statement, partner Nick Shalek said “We’ve been impressed with the Capital Float team since the first time we talked with them about their business four years ago. The company has achieved remarkable growth by delivering innovative products to small businesses and consumers, while at the same time providing attractive returns to investors on the platform.” While its first users were online vendors and other businesses taking advantage of India’s e-commerce boom, Capital Float has expanded to other verticals, including transportation (it has loan products targeted to Ola and Uber drivers), manufacturing and retail.
