Capital Float, a FinTech startup that wants to make it easier for digital SMEs to get loans, has raised a $13 million Series A led by SAIF Partners and Sequoia Capital.
capitalfloat
The Bangalore-based company has delivered over Rs 40 cr in loans to SMEs across 10+ cities, and will used its latest funding to expand into more cities, improve its tech platform, and launch new products.
Currently the company utilizes its equity to finance loans, but is looking at partnering with banks and individual investors to raise capital.
Seventy percent of firm’s loan applicants are vendors who sell goods on e-commerce marketplaces such as Snapdeal, Flipkart and Amazon.in.

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