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Small-business lender Finova Capital raises $135 million to expand loan book, invest in tech | Company Business News

Small-business lender Finova Capital raises $135 million to expand loan book, invest in tech

Finova Capital, a small-business lender, has raised $135 million in a Series C funding round to expand its loan book and invest in technology.

The round was led by existing investor Elevation Capital, with participation from new investors such as Lightrock India, Sequoia Capital India, and Matrix Partners India.

Finova Capital will use the funds to expand its loan book, which currently stands at around Rs 1,500 crore. The company also plans to invest in technology to improve its underwriting process and customer service.

“We are excited to have raised this funding from such a renowned group of investors,” said Faircent.com co-founder and CEO Rajeev Yadav. “This funding will allow us to accelerate our growth plans and continue to provide small businesses with the financing they need to succeed.”

Finova Capital is a leading provider of small-business loans in India. The company has disbursed over Rs 1,500 crore in loans to over 10,000 small businesses across the country.

The company's loan products are designed to meet the unique needs of small businesses. Finova Capital offers loans of up to Rs 50 lakh, with flexible repayment terms and competitive interest rates.

Finova Capital is committed to providing small businesses with the financing they need to grow and succeed. The company's mission is to make small businesses the backbone of the Indian economy.

The company's growth plans include expanding its reach to new markets and developing new loan products. Finova Capital is also looking to invest in technology to improve its underwriting process and customer service.

The company's strong track record and experienced management team make it well-positioned for continued growth in the future.