Indian FinTech lender Capital Float has gained $15mn funding.
This comes from existing investors such as Amazon.com, Sequoia Capital, Ribbit Capital and SAIF Parnters.
This brings its equity capital raised so far to $125mn.
It will use the funds to expand its lending to SME and retail customers.
What does this mean?
Capital Float operates across 300 cities in India. It’s a challenging time for the company as India has put a three month moratorium on loan repayments due to the Coronavirus crisis, but according to LiveMint this may not be extended to Capital Float as a company – only to its customers.