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The Silicon Review Asia

Digital Lending Startup Capital Float Raises $50 Million

Digital Lending Startup Capital Float Raises $50 Million

The funding will be used to strengthen and scale Capital Float’s BNPL platform

The pioneering digital lending company Capital Float has announced that it has secured $50 million in funding. The funding was led by Lightrock India. Ribbit Capital, Sequoia Capital India, Creation Investments and Dinesh Hinduja family office participated in the round among the existing investors, in addition to new investors David Vélez, founder of Nubank, Kunal Shah, founder of Cred, and Amrish Rau, CEO of Pine Labs.

"Capital Float has solved the unique triumvirate of customer experience, risk management, and merchant partnerships that lies at the heart of unlocking the BNPL opportunity in India. In addition to its strong technology platform, it has built a sophisticated underwriting and collections capability, along with an ethical lending playbook, that makes the model very compelling," said Saleem Asaria, Partner at Lightrock India, in a statement.

The fresh funding will be used to support the company's BNPL platform and expand its partner ecosystem.

In the recent times, Capital Float has partnered with leading platforms, including BoAt, MakeMyTrip, Unacademy, and Amazon. The company has also seen a rapid growth over the past year where it has amassed 2.5 million customers now. 

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