Credifin, a non-banking financial company, has raised USD 24.9 million (Rs 213.6 crore) through a mix of equity and debt to fuel its growth in MSME mortgage loans and E-vehicle financing.
The fundraising includes around 6.7 per cent equity and 93.3 per cent debt.
The money will be used to fund the aggressive growth that the company is witnessing in the segments that it operates in, the Jalandhar-based company said in a release.
The company provides secured MSME mortgage loans against immovable property (LAP) and finance E-vehicles.
The debt has been raised from existing lenders, onboarding new lenders and through other instruments.
Some of the new lenders include Northern Arc Capital, ESAF Small Finance Bank, ICICI Bank, Kissandhan Agri Financial Services, Electronica Finance Ltd and Maanaveeya Development & Finance, the release said.
“Today out of our total collections, more than 80 per cent are done digitally,” said Shalya Gupta, CEO, Credifin Ltd.
Lenders currently working with Credifin include SBI, AU Small Finance Bank, Cholamandalam Investment and Finance Company, SMC Moneywise, Vivriti Capital, MAS Financial Services, Shriram Transport Finance, Unicom Fincorp, Vivriti Asset Management and SK Finance.
Operating in 13 states and UT, Credifin has presence in over 200 locations and employs more than 700 people.
Credifin closed its third quarter of 2024-2025 with Assets under management (AUM) of Rs 312 crore.
