Hotline: 1800 102 2007
Hotline: 1800 102 2007
Oct, 01 2019

Clix Capital announces $40 mn fresh capital infusion from existing investors

Strong focus on technology and strategic partnerships has helped Clix scale up and expand its footprint to 4 million customers in a short span of 3 years.

Clix Capital announces $40 mn fresh capital infusion from existing investors

Clix Capital Services Pvt Ltd (Clix), one of India’s leading digital-lending NBFCs, has announced its latest round of capital infusion of $40 million from its existing investors AION Capital Partners Ltd as well as its promoters Pramod Bhasin and Anil Chawla.

Strong focus on technology and strategic partnerships has helped Clix scale up and expand its footprint to 4 million customers in a short span of 3 years. The company is targeting a loan book of Rs 5,500-6,000 crore by the end of FY20 as compared to Rs 5,000 crore currently.

Augmenting the Company’s original capital base of $250 million (INR 1,800 crores), the latest round of funding will be used to expand the business across its varied segments especially consumer finance and digital platforms. Clix has a presence across 12 cities in India and envisages deeper penetration in these markets.

With the fresh equity infusion, Clix is planning to continue its steady credit quality-led growth, focussing on the retail-lending segment to achieve a ~70% composition by March 2020. The company believes the current liquidity squeeze in the lending space is also likely to present additional opportunities for selective acquisitions.

Pramod Bhasin, Founder & Chairman, Clix Capital, said, “At Clix, we are continuously trying to bridge the credit gap in the unserved and underserved segments such as new-to-credit customers and MSMEs. Towards this objective, we use cutting-edge technologies and insightful innovations to drive lending models that are responsive to the needs of end-customers while significantly expanding financial inclusion. I’m delighted at the latest infusion of funds, which reinstates our confidence and trust in Clix’s potential. We believe that despite the current economic scenario, India represents a huge opportunity in the long-term.”

Parth Gandhi, Senior Partner and Managing Director, AION Capital, stated, “Quality and scale will determine success in financial services in the future. Apart from the infusion of capital, as a majority partner, we are committed to bring in our global best experiences and expertise of technology and practices to Clix’s business. Our attempt would be to grow the Clix business steadily while maintaining a watchful eye on asset quality and profitability.”

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