Capital Float Raises $45 Million

Fintech startup Capital Float announced the completion of $45 million in Series C financing. Four investors contributed to the round: Ribbit Capital, SAIF Partners, Sequoia India, and Creation Investments.

Capital Float is an online platform that provides working capital finance to SMEs in India. It offers flexible, short-term loans that can be used to purchase inventory, service new orders, or optimize cash cycles. Borrowers can apply online in minutes, select desired repayment terms, and receive funds in their bank accounts within seven days with minimal hassle.

The company revealed that Capital Float will use its Series C to double its customer base to 30,000 during the next seven to eight months. It will also increase its monthly disbursals from $31 million to $70 million per month, spread across 10,000 individual loans.