New Delhi-based NBFC firm Clix Capital raises Rs 220 crore in equity funding

New Delhi-based NBFC firm Clix Capital has raised Rs 220 crore in fresh equity capital led by existing investors, including Apollo Global Management, Pramod Bhasin, and Anil Chawla. 

The firm plans to use the raised capital to bolster its lending capabilities in the MSME, Education, and Healthcare Equipment sectors.

Additionally, It plans to enhance its credit profile and significantly invest in modern technologies such as artificial intelligence (AI) and machine learning (ML).

"Delighted to see the confidence that the shareholders have reposed in us through this infusion. This will further energize the teams in fulfilling our purpose of serving the underserved MSMEs across India. This comes at an opportune time, given the government’s thrust on the MSME sector and its vision for Viksit Bharat," said Rakesh Kaul, CEO of Clix Capital.

Investor comments

Utsav Baijal, Partner and Head of India Private Equity at Apollo Global Management, said, “Our investment in Clix Capital has seen significant value creation and we are delighted to have participated in this equity round. We see ample headroom for growth in Clix Capital’s journey as it expands its footprint in India’s growing MSME sector.”

What does Clix Capital do?

Clix Capital was founded by Pramod Bhasin and Anil Chawla in 2016 through the acquisition of GE Capital’s lending and leasing business.

The firm offers business loans, loans against property, school financing, among others. For business financing, It offers SME/MSE loans, working capital loans, unsecured business loans, among others.

Clix Capital's market presence

With a workforce of over 1,000 people, Clix Capital claims to have a presence in more than 2,100 pin codes nationwide.

The firm also claims to have achieved a compound annual growth rate (CAGR) of over 30% in assets under management (AUM).

As of now, the firm's AUM stands at over Rs 6,000 crore, with gross non-performing assets (GNPA) of less than 2%. It also surpassed Rs 26,000 crore in total lifetime disbursements.

“India’s NBFC sector has demonstrated tremendous growth potential and has seen a significant re-rating in recent times. The MSME sector, being a critical contributor to employment generation and to India’s GDP growth, has been a strong focus area for Clix Capital. With a robust foundation, Clix Capital has come a long way in its journey of fulfilling the aspirations of unserved Indian MSMEs. Apollo’s commitment and confidence in our vision is evident in their continued support through this equity infusion,” said CM Vasudev, Chairman, Clix Capital.