SUMMARY
Clix Capital will utilise the fresh capital for its working capital needs to grow its business
The fundraise comes almost a year after the NBFC raised INR 1,200 Cr debt funding from domestic and global investors
Clix Capital reported a standalone profit of INR 24.4 Cr in FY23 as against a loss of INR 93.3 Cr in FY22
Delhi NCR-based Clix Capital has secured a debt funding of $6 Mn from DCB bank. As per the regulatory filing of the non-banking financial company, it is allotting around 1,00,000 non-convertible debentures (NCDs) to the bank with a tenure of 36 months.
Clix Capital will utilise the fresh capital for its working capital needs to grow its business.
The fundraise comes almost a year after Clix Capital raised INR 1,200 Cr debt funding from domestic and global investors. Of this, it secured around $20 Mn from the Global Climate Partnership Fund for onward lending for sustainable projects.
Founded in 2016 by Pramod Bhasin and Anil Chawla, Clix Capital offers business loans, loans against property, school financing, among others. For business financing, the NBFC offers SME/MSE loans, working capital loans, unsecured business loans, among others.
Earlier this year, Karnataka Bank Ltd (KBL) and Clix Capital entered a partnership to provide loans to the MSME sector via digital platform Yubi Co (formerly known as CredAvenue).
Of late, a number of digital lenders have raised debt funding. Earlier this month, Delhi NCR-based AVIOM Housing Finance secured $10 Mn in debt funding from BlueOrchard Microfinance Fund.
Another digital lender axio raised $6 Mn venture debt from Alteria Capital in April. Earlier this year, agriculture financing startup Sammunati also raised $9 Mn in debt funding from Singapore-based Impact Investment Exchange (IIX).
Talking about financials, Clix Capital’s standalone revenue stood at INR 679 Cr in the financial year 2022-23 (FY23). Its revenue from operations stood at INR 637.5 Cr in FY22. The NBFC posted a profit of INR 24.4 Cr in FY23 as against a loss of INR 93.3 Cr in FY22.
To date, Clix Capital has secured $180 Mn in funding and counts AION Capital Partners, and Global Climate Partnership Fund among its backers.
