MSME-focused non-banking financial company (NBFC) Clix Capital on Thursday said it has raised Rs 220 crore funding round led by its existing investors Apollo Global Management, Pramod Bhasin and Anil Chawla. The company said it would deploy the fresh capital to boost its lending capabilities across the MSME, education, and healthcare equipment sectors, improve its credit profile and invest in artificial intelligence and machine learning technologies.
With the latest round, the company expects to take its assets under management (AUM) beyond Rs 10,000 crore in the coming 18-24 months from current over Rs 6,000 crore.
Speaking on the equity infusion, Rakesh Kaul, CEO, Clix Capital, said, “This (fundraise) 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.”
Clix Capital said it has recorded a strong AUM CAGR of more than 30 per cent over the past few years, having backed “thousands of MSMEs”.
The company’s gross NPA stood at less than 2 per cent while total disbursements crossed Rs 26,000 crore.
“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,” said Utsav Baijal, Partner and Head of India Private Equity, Apollo Global Management.
Clix Capital had reported 125 per cent growth in its net profit to Rs 63 crore for FY24 from FY23 and disbursed more than Rs 4,475 crore in loans in FY24, up by 21 per cent from the previous financial year.
The company had also signed a $20 million loan from the Global Climate Partnership Fund (GCPF), a Luxembourg-based impact investor backing sustainable projects that help to mitigate climate change.