Credit and Finance for MSMEs: Non-banking financial company (NBFC) Clix Capital announced turning profitable in the last 18 months on the back of three key verticals – MSMEs, healthcare and school financing. In the current financial year, it is targeting to clock revenue worth Rs 100 crore.
Backed by private equity fund AION Capital Partners, the Gurugram-based NBFC changed its course during the disruptions caused by the pandemic and digitalised its operations for scale. Anil Chawla, Founder, Clix Capital said, “The company has carved its niche in focused business segments in line with India’s growth trajectory in the MSME, healthcare and education space.” The lending products for MSME and consumer segment include MSME loans, personal loans, healthcare loans, and school financing.
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The increase in profits are on the back of its assets under management. Clix Capital is aiming to cross an AUM of Rs 5,000 crore by the end of this fiscal and aims to surpass Rs 9,000 crore by FY 2024-2025.
Till date, it has loaned more than Rs 18,000 crore to retail consumers and MSMEs.
Cix Capital claims that its GNPA stood at less than three percent in October this year and is working to take it further to two per cent by this financial year.
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On future plans, Rakesh Kaul, CEO, Clix Capital said, “While we will continue investing in digitalization with an emphasis on agility and automation, moving ahead we would also be focusing on developing a strong co-lending ecosystem to supplement the debt raise needed to fund our growth ambitions.”