Digital lending platform Capital Float scales new heights, records 400% growth

BENGALURU: India’s digital lending platform Capital Float has revealed that the company has witnessed a significant rise in performance in Delhi NCR for the year 2016. Over 1000 small and medium-sized businesses availed the online credit products offered by the company. This attributed to the company’s growth and development for the company in this region.

Capital Float says that it delivered 400% growth both in terms of value of loans disbursed and the number of customers. Strategic partnerships with companies like Snapdeal, Shopclues, PayTM, OfBusiness and Industrybuying, among others, have also aided Capital Float to make the most of the opportunity in this fast-growing market.

The total loan disbursals of the company’s products in the market rose steeply with Pay Later and Unsecured Business Loan being the top performing products with 140% and 300% growth respectively over 2015.

Additionally, the Online Seller Finance contributed over 30% in volume. Newly-introduced products like Merchant Cash Advance and Vehicle Finance are poised for similar growth numbers given the rising market interest in these products. To better serve this growing market, Capital Float has opened a new office in Karol Bagh, New Delhi to accommodate a larger team with all the latest infrastructure.

The SME lending market in India is worth almost $300 billion today and the digital finance segment constitutes 10% of it. The northern region makes up about 35-38% of the total addressable market which is worth about $10 billion. The CAGR is expected to remain 17-20% for the next 5 years and post-demonetization, it might even surpass 20%.