Clix Capital Announces $40 Million Fresh Capital Infusion From Existing Investors - GADGETS INNOVATIONS


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Tuesday, October 1, 2019

Clix Capital Announces $40 Million Fresh Capital Infusion From Existing Investors

·Funds to act as a corpus for strategic objectives while boosting the capital base and expanding overall business activities

·Clix has grown its retail business at a robust rate, which will account for ~70% of the AUM (assets under management) by March 2020 vs ~25% in March 2018

Clix Capital Services Pvt Ltd (‘Clix’) – one of India’s leading digital-lending NBFCs – today announced its latest round of capital infusion of $40 million (INR280 crores) from its existing investors AION Capital Partners Ltd as well as its promoters Pramod Bhasin and Anil Chawla.

Strong focus on technology and strategic partnerships has helped Clix scale up and expand its footprint to 4 million customers in a short span of 3 years. The company is targeting a loan book of Rs 5,500-6,000 crore by the end of FY20 as compared to Rs 5,000 crore currently.

Augmenting the Company’s original capital base of $250 million (INR 1,800 crores), the latest round of funding will be used to expand the business across its varied segments especially consumer finance and digital platforms. Clix has a presence across 12 cities in India and envisages deeper penetration in these markets.

With the fresh equity infusion, Clix is planning to continue its steady credit quality-led growth, focussing on the retail-lending segment to achieve a ~70% composition by March 2020. The company believes the current liquidity squeeze in the lending space is also likely to present additional opportunities for selective acquisitions.

New Delhi, 30 September 2019

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