Clix Capital raises Rs. 220 crores, plans to expand lending capacity

Clix Capital, a prominent NBFC based in New Delhi, has raised ₹220 crore in fresh equity capital from its existing investors, including Apollo Global Management, Pramod Bhasin, and Anil Chawla. This significant investment is set to expand Clix Capital’s lending capabilities, particularly in the MSME, education, and healthcare equipment sectors.

The funding will also facilitate Clix Capital’s efforts to enhance its credit profile and integrate advanced technologies like artificial intelligence (AI) and machine learning (ML) into its operations.

Rakesh Kaul, CEO of Clix Capital, highlighted the importance of the investment: “This infusion of capital demonstrates our shareholders’ trust and will invigorate our mission to support underserved MSMEs across India. The timing aligns perfectly with the government’s emphasis on the MSME sector and its vision for a developed India.”

Investor Confidence and Growth Potential

Utsav Baijal, Partner and Head of India Private Equity at Apollo Global Management, emphasized the successful partnership with Clix Capital, stating, “Our investment in Clix Capital has generated significant value, and we are pleased to participate in this equity round. We foresee substantial growth opportunities as Clix Capital expands within India’s burgeoning MSME sector.”

Clix Capital’s Offerings and Market Position

Founded in 2016 by Pramod Bhasin and Anil Chawla through the acquisition of GE Capital’s lending and leasing business, Clix Capital offers diverse financial products, including business loans, loans against property, and school financing. The company provides various business financing options, such as SME/MSE loans, working capital loans, and unsecured business loans.

Robust Market Presence and Performance

With over 1,000 employees, Clix Capital operates in more than 2,100 pin codes nationwide. The company reports a compound annual growth rate (CAGR) of over 30% in assets under management (AUM), which currently exceeds ₹6,000 crore. Additionally, Clix Capital maintains gross non-performing assets (GNPA) of less than 2% and has achieved total lifetime disbursements surpassing ₹26,000 crore.

CM Vasudev, Chairman of Clix Capital, praised the NBFC sector’s potential, noting, “India’s NBFC sector has shown remarkable growth potential. The MSME sector is crucial for employment generation and GDP growth. Clix Capital has made significant strides in meeting the needs of unserved MSMEs in India, and Apollo’s continued support reaffirms their confidence in our vision.”