New Delhi-based NBFC Clix Capital has successfully raised Rs 220 crore in fresh equity capital, with contributions from existing investors such as Apollo Global Management, Pramod Bhasin, and Anil Chawla. This capital injection is aimed at enhancing the company’s lending capabilities in the MSME, Education, and Healthcare Equipment sectors.
In addition to expanding its lending portfolio, Clix Capital intends to use the funds to improve its credit profile and invest heavily in advanced technologies like artificial intelligence (AI) and machine learning (ML). CEO Rakesh Kaul expressed his satisfaction with the investment, stating, “Delighted to see the confidence that the shareholders have reposed in us through this infusion. This 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.”
Investor Utsav Baijal, Partner and Head of India Private Equity at Apollo Global Management, commented on the significant value created through their investment in Clix Capital, saying, “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.”
Clix Capital was established in 2016 by Pramod Bhasin and Anil Chawla through the acquisition of GE Capital’s lending and leasing business. The firm offers a variety of financial products including business loans, loans against property, and school financing. Specifically, it provides SME/MSE loans, working capital loans, and unsecured business loans.
With a workforce exceeding 1,000 employees, Clix Capital has a presence in over 2,100 pin codes across India. The company boasts a compound annual growth rate (CAGR) of over 30% in assets under management (AUM), which currently stands at over Rs 6,000 crore with gross non-performing assets (GNPA) of less than 2%. Additionally, Clix Capital has achieved total lifetime disbursements exceeding Rs 26,000 crore.
Chairman CM Vasudev highlighted the significant growth potential of India’s NBFC sector and Clix Capital’s focus on the MSME sector, stating, “India’s NBFC sector has demonstrated tremendous growth potential and has seen a significant re-rating in recent times. The MSME sector, being a critical contributor to employment generation and to India’s GDP growth, has been a strong focus area for Clix Capital. With a robust foundation, Clix Capital has come a long way in its journey of fulfilling the aspirations of unserved Indian MSMEs. Apollo’s commitment and confidence in our vision is evident in their continued support through this equity infusion.”
