Clix Capital has secured Rs 220 crore in funding, led by existing investors Apollo Global Management, Pramod Bhasin and Anil Chawla. The company plans to use this capital to enhance its lending capabilities in the MSME, education and healthcare equipment sectors, improve its credit profile, and invest in AI and Machine Learning (ML) technologies. With this funding round, Clix Capital aims to increase its Assets Under Management (AUM) to over Rs 10,000 crore within the next 18-24 months, up from the current Rs 6,000 crore.
Rakesh Kaul, CEO, Clix Capital, commented, “This (fundraise) will further energise 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.”
The company’s gross NPA is under two per cent, and total disbursements have surpassed Rs 26,000 crore.
Utsav Baijal, Partner and Head of India Private Equity, Apollo Global Management, stated that their investment in Clix Capital has generated significant value, and they are pleased to participate in this equity round. He sees considerable growth potential as Clix Capital expands in India’s MSME sector.
For FY24, Clix Capital reported a 125 per cent increase in net profit to Rs 63 crore and disbursed over Rs 4,475 crore in loans, marking a 21 per cent increase from the previous year. Additionally, the company secured a $20 million loan from the Global Climate Partnership Fund (GCPF), supporting sustainable projects aimed at mitigating climate change.