Clix Capital raises INR 220 Cr equity from existing investors; aims to double down on growth in its focus sectors

· With this equity raise, Clix Capital expects to cross INR 10,000 Cr AUM in the next 18-24 months

· This infusion will focus on penetration into new geographies, propelling growth in key sectors of MSMEs, Education and Medical Facilities, and investments into advanced technology capabilities

New Delhi, August 1, 2024: Clix Capital, one of India’s fastest-growing and profitable new-age NBFCs, has reached another landmark in its fundraising journey, securing INR 220 Cr in fresh equity capital. This investment round was led by existing investors – Apollo Global Management, Pramod Bhasin and Anil Chawla.

This infusion by shareholders further reinforces their confidence in the management team and the enormous potential of the strategic MSME lending model that Clix has built over the years.

Clix Capital is one of the best capitalized NBFCs in its peer group, and this infusion gives it a long runway towards its ambitious growth targets. The company plans to utilize these funds to strengthen its lending capabilities across the MSME, Education, and Healthcare Equipment sectors, enhance its credit profile & significantly invest in new age AI & ML technologies.

Commenting on the equity infusion, Rakesh Kaul, CEO of Clix Capital, said, “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.”

“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,” said Utsav Baijal, Partner and Head of India Private Equity, Apollo Global Management.

“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,” said C.M. Vasudev, Chairman, Clix Capital”

Over the last few years, Clix Capital has achieved a strong AUM CAGR over 30%, having supported thousands of MSMEs in their growth ambitions and job creation efforts. The company’s current AUM stands over INR 6,000 Cr with GNPA of less than 2% and has surpassed INR 26,000 Cr in total lifetime disbursements. With a workforce of more than 1,000 employees and phygital presence, Clix Capital has expanded its operations in over 2,100 pin codes pan India.