Avendus Capital Advises Capital Float on Its USD 50 mn Fund Raise Led by Lightrock

We are now financing 2 million purchases every month across 14,000 pin codes, while maintaining NPAs below 1.5%. This positions us as the market leader in BNPL in India today

More importantly, we see an exponential growth opportunity ahead from this point on. By solving for affordability as well as convenience, in a fully-regulated format, we believe that our BNPL approach can responsibly expand access to credit to over 100 million customers who are starting to transact online. We are privileged to have the support of our investors in pursuing this vision and are excited to work in partnership to build a world-class digital financial institution for India.

Capital Float has solved the unique triumvirate of customer experience, risk management, and merchant partnerships that lies at the heart of unlocking the BNPL opportunity in India. In addition to its strong technology platform, it has built a sophisticated underwriting and
collections capability, along with an ethical lending playbook, that makes the model very compelling. We have also been consistently impressed with the tenacity and execution focus of the team through a full credit cycle. We are excited to work with them to build a highly scalable, differentiated, and sustainable business that will positively impact the lives of millions of customers in India through digital credit and financial products.

Credit card underpenetration and the online commerce opportunity in India provides a massive potential for the Buy Now Pay Later (BNPL) model to expand. Capital Float has built India’s only truly native BNPL platform with a unique asset-light financing model, supported by sophisticated risk management. They’ve delivered best-in-class customer adoption and experience on the back of strong execution, a superior product and leading merchant partnerships. We are extremely proud to partner with them in their vision to democratize access to credit.