Clix Capital has picked up USD 40 million in a financing round led by its major stakeholder AION Capital.
The proceeds will be used to foray into consumer lending space and leverage its digital platform.
“The markets are volatile, but we are comfortably placed. We are blessed that our overall non-performing assets are low, and the opportunities that we see, even in this market environment, are good,” cofounder Pramod Bhasin told Economic Times.
Headquartered in Gurugram, Clix Capital was launched with the acquisition of commercial lending and leasing business of GE Capital in India with the backing of AION capital partners. Clix Capital has three major segments for business - consumer loans, SME(Small and Medium Enterprise) lending and commercial/corporate lending.
AION Capital has 85% stake in Clix Capital. The fund, focused on India, has around USD 825 million under asset management.
“Apart from infusion of capital, as majority partner, we are committed to bring in our global best experiences and expertise of technology and practices to Clix’s business. Our attempt would be to grow the Clix business steadily while maintaining a watchful eye on asset quality and profitability,” Parth Gandhi, MD at AION Capital, told Economic Times.
Earlier, Clix Capital has acquired the loan book of Paytm Postpaid. The company claims to have catered to 3 million customers at less than 1% NPAs.
“Although there is a lot of volatility in the market, there is also a scarcity of lenders, and we are still seeing, on the consumer side, enough opportunities for financial inclusion. In the SME segment, there are whole varieties of products—lending to schools, small businesses and healthcare,” Bhasin said.