MSME-focused non-banking financial company (NBFC) Clix Capital has announced a successful fundraising round, securing Rs 220 crore from its existing investors, Apollo Global Management, Pramod Bhasin, and Anil Chawla. The infusion of capital aims to enhance Clix Capital’s lending capabilities across the MSME, education, and healthcare equipment sectors, improve its credit profile, and invest in artificial intelligence and machine learning technologies.
With this latest round of funding, Clix Capital anticipates increasing its assets under management (AUM) beyond Rs 10,000 crore within the next 18-24 months, up from the current figure of over Rs 6,000 crore.
Rakesh Kaul, CEO of Clix Capital, expressed his optimism about the fundraise, stating, “This (fundraise) 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.”
Clix Capital has demonstrated a robust AUM compound annual growth rate (CAGR) of more than 30% over recent years, supporting thousands of MSMEs. The company boasts a gross non-performing asset (NPA) ratio of less than 2% and total disbursements exceeding Rs 26,000 crore.
Utsav Baijal, Partner and Head of India Private Equity at Apollo Global Management, commented on the investment, 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.”
In FY24, Clix Capital reported a 125% growth in net profit to Rs 63 crore, compared to the previous financial year, and disbursed over Rs 4,475 crore in loans, marking a 21% increase from FY23.
Additionally, the company secured a $20 million loan from the Global Climate Partnership Fund (GCPF), a Luxembourg-based impact investor focused on sustainable projects that mitigate climate change.
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