Credifin Secures Major Investment Boost to Enhance Growth Momentum

Credifin, a financial company based in Jalandhar, secured $24.9 million through equity and debt, aimed at fueling its rapid expansion in MSME mortgage loans and E-vehicle financing. Major lenders, including Northern Arc Capital and ICICI Bank, are among those investing. The company now operates digitally for over 80% of its collections.

Credifin, a Jalandhar-based non-banking financial company, announced on Thursday that it has successfully raised $24.9 million (Rs 213.6 crore) through a blend of equity and debt financing.

The fundraising breakdown reveals approximately 6.7% equity with the remainder being debt. This capital injection is intended to support Credifin's aggressive growth trajectory, particularly in its operation segments like secured MSME mortgage loans and E-vehicle financing, as stated by the company.

A number of institutions such as Northern Arc Capital, ESAF Small Finance Bank, and ICICI Bank, have come onboard as new lenders. Credifin, with a presence in over 200 locations across 13 states and employing more than 700 people, currently conducts over 80% of its collection processes digitally.

(With inputs from agencies.)