Buy-now-pay-later lending firm Capital Float raises $50 million in equity

CHENNAI: Ahead of the festive season which drives the demand for buy-now-pay-later credit, BNPL startup

Capital Float

has raised $50 million in equity funding led by Lightrock India to strengthen and expand its partner ecosystem.

“More importantly, we see an exponential growth opportunity ahead from this point on,” said co-founders Sashank Rishyasringa and

Gaurav Hinduja

.

The NBFC finances two million purchases every month across 14,000 pin codes, while maintaining NPAs below 1.5%. It has also witnessed rapid growth over the past year, with 2.5 million customers now using its product to finance over Rs 2,000 crore of online purchases annually.

Its existing investors include

Sequoia Capital India

, Ribbit Capital, Creation Investments and Dinesh Hinduja family office also participated in this round, besides its new investors David Vélez, Founder of Nubank, Kunal Shah, Founder of Cred, and Amrish Rau, CEO of Pine Labs.

Capital Float has partnered with leading platforms such as Amazon (powering Amazon Paylater), MakeMyTrip, Unacademy, and BoAt to help consumers finance purchases across e-commerce, D2C brands, travel, edtech and healthcare. It also recently launched a strategic partnership with

Razorpay

to expand BNPL to over one lakh merchants across the country.


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