Non-bank lender Clix raises Rs 220 cr from Apollo, others

Non-bank lender Clix Capital on Thursday announced a Rs 220 crore fundraise in a round led by Apollo Global Management, Pramod Bhasin, and Anil Chawla.

The non-banking finance company plans to strengthen lending capabilities across the MSME, healthcare equipment and education through the infusion, as per an official statement.

The funding will also be deployed for technology development, including investments in artificial intelligence and machine learning tools, and also help improve the credit profile, it said.

Its Chief Executive Rakesh Kaul said the funding comes at an opportune time, and will energise the teams in fulfilling the objective of helping underserved small businesses across the country access credit.

Apollo's head of India private equity Utsav Baijal said the fund had invested in the company before as well and has seen significant value creation on the bet.

"We see ample headroom for growth in Clix Capital's journey as it expands its footprint in India's growing MSME sector," he added.

The company has surpassed Rs 26,000 crore in total lifetime disbursements, and the current assets under management stands at over Rs 6,000 crore, while the gross non-performing assets are less than 2 per cent, it said.

It has over 1,000 employees and serves 2,100 pincodes in the country.