Kogta Financial raises Rs 846 crore from Multiples, Canadina Pension Board, others

Rajasthan-based Kogta Financial, an NBFC focused on vehicle and MSME lending, on Friday said it has raised Rs 846 crore in a funding round led by Multiples Private Equity and Canada Pension Plan Investment Board.

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Kogta's existing investors Morgan Stanley Private Equity Asia and Creador IV also participated in the latest funding round.

The Non-Banking Finance Company's (NBFC) first investor IIFL Seed Venture Fund, which had invested in October 2016, has exited, according to a statement.

The fresh funds will be used as primary capital to support Kogta's continued growth across products and regions.

Starting from Rajasthan's Jaipur in 1996, Kogta has now expanded across eight states serving over 2,00,000 customers through a network of 175 branches.

The company has Assets Under Management (AUM) of over Rs 2,000 crore across commercial vehicles, passenger vehicles, tractors and MSME loans.

Arun Kogta, MD and CEO of Kogta, said experiences of Multiples and CPP Investments will help the company navigate the next phase of growth, deepening its reach across geographies and product segments. It hopes to touch Rs 5,000 crore of AUM in the next two years, he added.