PHF Leasing Limited, a Metropolitan Stock Exchange listed deposit-accepting NBFC, has announced on Tuesday, April 16, that they have raised $ 10 million capital via a mix of equity and debt — including around 60 per cent equity and 40 per cent debt. The company has stated that this money will be used to fund the aggressive growth that it is witnessing in the segments that it operates in. 

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PHF Leasing is a category “A” Deposit accepting Non-Banking Financial Company registered with Reserve Bank of India (RBI) since 1998. The company offers mortgage loans against immovable property (LAP) and financing E-vehicles primarily E-rickshaws, E-loaders and EV – 2 wheelers. 

The company informed that it has clocked over 100 per cent growth over the last 3 years, and it is strengthening existing offices, opening new offices and has set a strong target of increasing the headcount by over 50 per cent over the next few months. It stated that in order to take care of the aggressive numbers, a fund-raising round was necessary and it has successfully raised around Rs 85 crore through a mix of equity and debt. 

PHF Leasing informed that the debt has been raised from existing lenders as well as onboarding new lenders. And added that 82 individuals and companies participated in the equity raising round and the company onboarded three new lenders in March 2024 including Cholamandalam Investment and Finance Company Limited, SMC Moneywise and Vivriti Financial. 

Talking about this round of funding, Shalya Gupta, CEO, PHF Leasing Limited, said, “This round of funding by investors and corporates reflects their confidence in our system and process led growth. The $ 6 million equity infusion will help us maintain a healthy debt equity ratio as per industry norms. We will be utilizing the funds to reach newer geographies and maintaining an over 50 per cent YOY growth.” He further added that PHF leasing is focused on providing loans to the underserved sections of the society with an aim to make them self-reliant. 

PHF Leasing is currently working with lenders like SBI, AU Small Finance Bank, MAS Financial Services, Ambit Finvest, Incred Financial Services, Shriram Transport Finance, Unicom Fincorp and Growmoney Capital.