India-based SME lender Capital Float has added a bit of funding to its books thanks to a $2.3 million raise announced Monday (April 10).
The company said the funds were provided by Mahindra and Mahindra Financial Services and raised against non-convertible debentures (NCD). According to Capital Float cofounder Sashank Rishyasringa, the deal brings the total raised for Capital Float in 2016–2017 to $9.2 million through this route.