Morgan Stanley, Creador back NBFC platform Kogta Financial with INR 300 cr investment

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Kogta Financial, a non-banking financial company (NBFC), has secured INR 300 crore as part of its series C round led by Creador and Morgan Stanley Private Equity.

“The company has demonstrated strong scale-up since the new team took over in 2008, while prudently managing risks, especially in the challenging used commercial vehicle space. With continued focus on secured retail lending, presence in high growth markets, robust IT system and collections mechanism, Kogta is uniquely positioned to thrive in the Indian financial services sector,” Anand Narayan, managing partner at Creador Advisors India, said.

Importantly, the investment in Kogta Financial is the latest by Creador in India’s broader financial services sector.

Kogta Financial operates 105 branches in eight states, spread across central and western India. While, IIFL Seed Ventures, was the first institutional investors of Kogta Financial.

The retail NBFC Kogta Financial, which focuses on financing used and commercial vehicles, cars and tractors, as well as loans to SMEs, claims to serve about 30,000 customers, and has a loan book of about INR 825 crore.

“While the NBFC environment has been a tough one for the last one year, Kogta has still managed to attract premium investors, which is a testament to the asset management bets that its team has undertaken,” Amit Mehta, principal at IIFL Asset Management, said.

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