Morgan Stanley, IIFL Seed Ventures invest ₹154 crore in Kogta Financial

Must Read

Sanju Samson to replace Shikhar Dhawan in T20 series against WI

Sanju Samson will replace injured Indian opener Shikhar Dhawan in the T20s series against West Indies starting from next...

Supreme Court lashes out on Centre & Delhi govts for Rising Pollution

The Apex Court of the Country, the Supreme Court on Monday lashed the Central and State Government for their...

Harbhajan Singh wishes BCCI Prez Sourav Ganguly to change Selection Panel

The Indian off-spinner Harbhajan Singh on Monday urged Sourav Ganguly, President of BCCI (The Board of Control for Cricket...

Retail-focused non-banking financial company (NBFC) Kogta Financial has raised ₹154 crore in a funding round from Morgan Stanley Private Equity Asia and existing investor IIFL Seed Ventures.

The fund managed by Morgan Stanley Private Equity Asia invested around ₹114 crore for a minority stake, while IIFL Seed Ventures, Kogta’s first institutional investor, invested ₹40 crore.

Equirus Capital acted as the financial advisor for the transaction.

The funds raised will be used to expand operations and foray into new geographies.

Founded in 1996, Kogta Financial offers financing to customers, providing commercial vehicle loan, car loan, tractor loan, two wheeler loan, MSME loan, and loan against property.

Talking about the investment, Varun Kogta, Chief Financial Officer, said, “With this investment from Morgan Stanley and IIFL Seed Ventures Fund, the company’s net worth will increase to more than thrice the current value, thereby considerably strengthening our balance sheet, which will help further enhance conviction of credit rating agen cies and lenders.”

The NBFC has a network of over 65 branches, serving more than 50,000 customers, across six states in India, including Rajasthan, Madhya Pradesh, Gujarat, Maharashtra, Uttar Pradesh, and Delhi.

Previously in October 2016, Kogta Financial raised series A funding led by IIFL Seed Fund.

Other NBFC’s catering to the financial needs Indians include Capital First, Vistaar Finance, Veritas Finance, Ess Kay Fincorp, among many others.

Earlier this month, Veritas Finance raised ₹200 crore in a series D round led by Norwest Venture Partners and Ess Kay Fincorp raised ₹310 crore in a round led by TPG Growth.


Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

Disney to make a spin-off of ‘Aladdin’ character Prince Anders

The Walt Disney Studio is developing a spin-off from one of its live-action remakes, marking it for the first...

President Kovind: Judicial process beyond reach of poor

President Ram Nath Kovind on Saturday, showing his concern over certain section of people's access to justice, said that the judicial process has gone...

Facebook is testing screen sharing over video call in Facebook Messenger

Screen Recording can be really life-saving when there is a video that can not be shared. You just have to start the screen recording...

Rajkummar Rao and Nushrat Bharucha starrer ‘Turram Khan’ renamed as ‘Chhalaang’

Turram Khan, the upcoming film of actor Rajkummar Rao, has been renamed as Chhalaang. The film stars actor Nushrat Bharucha as the female lead...

WhatsApp adds Call waiting feature for Android in the its latest update

WhatsApp is regularly receiving updates, the company is always working on new features. In the most recent update, the Facebook-owned instant messaging platform got...
- Advertisement -

More Articles Like This