Red Fort Capital is a financial services offering non-banking finance company that secured Rs 22.6 crore in the debt funding round. The funding round saw the participation of other investors including USHA Finance. The startup crossed the assets under management of Rs 100 crore. The company plans to use these debt funds to scale its operations, grow its business, expand its lender network, and enhance its borrowing capabilities.
The funding round includes Rs 15 crore investment from a major public sector Undertaking bank. The company raised Rs 4.1 crore from Foreign Portfolio Investors through Non-convertible debentures and Rs 3.5 crore from USHA Finance. Entrackr reported the development first. Red Fort Capital also received investment from the State Bank of India.
The company aims to remove the credit gap between small and medium enterprises in India. Red Fort Capital is a non-banking finance company that provides personalized loaning options and solutions in real estate, emerging markets, and private equity. The startup loaning option for businesses with flexible funding options from Rs 1 crore to Rs 10 crore with a turnaround time of seven days.
The data intelligence platform, crunchbase mentioned that the company has raised over Rs 115 million across two funding rounds since its inception, including the Rs 11.5 crore debt funding round from Usha Financial and IFK Finance. The startup provides its services across various sectors and it aims to expand it across trading, manufacturing, and service sectors using this new fund.
The firm has expanded its services to new and emerging sectors such as quick commerce. The Indian startup ecosystem is experiencing growth in new businesses and technical advancements. Red Fort Capital offers loans to startups and helps them scale their business while solidifying their position in the market.
The Delhi-based startup plans to attract more banking partnerships for future growth by focusing on technology, risk management, and innovation. The data intelligence platform, tracxn mentioned that the company had an annual revenue rate of $494k as of March 2022. The company offers real estate funds focused on opportunistic strategies.
The platform uses advanced technologies to offer a seamless digital experience with efficient financial solutions along with a user-friendly interface. The investment shows investor’s interest in Red Fort Capital’s market potential and business model. Red Fort Capital faces competition from other business loaning companies including Lendingkart, Funding societies, and NeoGrowth.
Conclusion :
Red Fort Capital is a business loan services offering non-banking finance company that secured Rs 22. Crore in its debt funding round from a major public sector undertaking bank. The company crossed Rs 100 crore in assets under management. The company received an investment of Rs 3.5 Crore from USHA finance and Rs 4.1 Crore was raised through NCDs.
The startup plans to use these fresh proceeds to enhance its platform, expand its lender network, and improve its performing capabilities. The company offers an online platform offering business loans across various sectors. The startup plans to use some of this investment to expand its services across trading, service, and manufacturing sectors.
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