Monday, January 9, 2017
400% Digital Lending Platform Growth in Delhi & NCR for Capital Float
Capital Float, the largest digital lending platform in India, witnessed a meteoric rise in performance in Delhi NCR in 2016. Over 1000 small and medium-sized businesses availed the online credit products, making this a year of great growth and development for the company in this region. The company delivered 400% growth both in terms of value of loans disbursed and the number of customers. Strategic partnerships with companies like Snapdeal, Shopclues, PayTM, OfBusiness and Industrybuying, among others, have also aided Capital Float to make the most of the opportunity in this fast growing market.
The total loan disbursals of the company’s products in the market rose steeply with Pay Later and Unsecured Business Loan being the top performing products with 140% and 300% growth respectively over 2015. Additionally, the Online Seller Finance contributed over 30% in volume. Newly-introduced products like Merchant Cash Advance and Vehicle Finance are poised for similar growth numbers given the rising market interest in these products. To better serve this growing market, Capital Float has opened a new office in Karol Bagh, New Delhi to accommodate a larger team with all the latest infrastructure.
The SME lending market in India is worth almost $300 billion today and the digital finance segment constitutes 10% of it. The northern region makes up about 35-38% of the total addressable market which is worth about $10 billion. The CAGR is expected to remain 17-20% for the next 5 years and post-demonetization, it might even surpass 20%.
“Our disbursal volumes and values have skyrocketed in Delhi NCR in 2016. In the coming year, we are expecting a 500% rise in disbursals for all our products, while increasing our customer base by 600%” said Gaurav Hinduja, Co-Founder and Managing Director, Capital Float. “Since our reach in this market has grown exponentially, we have opened a new office with a strong team to better serve customers. We hope to build on this momentum in the coming year, not just in this market but across India,” he added.