India: Non-bank lender Ess Kay Fincorp raises $46m from TPG Growth, Norwest, others
Photo: Ayaneshu Bhardwaj / Unsplash.com
May 13, 2021
Non-bank financier Ess Kay Fincorp Ltd on Thursday said it has raised ₹337 crore ($46 million) from a clutch of investors.
Existing investors TPG Growth, Norwest Venture Partners and Evolvence, along with promoter Rajendra Setia, invested as part of this round, it said.
With this investment, the company said it has raised over ₹1,000 crore ($136 million) of external capital from marquee investors.
The transaction reiterates the investors’ conviction in Ess Kay’s superior execution capabilities, consistent performance and unique positioning in the significantly underpenetrated used vehicle, and small and medium enterprise (SME) finance space, the lender said in a statement. Spark Capital acted as an exclusive financial adviser to the company in relation to the transaction.