Debt Financing
Home healthcare service provider Portea Medical to get $7.7 M loan guarantee from DFC
Bengaluru-based home healthcare service provider Portal Medical has secured a commitment from the US International Development Finance Corporation (DFC) for a USD 7.7 million local currency guarantee facility to assure repayment of an INR-denominated loan, to be issued by a local commercial bank in India. Portea Medical will use the DFC-guaranteed loan in expanding business through digitalisation, for broadening service offerings, increasing geographical coverage and developing delivery channels for home-based healthcare. The fund will also be used to mobilise capital investments in equipment and working capital. Founded in 2013, Portea also provides collection of lab samples and offers medical equipment for sale or on hire. As per the company, it manages over 1.2 lakh patients visits a month.
From the Venture Intelligence PE-VC Deal Database: Between Dec-13 and Nov-17 Portea Medical had raised close to INR 540 crores from CDC-MEMG, Accel USA, Qualcomm Ventures, Sabre Capital, Accel India, IFC and Ventureast (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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