Private Equity

Angel Investments

AP Factors raises pre-seed round

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Mumbai-based Artfine's factoring arm, Arth Padarth Factors and Finance Private Limited (AP Factors), has raised a pre-seed round. The investors include the Family office of Manish Choksi and Jaspal Bindra (Chairman, Centrum Group), Ketan Gaikwad (MD & CEO, RXIL), Nitin Gupta (Founder, Unicards) and Vivek Vishwas Patel (Co-Founder, Go Payments). AP Factors will use the funds to strengthen its technology stack, expand its team and operations across the country. It is the seventh factoring NBFC in India that is trying to bridge the cash crunch gap for the small and medium enterprises and micro, small and medium enterprises. AP Factors expects to cross the Rs 100-crore-mark in assets under management next year.