PE Fund Investments
Multiple PE leads $111-M investment in lender Kogta Financial; IIFL VC exits
Jaipur-based NBFC, Kogta Financial (India) Ltd, has raised USD 111 million ( INR 846 crore) as a part of its Series D funding led by Multiples PE. CPPIB also co-invested in the round as a new investor. Existing backers Morgan Stanley Private Equity Asia and Creador also participated in the fundraise. The transaction paved a secondary exit for IIFL Seed Venture Fund, which was Kogta's first institutional investor in Series A round of financing. The primary infusion will be primarily used by the firm for products and geographical expansion. Kogta, which was launched in 1996, focuses on the vehicle finance market specialising in used vehicle financing and MSME loans.
From the Venture Intelligence PE-VC Deal Database: Between Oct-16 and Oct-19, Kogta Financial had raised over USD 85 M from Creador, Morgan Stanley and IIFL VC. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
Want to receive such news items in your inbox? Click Here to sign up for a trial.
