PE Fund Investments
NBFC SK Finance raises Rs.1,328-Cr
Jaipur-headquartered non-banking financial company SK Finance Ltd has completed an equity round of INR 1,328 crore from from Duro Capital, Axis Alternatives, Ananta Capital, Mirae Asset and Motilal Oswal Private Equity (MO Alts) along with existing investors, including Norwest Venture Partners, TPG Growth, and Baring Private Equity India. .Founded by Rajendra Kumar Setia in 1994, SK Finance provides used and new commercial vehicle loans, car loans, tractor loans, two-wheeler loans, and secured business loans. The lender caters to underbanked low-mid-income, self-employed individuals. It had a network of around 500 branches and over 9,600 employees across 12 states and union territories as of September 2023.The firm raised USD 53 million in its Series F funding round from IIFL Wealth and various new investors in December 2021. Earlier, in May that year, it raised about USD 45.8 million, with contributions from TPG Growth, Norwest Venture Partners, and Evolvence.
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