Capital Float raises $13 million for expansion

Online lending platform Capital Float has raised $13 million (Rs 80 crore) in Series A round of funding co-led by SAIF Partners and Sequoia Capital. Existing investor Aspada Advisors also participated in this round. "We’ve seen a lot demand in the e-commerce segment. The big push is to scale up nationally as we are seeing demand coming from tier-1, 2, and 3 cities. Also, the focus is to launch a new set of products to cater to a wider group of SMEs beyond e-commerce mainly traditional SMEs in services and manufacturing," said Sashank Rishyasringa, co-founder, Capital Float.

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