An investment-grade NBFC called Red Fort Capital has reached a significant milestone by raising Rs 22.6 crore in debt financing, surpassing Rs 100 crore in assets.
A sizable Public Sector Undertaking (PSU) bank contributed Rs 15 crore to the debt raise. Notably, the biggest PSU lender, State Bank of India, has already granted Red Fort Capital funding rounds in the past.
In addition, USHA Finance contributed Rs 3.5 crore and Foreign Portfolio Investors (FPI) contributed Rs 4.1 crore in non-convertible debentures (NCDs). This varied capital will play a key role in expediting Red Fort Capital’s objective of closing the credit gap for small and medium-sized businesses (SMEs) throughout India.
Red Fort Capital provides secured loans with flexible funding options ranging from Rs 1 crore to Rs 10 crore and a 7-day turnaround time that are specifically designed for businesses.
With this additional funding, Red Fort Capital, which already has a strong national footprint, hopes to improve the secured business loan options it offers to companies in the manufacturing, trading, and service sectors.
Red Fort Capital’s continued emphasis on innovation, technology, and risk management will put it in a strong position to draw in additional banking relationships, which are essential to its expansion going forward.
