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How Would Poonawalla Finance & Capital Float's Merger Assist MSMEs?
Digital NFBC, Poonawalla Finance collaborates with Capital Float, a SMEs finance provider, to provide working capital financing to Micro, Small & Medium Enterprises (MSMEs) all over India. Both the companies would co-lend through Capital Float's co-origination model to offer last-mile credit to MSMEs throughout India. Now, the MSMEs could apply for loans via online and receive in-principle approval with four hours which is the quickest turnaround time in the industry.
“We are very excited about our partnership with Capital Float. They paved the way for digital lending in India and have demonstrated maturity and resilience over the years. Capital Float is led by strong and professional promoters with significant experience, a key determinant of their success. Poonawalla Finance believes in relationship-driven partnerships being integral to jointly achieving mutual objectives and growth in a tightly contested market. Through our collaboration with Capital Float, we will expand our reach beyond the metropolitan cities to tier II - III towns of India,” says Abhay Bhutada, Managing Director & CEO, Poonawalla Finance.
Both the NBFCs would initiate by co-originating on MSME loans, but, the services may expand the engagement to consumer financing as well. Capital Float and Poonawalla Finance are targeting to disburse more than 
500 crores within the next 12 months, with a monthly run rate of 50 crores. This association unlocks massive scale in small loans for MSMEs by combining tech-based lending and financial wherewithal.
“Capital Float is the pioneer of digital lending in India with proven capabilities and experience in MSME financing. We recently crossed $1 bn in lifetime disbursals and are heavily motivated to foster the growth of small businesses at a grassroots level. In this regard, we are delighted to partner with Poonawalla Finance and add impetus to our lending initiative for MSMEs. We are deeply impressed by Poonawalla Finance’s speed in business execution and the significant focus on technology to innovatively solve problems. The agility of the companies involved helped take the partnership live in record time,” states Sashank Rishyasringa, Co-Founder, Capital Float.
Capital Float is an online platform offering working capital finance to SMEs in India. It was established in 2013, and the company leverages technology and big data analytics to provide innovative credit products to businesses and individuals across the country
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