Capital Float, an online lending platform has raised $22 million (Rs 144 crore) from e-commerce giant Amazon in the latest round of funding. The investment is an extension of Capital Float's Series C round of funding, in which it had raised $45 million (Rs 293 crores) in August last year from Ribbit Capital, with participation from existing investors - SAIF Partners, Sequoia India, and Creation Investments. In a statement, the Bangalore-based company said that the latest investment takes Capital Float’s total equity funding to nearly $110 million. In addition, the company has also raised debt amounting to $130 million till-date (Rs 840 crores) from leading banks and NBFCs. Lending companies raise debts to replenish their loan books. Capital Float will use the fresh capital to strengthen its technology and add more credit products in the future. The company aims to add 300,000 customers and originate over Rs 5,000 crores ($800 million) in loans this year. In the past 6 months, it has crossed Rs 1,200 crores ($185 million) in overall loan portfolio outstanding, and have added 50,000 new customers across the country. The digital lending company offers working capital loans from Rs 3 lakh to Rs 1 crore to small businesses, through its technology-led loan origination and credit underwriting platform. It works with e-commerce merchants, early-stage B2B service providers and small manufacturers to provide three kinds of loans; loans against invoice, loans against purchase order and unsecured business loan. Previous Funding Before its Series C in August last year, the company had raised $13 million…
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