Capital Float, an Indian provider of working capital finance and business loans to SMEs, raised $45m in Series C funding.
The round was led by Ribbit Capital with participation from Saif Partners, Sequoia India and Creation Investments.
The company will use the funds to continue to expand operations.
Co-founded by Sashank Rishyasringa and Gaurav Hinduja, Capital Float is a digital finance company serving businesses in India, providing them with working capital finance to grow their customer base, purchase inventory, or manage cash flows. Borrowers can apply online and receive funds within 3 days.
Based in Bangalore, Karnataka, the company has over 360 employees.