TLDR:
– SK Finance, an Indian non-banking financial company (NBFC), has raised INR 1,328 crore (approximately $186 million) in a fresh round of funding led by Norwest Venture Partners, TPG, MO Alts, and Baring Private Equity.
– The company, which is planning to go public, aims to raise $250-300 million through its upcoming IPO.
Summary:
SK Finance, an Indian NBFC, has secured INR 1,328 crore (approximately $186 million) in a recent funding round led by venture capital firms Norwest Venture Partners, TPG, MO Alts, and Baring Private Equity. This funding comes as the company prepares for an initial public offering (IPO) and aims to raise $250-300 million through the IPO. SK Finance offers a diversified product portfolio, including loans for cars, commercial vehicles, tractors, and two-wheelers, as well as secured business loans. The company’s fundraising efforts highlight the strong investor interest in the Indian financial services sector, particularly in digital lending platforms. SK Finance’s successful funding round positions the company for future growth and expansion, as it aims to capitalize on the growing demand for accessible financial services in India.
