[Funding alert] Kogta Financial raises Rs 300 Cr from Creador, IIFL Asset Management
Kogta Financial, a retail non-banking financial company (NBFC), on Wednesday, announced that it has raised Rs 300 crore ($42.25 million) in its Series C fund raise, led by Creador IV LP along with Morgan Stanley Private Equity.
Arun Kogta, MD and CEO of Kogta, said,“We have built the company with the right mix of product, profile, and geography diversification along with a focus on better asset quality and IT systems. The experienced team at Creador will help us further strengthen our systems and processes as we progress towards becoming a world class institution.
Founded in 1996, Kogta offers financing for used and new commercial vehicles, cars and tractors, along with loans to MSME segment. The Jaipur-based NBFC operates 105 branches across eight states in central and west India, serving over 30,000 active customers.
It operates across Rajasthan, Gujarat, Maharashtra, Madhya Pradesh, Delhi, Punjab, Haryana, and Uttar Pradesh. As of September 30, 2019, the company had a loan book of about Rs 825 crore ($117 million).
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Speaking on the fund raise, Varun Kogta, Executive Director and CFO, Kogta said,