The fintech lender, which began operations with a focus on small and medium enterprises, is raising funds again but at a considerably discounted valuation as it seeks to reinvent itself as a 'buy now, pay later' startup. But questions around its asset quality remain
May 24, 2021
9 Min Read
After years of a tumultuous journey, Capital Float is testing the winds again with a trending consumer lending model—buy now, pay later—that it hopes will bring it some stability. But the move could come at a cost, with the fintech lender staring at a significant fall in its valuation as it seeks more funds to build its new business.
Capital Float started operations in 2013 with a focus on lending to small and medium enterprises untouched by traditional financial players. It quickly expanded, but sometimes too fast for sustainable growth.
The new funding round could now provide a fresh lease of life to the Gaurav Hinduja and Sashank Rishyasringa founded startup as it doubles down on consumer lending, taking a detour from its origins.