[Funding alert] Jaipur-based NBFC SK Finance raises Rs 400 Cr in Series F round led by IIFL Wealth

SK Finance, a Jaipur-based NBFC, has raised Rs 400 crore (roughly $53 million) in Series F round of subsidizing from IIFL Wealth and other new financial backers.


Joined in 1994 and previously known as Ess Kay Fincorp it is supported by different financial backers like TPG Growth, Norwest Venture Partners, Baring India, and Evolvence India Fund.


With this capital raise, SK Finance has in total raised with regards to Rs 1,400 crore from six financial backers.


SK Finance MD and CEO Rajendra Setia said, "The current venture will empower the organization to proceed with its development direction and further fortify the administrative role worked throughout the long term."

SK Finance offers financing for five unique item portions, including business vehicles, farming and development hardware, traveler vehicles, bikes, and private venture advances.


As of September 30, 2021, SK Finance had a functioning borrower base of around 220,000 people and resources under administration of roughly Rs 4,100 crore.


As indicated by this NBFC, it has made a specialty position in rustic and semi-metropolitan business sectors with profound dissemination across north, west and focal India covering 10 states with an organization of 390 branches that fill the roles of on-ground deals, guaranteeing and assortment foundation.


SK Finance noticed that being one of the most established NBFCs, it has seen numerous cycles and disturbances in the business climate given different outer occasions in the course of the most recent couple of years.


The NBFC asserted that it has kept on faring admirably both as far as development and resource quality, having conveyed an advance book development at more than 40% CAGR in the course of the most recent seven years while keeping up with solid resource quality and bring profile back.

"Our current financial backers alongside the new financial backers just as our 55+ loaning accomplices add gigantic solidarity to our monetary record and development plans, as we stay focused on making an incentive for every one of our partners," Rajendra said.


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