India-based digital lender Capital Float has raised $15m from e-commerce group Amazon, growth equity firm SAIF Partners and venture capital firms Ribbit Capital and Sequoia India, the Economic Times has reported.
Capital Float provides loan products through an online portal, supplying working capital for enterprises and consumer debt that is offered through e-commerce channels. The funding will increase the amount it is able to lend, helping it target more customers.
The company has now raised $125m altogether, according to ET. Amazon supplied $22m for a $67m series C round that closed in early 2018, and which included Ribbit Capital, SAIF Partners, Sequoia India and Creation Investments.
Creation Investments led a $25m series B round for Capital Float the year before that also featured SAIF Partners, Sequoia Capital and Aspada. The latter three had previously provided $13m in series A funding for the company in 2015.