Red Fort Capital Surpasses ₹100 Crore Assets, Secures ₹226 Million Debt Funding from Major PSU Banks to Expand SME Lending
Mumbai, 16th October 2024 – Red Fort Capital, an investment-grade NBFC, has successfully raised ₹226 million in debt funding, crossing the significant milestone of ₹100 crore in assets. This achievement marks a key regulatory threshold that reinforces its standing as a leading player in the SME lending sector.
The debt raise includes ₹150 million from a large Public Sector Undertaking (PSU) bank. Notably, Red Fort Capital has already secured prior financing rounds from the State Bank of India, the largest PSU lender. The latest PSU lender (name withheld) further expands PSU recognition of Red Fort’s SME coverage. Additionally, ₹41 million was raised through Non-Convertible Debentures (NCDs) via Foreign Portfolio Investors (FPI), and ₹35 million from USHA Finance. This diverse capital will be instrumental in accelerating Red Fort Capital’s mission to bridge the credit gap for small and medium enterprises (SMEs) across India.
With its proven ability to process and disburse loans in just seven days, Red Fort Capital is renowned for its swift and efficient loan offerings, enabling SMEs to seize growth opportunities promptly. The company has already established a nationwide presence and aims to enhance its secured business loan offerings across manufacturing, trading, and service sectors with this new infusion of funds.
Parry Singh, Founder & CEO of Red Fort Capital, commented, “We are proud to have surpassed the ₹100 crore asset mark, which is a testament to our robust financial performance and our unwavering commitment to empowering SMEs in India. This new debt raise not only strengthens our ability to serve even more businesses, but it also validates our approach of providing swift, tailored solutions that enable SMEs to grow. PSU banks understand the importance of SME lending and the vital role SMEs play as the second-largest employer in the country. As demand for capital continues to surge, we stand ready to meet the financing needs of India’s dynamic SME sector.”
This capital infusion demonstrates the confidence of major banking institutions and investors in Red Fort Capital’s lending model and its potential for rapid scaling in the coming years. By maintaining its focus on innovation, technology, and risk management, Red Fort Capital is positioned to attract even more banking partnerships, which are critical for its future growth.
About Red Fort Capital
Red Fort Capital Finance is an NBFC that provides quick, efficient business loans to SMEs, focusing on closing the credit gap in India. Known for disbursing loans within seven days, Red Fort Capital offers two main products:
Term Loan: Rs. 1 Cr to Rs. 10 Cr secured business loan backed by 2x-3x real estate collateral.
Invoice Discounting: Rs. 25 Lakh to Rs. 1 Cr short-term loan (60 to 120 days).
Red Fort Capital on a group level has invested over Rs. 10,000 Cr in India across two private equity funds and an investment-grade NBFC with Limited Partners (LPs) like ADIA, QIA, GIC, and NZ Fund.
