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Kogta Financial raises $42.3 mn from Creador and Morgan Stanley PE Asia

Kogta FinancialKogta Financial (India) Limited, a retail NBFC that specializes in secured retail used and new Vehicles and MSME financing, has raised 3 billion rupees ($42.3 million) in Series C round led by Creador IV L.P., along with Morgan Stanley Private Equity.

Founded in 1996, Kogta operates 105 branches across 8 states in Central and West India serving over 30,000 active customers. It offers financing for used and new Commercial Vehicles, Cars and Tractors, along with loans to MSME segment.

“…The experienced team at Creador will help us further strengthen our systems and processes as we progress towards becoming a world-class institution. We hope to continue on our growth trajectory and increase penetration across chosen geographies without compromising on credit quality,” said Arun Kogta, MD and CEO of Kogta Financial.

In the last few years, the Jaipur-based company has expanded its network and augmented its second line of the management team and borrowing relationships. It has operations across Rajasthan, Gujarat, Maharashtra, Madhya Pradesh, Delhi, Punjab, Haryana and Uttar Pradesh. As on 30th September 2019, the Company had a loan book of about 8.25 billion rupees ($117 mn).

IIFL Seed Ventures Fund was the first institutional investor in the Company. It first invested in Oct 2016 and continues to remain invested and be a partner in the company.

“The Company has demonstrated strong scale-up since the new team took over in 2008, while prudently managing risks, especially in the challenging used commercial vehicle space. With continued focus on secured retail lending, presence in high growth markets, robust IT system and collections mechanism, Kogta is uniquely positioned to thrive in the Indian financial services sector. We look forward to working with the Kogta team to support its growth trajectory,” said Anand Narayan, Managing Partner at Creador Advisors India LLP.

Creador is a private equity firm focused on long-term investments in growth-oriented businesses in Southeast Asia and South Asia.

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