Sales League Table 2020 | Banking Technology Winners

Results Announced!

Stay up-to-date with the latest industry news and analysis.

Subscribe to BankTech Daily News today. Limited time offer.

The Black Swan Opportunity | Get your bank digital ready.

IBSI Special 5 Digital Report Package with Special Offer. Subscribe now

Core Banking Market Dynamics Report 2020

Global analysis of core banking system sales. Subscribe now

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.

Related IBS Intelligence Research

Related Posts emerges from stealth mode & launches technology-powered Metal Card, a Philadelphia-based FinTech company, has announced its emergence from stealth mode to debut technology-powered Metal Card, a consumer spending product that leverages proprietary technology to give users controls, convenience, and automatic credit score optimization. With Guaranty, customers do not have to pay fees or interest. They will also receive a premium brand experience […]

This post is only available to members.

Read More »

Cloud9 Technologies teams up with comitFS to boost real-time voice trading APIs

Cloud-based communications provider Cloud9 Technologies has teamed up with comitFS, a UK-based provider of voice middleware and API abstraction capabilities for financial services companies. The collaboration will facilitate the development of real-time call control capabilities for voice trading within the institutional marketplace. “As trading dynamics shift to a more digitally-driven environment, firms want the peace […]

This post is only available to members.

Read More »

Quantum Group acquires mobile cashback app Tail

London-based FinTech incubator Quantum Group today announced the acquisition of mobile cashback app Tail. The acquisition is expected to enable Quantum Group to increase the number of banking partners integrated with Tail and to onboard different retailers from around the UK. Tail’s platform enables retailers to create hyperlocal marketing campaigns, thus allowing them to increase […]

This post is only available to members.

Read More »