NBFC Finova Capital Nets $135 Mn To Expand Loan Book

Finova Capital, a non-banking financial company (NBFC), has raised $135 million to expand its loan book. The funding round was led by a consortium of investors, including private equity firms and development finance institutions. Finova Capital plans to use the funds to enhance its lending capabilities and reach more underserved segments of the market. The company focuses on providing loans to micro, small, and medium enterprises (MSMEs) and individuals who lack access to traditional banking services. The infusion of capital will enable Finova Capital to scale its operations and support the growth of MSMEs in India. The company’s mission is to bridge the credit gap and promote financial inclusion. The successful funding round reflects investor confidence in Finova Capital’s business model and its potential to drive economic development through inclusive finance.