Non-banking finance company Kogata Financial (India) Limited has raised $111 million (₹846 crore) as a part of its Series D funding led by domestic private equity fund Multiple Alternate Asset Management. Canada Pension Plan Investment Board (CPPIB) also joined the round as a new investor.
According to experts, existing backers Morgan Stanley Private Equity Asia and Creator also participated in the fund raising. The company is a fast growing retail NBFC specializing in Secured Retail Vehicles and MSME Financing.
These companies invested
Canada Pension Plan Investment Board (CPP Investments), Multiple and existing investors Morgan Stanley Private Equity Asia and Creeder IV LP also participated in the round among private equity investors that have invested in the company. The fund will be used as primary capital to further drive Kogata’s continued rapid growth across products and sectors. This Series A will provide an exit to Kogata’s first institutional investor in IIFL Seed Venture Fund.
What did the company say?
Arun Kogata, MD & CEO, Kogata said, “We have grown our AUM 2x during the last 2 years despite COVID and we see a strong opportunity for the company to grow to Rs 5,000 crore in the next 2 years.” Kogta, which was launched in 1996. Kogata focuses on under-served vehicle finance market in second hand vehicle financing and MSME loans. The company has an Asset Under Management (AUM) of more than 2,000 crores in commercial vehicles, passenger vehicles, tractors and MSME loans.