SMEs-focused lending platform Clix Capital rakes in $40 Mn from AION Capital

Small and medium enterprise-focused lending platform, Clix Capital, has raised a fresh $40 million round led by its largest stakeholder AION Capital.

AION Capital is a joint venture between US-based private equity major Apollo Global Management and Indian PE firm ICICI Venture. With $825 million assets under management, AION holds an 85% stake in Clix while rest 15% owned by the NBFC's founder Pramod Bhasin and Anil Chawla.

The Gurugram-based company will utilise the proceeds to push into the consumer lending segment besides building its digital platform. On the other hand, AION will bring its global experiences and expertise of technology and practices to Clix’s business by keeping an eye on asset quality and profitability.

Unlike struggling NBFC's, Clix claims to have NPAs of less than 1% and served over 3 million customers since inception. Further, it is gearing up for a loan book of Rs 5,500-6,000 crore by the end of FY20.

In the SME segment, Clix lends to schools, small businesses and healthcare, whereas consumer can apply for a hassle-free loan for travel, education, wedding, medical emergency, two-wheeler, and buying a home.

The firm has also launched an exclusive product for women to provide a collateral-free loan of up to Rs 5 lakh without any processing fee.

In the coming months, Clix is planning to launch a series of financial products while using its platform as lending as a service.

In June, the company came under the spotlight for acquiring loan book of Paytm Postpaid. The SoftBank-backed company was reportedly transferring loan books of Paytm Mall to Clix.

A month later, Paytm had also tied up with Clix Finance to provide immediate digital loans for MSMEs and self-employed. As per the report, the loans would be extended through Paytm Postpaid as a deferred payment option for consumers and to merchants as a credit line.

The development was reported by ET.