Sequoia joins $50m round of Indian BNPL platform

Capital Float, an India-based buy now, pay later platform, has secured US$50 million in equity funding.

More funding details

• Lead investor: Lightrock India
• Other investors: Sequoia Capital India, Ribbit Capital, Creation Investments, and the family office of EnProCon owner Dinesh Hinduja
• Returning investors: Nubank founder David Velez, Cred founder Kunal Shah, and Pine Labs CEO Amrish Rau
• Stage: Unspecified

More company updates

• Capital Float said the new funding comes after it saw rapid growth over the past year. It now has 2.5 million customers who use its product to finance over US$270 million in online purchases per year.
• In a joint statement, co-founders Sashank Rishyasringa and Gaurav Hinduja said that Capital Float is currently helping finance 2 million purchases every month.
• The company will use the new funds to scale its platform and onboard new partner firms.
• In addition to its BNPL offering, Capital Float also operates Walnut, a personal finance app that has over 12 million downloads.

For more coverage of the company, head here. You can also click on the link below to view key details about the company, as well as its funding history.