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Capital Float secures Rs 15 Cr from MMFS

Capital Float secures Rs 15 Cr from MMFS

Monday, April 10, 2017, 9:40 AM

Digital lending startup Capital Float has raised Rs 15 crore from Mahindra and Mahindra Financial Services by allotting non-convertible debentures (NCDs).The Bengaluru-based company, which lends to small and medium businesses (SMEs), had raised Rs 17 crore from IFMR Capital Finance through NCDs in December. NCDs are loan-linked bonds that cannot be converted into stocks but offer a higher rate of interest than convertible debentures.
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