Kolkata-headquartered cleantech NBFC firm Perpetuity Capital has raised an undisclosed amount in debt funding led by UC Inclusive Credit.
According to the startup, the raised capital would be used to expand its loan book in the L5 segment by financing single-owner drivers and small fleet operators in Delhi NCR, Karnataka, Bihar and West Bengal, where it plans to deploy the funds.
Founded in 2017 by Karmveer S. Dhillon and Karan Dhillon, Perpetuity Capital enables asset ownership for single-owner operators, drivers, and underserved entrepreneurs in the auto sector to ensure financial inclusion.
Customers can apply online through mobile or the web. Through the company’s cutting-edge digital lending platform, users may apply for loans quickly and easily. Through their own lending firm (NBFC), which is overseen by the Reserve Bank of India, they offer lending products to their clients.
“Going forward we want to increase the number of data points to 200 and completely automate our underwriting process. We believe lending through our balance sheet gives us an advantage over our competitors in an interest rate up-cycle with cost of capital increasing dramatically in the short and medium term,” said Karamveer Dhillon, CEO of Perpetuity Capital.
Source @Indianstartupnews
