Thursday, May 23 2024 | Time 06:25 Hrs(IST)
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Business Economy


PHF Leasing raises $10 million via a mix of equity and debt

New Delhi, April 16 (UNI) Non-banking financial company (NBFC) PHF Leasing on Tuesday said that it has raised US$ 10 million through a mix of equity and debt.
The fresh capital includes around 60% equity and 40% debt.
"This money will be used to fund the aggressive growth that the company is witnessing in the segments that it operates in," PHF Leasing said in a media release.
The company said that debt has been raised from existing lenders as well as onboarding new lenders.
Further, it said that as many as 82 individuals and companies participated in the equity raising round and the company onboarded three new lenders in March 2024 including Cholamandalam Investment and Finance Company, SMC Moneywise and Vivriti Financial.
“This round of funding by investors and corporates reflects their confidence in our system and process led growth. The $6 million equity infusion will help us maintain a healthy debt equity ratio as per industry norms. We will be utilizing the funds to reach newer geographies and maintaining an over 50% year-on-year growth”, said Shalya Gupta, CEO, PHF Leasing.
He further added that PHF leasing is focused on providing loans to the underserved sections of the society with an aim to make them self-reliant.
Some of the lenders currently working with PHF Leasing include SBI, AU Small Finance Bank, MAS Financial Services, Ambit Finvest, Incred Financial Services, Shriram Transport Finance, Unicom Fincorp and Growmoney Capital.
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GRSE clocks Rs 1,016 Cr revenue from operation in Q4 FY24

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L& T Finance launches Complete Home Loan in Chennai

22 May 2024 | 8:26 PM

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Nykaa profit surges 300 pc to Rs 9 07 crore in Q4

22 May 2024 | 8:24 PM

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dSPACE opens Asia’s first global Competence Centre in Kerala capital

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Software testing conclave held at Technopark

22 May 2024 | 8:20 PM

Thiruvananthapuram, May 22 (UNI) The technical forum of Prathidhwani, the welfare and recreation forum of IT employees at Technopark, in association with software company DCKAP QA Touch conducted a conference on software testing in Technopark here on Wednesday.

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