Capital Float raises $50 mn to scale up buy-now-pay-later platform in India

Capital Float, the buy-now-pay-later platform, on Tuesday said that it has raised $50 million in equity funding led by Lightrock India. Current investors Sequoia Capital India, Ribbit Capital, Creation Investments and Dinesh Hinduja family office also participated in the round, in addition to new investors David Vélez, founder of Nubank, Kunal Shah, founder of Cred, and Amrish Rau, CEO of Pine Labs.

The funds raised will be used to strengthen and scale Capital Float’s BNPL platform and expand its partner ecosystem. The company has witnessed rapid growth over the past year, with 2.5 million customers now using its product to finance over Rs 2,000 crore of online purchases annually.