Capital Float, an India-based buy now, pay later platform, has...

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

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.