Clix Capital disburses INR 15,000 crore in 5 years; plans to lend more than INR 4,000 crore in FY2022-23

Clix’s AI and data analytics capabilities have helped create a seamless digital journey for customers

National, March 07, 2022 (GNI): Clix Capital Services Pvt Ltd (‘Clix Capital’), one of India’s leading digital-lending NBFCs, today announced that it will disburse more than INR 4,000 crore in FY 2022-23. It also announced that the company has crossed the INR 15,000 crore disbursement milestone since its rechristening from GE Capital 5 years ago.

Clix Capital has been servicing individual borrowers and MSMEs and has given out more than 50 lac loans till date. A majority of the company’s disbursements have gone to MSMEs who have received about 48% of these funds. With a month-on-month targeted disbursal rate of more than INR 350 crore, the leading NBFC is well on its course to disburse over INR 4,000 crore in the next fiscal.

On setting up this ambitious target for the coming year, Rakesh Kaul, CEO – Clix Capital, said: “We have set a target of disbursing over INR 4,000 crore for FY 2022-23 and we are very much on course for that. Ever since our inception, we have been redefining the lending space in India by creating products and services that meet the financial needs of our customers. Today, Clix Capital has created history by disbursing INR 15,000 crore to individuals and businesses since we started 5 years ago. Over the years we have expanded our ecosystem and we have serviced individual borrowers and funded across sectors, and will continue to do so. Our vision lies in simplifying lending and enabling financial inclusion for all people. We have succeeded in this mission having touched over 50 lacs customer lives in our journey till date.”

Customer convenience and satisfaction is at the core of Clix Capital’s operations. It follows a proprietary AI and data analytics-enabled underwriting model for segmentation and due diligence to determine customer eligibility within minutes. Clix has invested significantly in crafting a complete end-to-end digital journey for its consumers, where a customer can receive the loan in his/her bank account within minutes. This smooth customer journey is poised to be a great future enabler for Clix Capital towards serving customers who are finding it difficult to procure loans from traditional lenders, stated in the press release.

About Clix Capital is a new age NBFC revolutionizing the lending space by offering differentiated digital lending products that are driven by technology and deep analytics. It offers a range of lending products to a varied spectrum of customers across the MSME and consumer segment, including personal loans, MSME loans, healthcare loans, and mortgage finance.

Clix is co-founded by industry veterans Mr. Pramod Bhasin and Mr. Anil Chawla and is backed by a private equity fund AION Capital Partners Limited (an affiliate of Apollo Global Management, LLC – one of the largest alternate investment managers globally with AUM of $433 billion). Mr. Bhasin is the founder of Genpact and the former CEO of GE Capital India and Asia; and Mr. Chawla has been the former CEO of GE Capital India and Asia’s Commercial Finance Business.

Together Mr. Bhasin, Mr. Chawla and AION jointly acquired the commercial lending and leasing business of GE Capital India in September 2016 and rechristened it Clix Capital.ends