Kogta Financial (India) Ltd. said Multiples Private Equity has signed definitive documents to lead an £846 million ($111 million) Series D round at the company.
The Canada Pension Plan Investment Board and existing investors, Morgan Stanley Private Equity Asia and Creador IV LP, also participated in this round, the company said.
The funds will be used as primary capital to support the company’s continued growth across products and geographies, and will also enable its first Series A institutional investor, IIFL Seed Venture Fund, to fully exit.
Kogta focuses on the large and underserved vehicle finance market and specializes in used vehicle finance and MSME loans. Kogta started in Rajasthan and has now expanded to eight states with more than 175 offices. The company has over ₹2,000 crore of assets under management spread across commercial vehicles, passenger cars, tractors and MSME loans.
Arun Kogta, MD and CEO, said, “This is a significant milestone for the company and we are pleased to welcome Multiples and CPP Investments on board. Her experience would help Kogta navigate the next phase of its growth trajectory and deepen its reach in select geographies and product segments.”
“We have doubled our assets under management in the last two years despite COVID and we see a great opportunity for the business to grow further to £5,000m over the next two years,” he added.
