UditEss Kay Fincorp, a Jaipur headquartered non-banking company has now secured $33 million in the found round led by the private equity fund TPG.
The valuation of the deal was not disclosed, and the funds will now going to be used for business growth.
Ess Kay is a 25-year-old company with an INR 2500 crore book that focuses on the small business owners and commercial vehicles. This is the fourth round of funding for the company since 2012. INR 300 crore was secured in the last one year ago.
“Since our last equity round, despite tight market conditions, we have continued to march towards our goal and capitalise on the platform built over the last 25 years by focusing on our niche and demonstrating the resilience of our business model,” Ess Kay Managing director and chief executive Rajendra Setia said.
“We have great confidence in Ess Kay Fincorp’s leadership team and are delighted to make a significant follow-on investment in this round to support the company’s next phase of growth,” TPG Partner Gaurav Trehan said.