SK Finance Ltd is an Indian NBFC that focuses on financing for used and new vehicles as well as secured business loans. The company is described as IPO-bound. Recently it raised Rs 1,328 crore (about $159.9 million) in a funding round. That round included participation from existing and new investors and was backed by Motilal Oswal Alternates. The articles do not disclose operating metrics such as revenue or user counts. No other future-product plans beyond the IPO-bound status are mentioned in the coverage. Ess Kay Fincorp Ltd is a non-banking finance company that has created a niche in rural and semi-urban markets with deep distribution across North, West and Central India. The firm operates on-ground sales and collection infrastructure targeting un-banked and under-banked populations and emphasizes strong underwriting and asset quality. Its product focus includes used vehicle finance and SME finance. Management, led by Managing Director Rajendra Setia, highlights the company’s rural-focused lending platform and underwriting strength. The company has raised marquee investor capital, and with the latest round has now secured over ₹1,000 crore of external capital. Spark Capital served as the financial adviser to the company for this round. Ess Kay Fincorp is a non-banking finance company that primarily helps customers in rural and semi-urban India buy used vehicles and run small and medium-sized enterprises. The lender operates through a network of 300 branches across six states in northern and western India and serves more than 2.25 lakh customers. Average vehicle-finance ticket size is Rs 3 lakh over an average tenure of three years, while SME loans average Rs 7 lakh over five years. Ess Kay targets first-time borrowers and focuses on financing used vehicles and SMEs in underserved regions. The company intends to use new capital to expand its CNG vehicle portfolio by enabling borrowers to buy and convert gasoline- and diesel-powered cars into compressed natural gas vehicles, a move framed around promoting cleaner technologies and improving air quality in India. Ess Kay Fincorp was founded in 1994 and began as a two-wheeler financier in Rajasthan. It now offers loans for commercial vehicles, agricultural and construction equipment, passenger vehicles, two-wheelers, and to small businesses. The company operates through a network of about 250 branches across Rajasthan, Gujarat, Punjab, Haryana, Madhya Pradesh and Maharashtra. Management emphasizes a differentiated model supported by a direct sourcing network, hands-on underwriting, quick turnaround and a robust collections mechanism targeting a difficult-to-serve credit category. As of 30 September 2018 Ess Kay had assets under management of about Rs 1,550 crore. The firm has pursued multiple fundraises this year to support its growth and outreach in its focus geographies. Ess Kay Fincorp is an NBFC focused on vehicle finance and small and medium enterprise (SME) loans in rural and semi-urban India. The firm operates through a network of 240 branches across six states in northern and western India, serving more than 75,000 customers with a loan book of over Rs 1,100 crore. Typical ticket sizes are around Rs 3 lakh for vehicle loans (average tenure three years) and Rs 7 lakh for five-year SME loans. Promoted by Rajendra Setia and based in Jaipur, the company plans to use fresh capital to deepen presence in existing locations and expand into new regions. It is targeting rapid growth—aiming for a loan book of Rs 2,500 crore by March 2019 and Rs 6,000 crore by 2022—and intends to more than double its loan book in a little more than a year.

Total raised

$319M

Funding rounds

5

Latest round

Equity

Latest activity

Jan 2024