Kogta Financial (India) has raised Rs 300 crore ($42.3m) in a Series C funding round led by Malaysia based private equity firm Creador IV, along with Morgan Stanley Private Equity.
Founded in 1996, Kogta offers financing for used and new commercial vehicles, cars and tractors, along with loans to micro, small and medium enterprises.
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The financial services firm operates 105 branches across eight states in Central and West India serving more than 30,000 active customers
Kogta Financial MD and CEO Arun Kogta said: “The experienced team at Creador will help us further strengthen our systems and processes as we progress towards becoming a world-class institution. We hope to continue on our growth trajectory and increase penetration across chosen geographies without compromising on credit quality.”
It is the second round of investment by Morgan Stanley Private Equity in Kogta Financial.In 2018, a fund managed by Morgan Stanley PE Asia invested about Rs 114 crore for a minority stake in Kogta.
In the recent years, Kogta has significantly expanded its branch network and augmented its second-line of the management team and borrowing relationships. It is now poised to reap the benefits of this expansion post the fresh fund infusion.
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By GlobalDataIn 2016, Kogta raised its first PE investment from IIFL Seed Ventures Fund I. Equirus Capital acted as exclusive advisors to Kogta for the fund raising.
