Credifin Raises $25 Million Through Equity and Debt to Accelerate Growth

17 Apr 2025 , 12:28 PM

Credifin Limited, previously PHF Leasing Limited, has raised ₹213.6 crore (about US$24.9 million) of equity and debt funding successfully. The capital raised consists of approximately 6.7% equity and 93.3% debt, and will be utilized to fuel the company’s fast growth in the financial services sector.

Credifin is a Non-Deposit-Taking Non-Banking Financial Company (NBFC) registered with the Reserve Bank of India since 1998 and listed on the Metropolitan Stock Exchange of India. Having a headquarters in Jalandhar with a corporate office at Delhi-NCR, Credifin provides secured mortgage loans against immovable property (Loan Against Property or LAP) and finances electric vehicles, including E-rickshaws, E-loaders, and electric two-wheelers.

In the last four years, the company has experienced robust growth and is growing its footprint by expanding existing branches, foraying into new geographies, and introducing new lending products to reach out to underserved customer segments.

The proceeds of the issue will enable the company to sustain its momentum, increase its product offerings, and extend its reach to communities that have no access to formal credit channels.

The debt capital has been raised from a combination of existing and new lenders. Some of the new lenders include Northern Arc Capital, ESAF Small Finance Bank, ICICI Bank, Kissandhan Agri Financial Services, Electronica Finance Limited, and Maanaveeya Development & Finance.

Current lenders including State Bank of India, AU Small Finance Bank, Cholamandalam Investment and Finance, SMC Moneywise, Vivriti Capital, MAS Financial Services, Shriram Transport Finance, Unicom Fincorp, and SK Finance are still behind the company’s growth journey.

Credifin’s Managing Director, Shalya Gupta, extended appreciation to all lending partners while stressing the role played by the company’s dealer network of 1,700 individuals and a workforce of 700 members to deliver growth.

Gupta further emphasized the firm’s digital upgradation, wherein more than 80% of overall collections now pass through electronic payment modes due to a robust IT backbone. Credifin is still keenly interested in financial inclusion and intends to construct Bharat by delivering flexible and powerful financial solutions to low-income groups and under-penetrated segments.