• Chethan Machaknur

NBFC Finova Capital To Raise Around INR 260 Cr From Sequoia, Faering Capital

Non-Banking Financial Company (NBFC) Finova Capital is raising around INR 260 Cr from existing investors Sequoia Capital India (SCI) Growth Investments and Faering Capital.The company is also raising around 9.74 Cr from its founders, Mohit and Sunit Sahney.

Finova is an NBFC licensed by the Reserve Bank of India (RBI) and looks to provide loans to those in the financially excluded and unorganised MSME sector. The company provides loans to both urban and rural poor to meet their productive requirements in starting a new business or for growing an existing business.

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