Lending firm Prayaan Capital raises Rs 110 crore from Peak XV Partners
Non-banking finance company Prayaan Capital has raised Rs 110 crore led by Peak XV Partners, according to a statement. Former Five Star Business Finance CEO Rangarajan Krishnan recently acquired a controlling stake in the 2018-founded Prayaan Capital.
The statement said that the capital will be used to build Prayaan Capital’s lending platform, expand its team, and grow its presence across key MSME markets in India.
The company plans to focus on loans to micro, small and medium enterprises (MSMEs), a segment that continues to face a large funding shortfall, it said, adding that the credit gap for India’s MSMEs is pegged at about $300 billion.
