Capital Float, a leading digital financial services player, said it has crossed ‘1 Million Lifetime Customers’. The company said that it has disbursed over $1.2 billion (Rs 90 billion) to date to its MSME and retail customers spread across 300 cities in India. Since the onset of covid, the company has seen demand surge for its small-ticket digital credit facilities, particularly for making purchases online. It is now adding approximately 150,000 new customers per month and is on track to double its existing customer base by the end of the year. Customers can avail of flexible credit options such as instant zero cost or low-cost EMI, with customizable repayment periods, to fund their purchases online. The company’s Personal Finance Management app, Walnut, crossed 10 million downloads in July 2020. Walnut goes beyond credit, helping users budget, save, track expenses and even buy insurance, the company said. Sashank Rishyasringa, co-founder, Capital Float said the company’s mission has always been to improve access through technology to finance for India’s “missing middle”. He added that the company is eager to scale up these offerings to consumers across the country, especially in smaller towns and cities where the new-to-credit population is significant.”
