The New Delhi-based NBFC, promoted by the SAR Group, started operations in 2018 and plans to break even next year. It offers invoice finance solutions to small and medium enterprises (SMEs) through tailor-made supply chain financing loans.
"The equity investment of DEG underlines the resilience of our business model apart from signalling emergence of supply chain finance as a potent financial sector investment option for investors," said LivFin founder Rakesh Malhotra.
As per the statement, DEG Vice-President Said Felix Schneider said, "We are convinced that LivFin has the potential to catalyse the advancement of the SME sector in this country."
LivFin has an active loan book of Rs 175 crore and cumulatively disbursed over Rs 1,500 crore till date.
Deutsche Investitions- und Entwicklungsgesellschaft (DEG) is a German development finance institution that has been into developmental funding for the past six decades, mostly providing funding to private sector enterprises operating in developing and emerging-market countries. PTI BEN HRS
Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI