PHF Leasing raises $10 million

PHF Leasing Ltd., a deposit-accepting Non-Banking Financial Company (NBFC), said it had raised $10 million capital via a mix of equity and debt. 

“This includes around 60% equity and 40% debt. This money will be used to fund the aggressive growth that the company is witnessing in the segments that it operates in,” the company said in a statement.

The company offers mortgage loans against immovable property (LAP) and financing e-vehicles primarily e-rickshaws, e-loaders and EV 2 wheelers.

“The $6 million equity infusion will help us maintain a healthy debt equity ratio as per industry norms. We will be utilising the funds to reach newer geographies and maintaining an over 50% YOY growth”, Shalya Gupta, CEO, PHF Leasing Limited said. 

He said the company would focus on providing loans to underserved sections of the society.