Credifin Limited, formerly known as PHF Leasing Limited, has successfully raised $24.9 million (Rs 213.6 crore) through a strategic mix of equity and debt, marking a significant milestone in its growth journey as a non-banking financial company (NBFC) in India. The fundraising, which comprises approximately 6.7% equity and 93.3% debt, is designed to fuel the company’s robust expansion in the financial services sector, with a particular focus on secured MSME mortgage loans and electric vehicle financing.
Headquartered in Jalandhar and listed on the Metropolitan Stock Exchange of India, Credifin has been registered with the Reserve Bank of India since 1998. The company has built a strong presence across 13 states and union territories, operating in over 200 locations and employing more than 700 people. Its core offerings include mortgage loans against immovable property—commonly known as Loan Against Property (LAP)—and financing for electric vehicles such as E-rickshaws, E-loaders, and electric two-wheelers.
The latest capital infusion will enable Credifin to sustain its impressive growth trajectory, broaden its product portfolio, and reach out to underserved communities that have historically lacked access to formal credit channels. Over the past four years, the company has experienced rapid growth, expanding its branch network, entering new markets, and launching innovative lending products tailored to the needs of low-income and under-penetrated segments.
The debt portion of the funding has been sourced from both existing and new lenders. Notable new partners include Northern Arc Capital, ESAF Small Finance Bank, ICICI Bank, Kissandhan Agri Financial Services, Electronica Finance Limited, and Maanaveeya Development & Finance. Existing supporters such as State Bank of India, AU Small Finance Bank, Cholamandalam Investment and Finance Company, SMC Moneywise, Vivriti Capital,
MAS Financial Services, Shriram Transport Finance, Unicom Fincorp, Vivriti Asset Management, and SK Finance continue to play a pivotal role in Credifin’s journey.
Shalya Gupta, CEO of Credifin Limited, expressed gratitude to the company’s lending partners and highlighted the critical role of its 1,700-member dealer network and 700-strong workforce in driving growth. Gupta stated, “Our existing lenders have again reposed faith in our offerings and have been a pillar of strength. In addition, the new lenders this year include the who’s who of the industry, and we are fortunate that they are partnering with us in taking forward the Credifin revolution, focusing on building Bharat and serving the underserved communities. I am equally grateful to our 1700-strong dealer network, 700-member team, which is providing tailwinds to this growth momentum.” He further added, “We are a true proponent of digital payments, and today, out of our total collections, more than 80% are done digitally. This is something that I am justifiably proud of, and the credit for this goes to our robust IT infrastructure”.
Credifin closed the third quarter of FY2024- 25 with assets under management (AUM) of Rs 312 crore, underscoring its growing impact in the financial inclusion landscape. The company’s commitment to digital transformation and expanding access to finance positions it as a key player in India’s evolving NBFC sector.
