After reaching a milestone of Rs 100 crore in assets, Red Fort Capital, an investment-grade NBFC, has successfully raised Rs 22.6 crore in debt capital.

The debt raise consists of a significant Public Sector Undertaking (PSU) bank contributing Rs 15 crore. Notably, Red Fort Capital has previously obtained funding rounds from the biggest PSU lender, State Bank of India.

In addition, non-convertible debentures (NCDs) sold by Foreign Portfolio Investors (FPI) raised Rs 4.1 crore, while USHA Finance contributed Rs 3.5 crore. Red Fort funding's objective to close the credit gap for small and medium-sized businesses (SMEs) throughout India will be accelerated by this varied funding.

Red Fort Capital provides secured loans with flexible funding choices ranging from Rs 1 crore to Rs 10 crore and a 7-day turnaround time that are specifically designed for enterprises.

With this additional funding, Red Fort Capital, which already has a strong national footprint, hopes to improve the secured business loan options it offers to companies in the manufacturing, trading, and service sectors.

Red Fort Capital's continued emphasis on innovation, technology, and risk management will put it in a strong position to draw in additional banking relationships, which are essential to its expansion going forward.

Expressing about the latest debt round, Parry Singh, Founder & CEO of Red Fort Capital says, “PSU banks understand the importance of SME lending and the vital role SMEs play as the second-largest employer in the country. As demand for capital continues to surge, we stand ready to meet the financing needs of India’s dynamic SME sector.”