Mumbai-based non-banking financial company (NBFC) Credit Wise Capital (CWC) on Tuesday said it has raised Rs 120 crore in funding from Trident Growth Partners. CWC will use the capital to scale its technology-led two-wheeler and other secured lending solutions across Tier 2 to Tier 4 cities, the company said in a statement.
"This fresh capital will be used to significantly grow its assets under management over the next 3 years, expand into other secured lending segments, and strengthen its proprietary technology platform that enables real-time, customer-focused credit experiences for underserved communities," it said.
Credit Wise Capital currently manages an asset base of Rs 645 crore. The company claims to have financed over 200,000 two-wheelers.
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