Capital Float: why all’s not well with the poster boy of fintech lending
BCCL
Gaurav Hinduja (left) and Sashank Rishyasringa, co-founders of Capital Float
Synopsis
Industry sources say Capital Float has shuttered down its consumer-finance vertical and nearly 70-100 people have been laid off. But its founders say they are restructuring the business and focusing on e-commerce checkout financing, personal loans, and small-ticket SME loans.
The NBFC crisis sparked by the ILF&S debacle is claiming new victims. Cracks have started appearing in the fintech-lending space and its poster boy, Capital Float, seems to have slowed down. If several industry sources are to be believed, the Bengaluru-based fintech-lending firm has shuttered its consumer-finance vertical and nearly 70-100 people have been laid off. “Some mid- and senior-level executives are also looking out,” says founder
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