One amongst the fastest growing and award-winning NBFC, TAB Capital has successfully raised 80Cr in debt from Vijaya Bank, Bank of India, South Indian Bank and MAS Financial. Registered with the RBI as a non-deposit taking NBFC, TAB Capital is set to utilize the debt funding to propel on its targeted growth of reach loan books of INR 200 Cr by March, 2018 and subsequently, of INR 500 Cr by March, 2019.
Based out of Pune, TAB Capital has already reached the AUM of INR 125 Cr, as of 31st Oct’2017. The digital lending NBFC has disrupted the status quo with its focus on technology, completing the entire disbursement process within 2 working days. Providing loans between INR 2 lakhs and 1 Crore, the company further plans to launch innovative products in two-wheeler loans, later this year.
Commenting on the latest development, Abhay Bhutada, Chairperson and MD, TAB Capital, said, “We are thankful for the faith shown by the reputed banks in our business model and providing us with INR 80 Cr in debt funding. At TAB Capital, the entire process is digital and automated with extensive use of big data and analytics that has helped the company maintain its unique digital banking model with Nil pre-payment penalty, minimum documentation and flexible repayment options. We are further targeting a loan book of Rs 200 Crore by March 2018 and Rs 500 crore by March 2019.”
TAB Capital is currently present across five branches - Pune, Delhi, Bangalore, Chennai & Hyderabad with employee strength of 70 people. In the next two years, the company also wishes to increase its employee strength, while growing its presence across 20-30 new branches.