Received approval within five months of the application under the Registration of Factors
by Suman Gupta
Mumbai, 11th May 2023: Profectus Capital Private Limited (PCPL), an NBFC backed by Actis, a global private equity firm, has received the Certificate of Registration (CoR) under the Factoring Regulation Act, 2011 from the Reserve Bank of India (RBI). It is among the first few NBFCs to be granted the CoR. This milestone will enable PCPL to undertake factoring services to serve MSME customers better.
Profectus Capital plans to offer their customers timely and efficient factoring services to improve their working capital management, boost their businesses, and receive short-term finance to fund operations. The company will continue to focus on select manufacturing and service sectors based on its cluster-based lending approach.
Profectus Capital plans to focus on BBB- and above-rated corporate buyers and offer factoring services to a segment that has a large unfulfilled demand. Pricing of financial assistance would vary with the risk profile of the assisted entities.
Mr K V Srinivasan, Executive Director, and CEO, Profectus Capital Private Limited, said, “We have been at the forefront of providing financial solutions to MSMEs across India. We are excited on the quick approval of our application from the RBI. This approval will enable us to penetrate deeper into our existing markets and widen our customer base. We expect the factoring space to evolve significantly over the next two years, owing to the inclusion of NBFCs and expect MSMEs to benefit significantly from an immediate improvement in their cash flows at a very low cost.”
About Profectus Capital: Profectus Capital Pvt Ltd (Profectus Capital) is a non-banking financial company (NBFC) that focuses on providing bespoke financial solutions to MSMEs in select manufacturing and services sectors. The company commenced operations in November 2017 and has financed entities in various sectors such as education, pharmaceuticals, healthcare, food processing, engineering and machine tools, printing and packaging, textiles, chemicals, and plastics. Most of the customers with a turnover of Rs 30-300 million. Profectus Capital has 24 branches in 24 cities across 12 states/union territories. Actis, a global private equity (PE) firm, holds a 100% stake in the Company.
Profectus Capital has built sectoral expertise and offers Cluster Specific Term Loans, Equipment Purchase Loans, Supply Chain Finance and Funding to smaller NBFCs. The company leverages cutting-edge technology for quicker and more robust loan processing, more accessible documentation, and consistent decision-making.
Website: http://www.profectuscapital.com
