Avendus Finance loans Rs 25 crore to LEAP India

NEW DELHI: Avendus Finance, the credit solutions arm of diversified financial services firm Avendus Capital, has provided structured debt of Rs 25 crore to Mumbai-based supply chain solutions provider LEAP India. Proceeds from the structured debt financing will be used by LEAP India to fund its capital expenditure needs, as well as its future growth plans, the company said.

The debt financing round comes a little over a year after the firm reportedly raised $13 million in equity financing in January last year, proceeds from which were used to expand its team and develop its asset-pooling service. “LEAP is in a high growth phase and is backed by strong global and domestic investors, with a portfolio of diversified high-quality clientele and very experienced management team. We believe in the equity attractiveness of the company and will be happy to partner with them as they make headway into the future,” Sandeep Thapliyal, CEO of Avendus Finance, said. “Funds from Avendus will be used to support our robust growth plans that will set us on the path to become the leading pallet provider domestically. We value our relationship with the Avendus Group and feel the partnership can help us at various stages of the growth considering the other businesses it operates in,” Mathew said.