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Conserve cash, flatten NPA curve, reassure partners: Capital Float has a plan to fight the tsunami

Cash is king, believe Capital Float’s founders Gaurav Hinduja and Sashank Rishyasringa. The digital-lending startup is undertaking minimal disbursals and has stopped all discretionary spends. It’s building sufficient collections capacity to ensure NPA curves are flattened post lockdown. It’s also reassuring all stakeholders. The company’s ‘perfect storm’ over the past year, they say, had prepared it for this tsunami.
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17 Apr 2020 5 Mins Read 2 comments
Sashank Rishyasringa (left) and Gaurav Hinduja , cofounders, Capital Float; image credit: courtesy of Capital Float
Sashank Rishyasringa (left) and Gaurav Hinduja , cofounders, Capital Float; image credit: courtesy of Capital Float
In September 2018, Capital Float recorded its best month ever — a record 200+ crore in loans disbursed, acquisition of Walnut, and the launch of our online checkout financing product. We were firing on all cylinders. Until a few days later, when we ran into the perfect storm. First, the IL&FS-led NBFC crisis dried up liquidity overnight. Then
perseverance. We will not back down, and we will face this challenge head on. We may come out on the other side bruised and battered but smiling. As Taleb, author of the The Black Swan and Antifragile wrote, “The resilient resists shocks and stays the same; the antifragile gets better.” We aspire to be such a company through this crisis.
In September 2018, Capital Float recorded its best month ever — a record 200+ crore in loans disbursed, acquisition of Walnut, and the launch of our online checkout financing product. We were firing on all cylinders. Until a few days later, when we ran into the perfect storm. First, the IL&FS-led NBFC crisis dried up liquidity overnight. Then perseverance. We will not back down, and we will face this challenge head on. We may come out on the other side bruised and battered but smiling. As Taleb, author of the The Black Swan and Antifragile wrote, “The resilient resists shocks and stays the same; the antifragile gets better.” We aspire to be such a company through this crisis.

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