# SK Finance

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/sk-finance

- Industry: Financial Services
- Headquarters: Jaipur, India
- Website: www.skfin.in
- Total disclosed funding: $62M
- Latest round: Series E (May 12, 2021)
- Investors on record: 7

## About

SK Finance Limited, based in India, specializes in providing a diverse range of financial services, focusing on loans for vehicles and equipment to support both individual and business clients.Founded in 1994, SK Finance Limited operates from Jaipur, India, offering loans primarily for commercial vehicles, cars, and construction equipment. The company has successfully completed 11 deals and recently, in May 2024, raised INR 22,000 million in an IPO on the Bombay Stock Exchange, consisting of a fresh issue of equity shares worth INR 5000 million and an offer for sale of up to INR 1700 million by promoters and investors. The latest funding round involved multiple investors, including Ananta Capital and TPG.SK Finance Ltd. offers a comprehensive range of financial products primarily focused on loans for commercial vehicles, cars, tractors, construction equipment, two-wheelers, and secured business loans. Their core offerings aim to facilitate both individual and business customers in acquiring essential vehicles and equipment necessary for their operations. The company has established itself as a trusted partner for over 900,000 customers across diverse sectors, helping them meet their financial needs efficiently. With a presence in 12 states and one union territory in India, including significant markets such as Gujarat, Madhya Pradesh, Punjab, and Maharashtra, SK Finance tailors its services to cater to the unique requirements of its clientele, leveraging over 30 years of industry experience and ensuring that its loan products support various end-use cases.In the most recent fiscal year 2023, SK Finance Limited reported a revenue of INR 153,605,190.90 and an EBITDA of INR 107,515,339.10. The revenue model is structured around providing loan services to customers through direct-to-consumer transactions, catering to a broad spectrum of applicants, from individual entrepreneurs to small business owners, with customized financial arrangements based on their profiles.Looking ahead, SK Finance Limited plans to expand its product offerings and market reach. The company is in the process of designing new loan products aimed at enhancing its service portfolio and catering to emerging market needs. Additionally, they have set sights on expanding into new geographical regions, focusing particularly on markets in southern India by 2025. The funds raised from the recent IPO will be utilized to support these product developments and market expansion initiatives.

## Funding rounds

- Series E, May 12, 2021, $46M — TPG, Norwest Venture Partners, Baring Private Equity Partners, Evolvence India, BlackSoil, Northern Arc Capital
- Series B, Dec 30, 2017, $16M — Norwest Venture Partners, Baring Private Equity Partners, Evolvence India, Karma Holdings Private Limited

## Investors

- Norwest Venture Partners (https://capitalatlas.ai/funds/norwest-venture-partners) — Series B, Series E
- Baring Private Equity Partners — Series B, Series E
- Evolvence India — Series B, Series E
- Karma Holdings Private Limited — Series B
- TPG (https://capitalatlas.ai/funds/tpg) — Series E
- BlackSoil — Series E
- Northern Arc Capital — Series E