Creador and Morgan Stanley PE-backed NBFC, Kogta Financial, announced on Wednesday that it has secured USD 148 million (INR 1230 crore) in Series E funding from the Ontario Teachers’ Pension Plan.
This investment will see Rahul Mukim, Director of Private Capital, India, joining the board of Kogta as the nominee of Ontario Teachers’ Pension Plan. Kotak Investment Banking served as the financial advisor for the transaction.
The Jaipur-based NBFC plans to use the raised funds as primary capital to drive growth across its product offerings and expand its regional presence. Kogta Financial specializes in secured vehicle and MSME financing.
This investment by Ontario Teachers’ Pension Plan will also provide partial exits to Kogta’s existing institutional investors, Morgan Stanley and Creador.
Arun Kogta, MD and CEO of Kogta, stated, “Ontario Teachers’ experience will help Kogta navigate the next phase of its growth journey, deepening its reach across chosen geographies and product segments.”
Deepak Dara, Senior Managing Director and Head of India for Ontario Teachers’, added, “The used vehicle and livelihood financing segment is significantly underpenetrated, and Kogta has built a scalable business model with a strong focus on asset quality, deep technology orientation, and talent.”
