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BanyanTree Invests In Jaipur-based Esskay Auto Finance

05 March, 2012

BanyanTree Growth Capital LLC has invested in Esskay Auto Finance Pvt Ltd, a Jaipur-based non-banking financial company (NBFC) which finances pre-owned commercial vehicles. Although the investment amount was not immediately known, BanyanTree would have a board representation. 

Esskay is promoted by Rajendra Setia, a veteran in the vehicle financing business, and focuses on high growth in tier II and tier III cities. The company will use the capital to ramp up its business aggressively and also improve its capital structure.

The company currently has 45 branches across Rajasthan and Gujarat, and claims that its assets under management (AUM) has grown by a CAGR of more than 90 per cent over the past three years. 

The latest funding is BanyanTree’s eighth investment in India and its second one in 2012. Its existing portfolio includes Axiom Cordages, Trimax IT Infrastructure Systems, GEI Industrial Systems, Deepak Fasteners, Dee Development Engineers and Dilip Buildcon, among others.

Mumbai-based Ladderup Corporate Advisory Pvt Ltd was the advisor to the transaction.  


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BanyanTree Invests In Jaipur-based Esskay Auto Finance

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