JSW One raises ₹575 cr to boost MSME loans

50% funds will back JSW One Finance, the rest for expanding distribution

- Nehal Chaliawala

A ₹575-crore fundraising round announced by JSW One Platforms on Monday will help the B2B e-commerce firm underwrite more inventory loans and grow its loan book five times to ₹500 crore by the end of this year, the company's chief executive officer (CEO) said.

According to Gaurav Sachdeva, the company's joint managing director and CEO, about half of the capital raised will go towards capitalizing its in-house non-banking financial company—JSW One Finance Ltd.

The remainder of the proceeds will be utilized for scaling up JSW One Platforms, including expanding its distribution channels.

Over one-third of the orders placed on JSW One Platforms currently avail credit, Sachdeva said. This translates to the disbursal of about ₹475-500 crore every month in 60-90-day inventory funding loans.