New Delhi: Red Fort Capital funds INR 100 million to Brick and Byte Innovative Products to support their working capital requirements. They are a leading sheet metal fabricator based in Navi Mumbai, Maharashtra. Their major customers include corporates like Bharat Electronics India, EON Global, Vertiv Energy, Tokheim, and more. Brick and Byte is a 20-year-old manufacturer with expertise in precision manufacturing and rapid prototyping services to meet the requirements of their clients. They had seen a resurgence in demand post-COVID and needed funds quickly to capitalize on the opportunity.
Red Fort Capital understood the client’s need and could disburse the loan within 10 days based on the company’s proven track record and promoter’s entrepreneurial spirit. Red Fort Capital stands firm with its goal of enabling MSMEs to grow and scale up their operations. MSMEs remain the backbone of the nation and a primary source of employment for the nation’s youth.
“Supporting business owners to sustain and grow stays at the heart of the underwriting policy of Red Fort Capital. With Brick and Byte, we saw the potential of the business model, commitment of the promoter, and the potential value it can create through this loan of ₹100 million.” – said Mr. Parry Singh, Founder & CEO of Red Fort Capital.
Brick and Byte hopes to double their revenue by infusing this debt into their working capital, effectively absorbing its excess capacity and scaling exponentially over the next few years.
“I needed funds to expand my business further, and Red Fort Capital stood strong on their promise of speed and value creation. They understood the ins and outs of my business and were extremely transparent throughout the loan process,” said Mr Prashant Kamat, Promoter of Brick & Byte Innovative Products.
Red Fort Capital seeks to continue growing its loan book over the next 2 quarters and finance MSMEs that show commitment, character, and cash flow consistency. By understanding the issues MSMEs face in terms of working capital crunch, capacity expansion plans, etc., Red Fort Capital designs a debt finance structure to suit and support viable businesses.
About Red Fort Capital
Red Fort Capital Finance is an RBI registered Investment Grade NBFC specializing in providing quick Business loans to Micro, Small and Medium Enterprises (MSME) – typically in under 7 days. Red Fort Capital was founded by Parry Singh, a serial entrepreneur who has founded over 9 companies. Red Fort Capital has multiple financing vehicles, including its Regulated NBFC in India, a globally focused Principal Investing Group, and market-leading Private Equity Funds. Red Fort Capital NBFC seeks deals of Rs.1 Cr to 10 Cr for financing for working capital, equipment and machinery.
