Mumbai, Nov. 7 -- Arka Fincap Ltd, a Kirloskar Group-promoted NBFC, has signed definitive agreements with The Rise Funds, TPG's global impact investing platform, for an initial investment of Rs.525 crore, the company said in a statement on Saturday.

The investment could increase by another Rs.275 crore, subject to Arka meeting specified business milestones and obtaining regulatory approvals.

The investment will provide growth capital to support the evolution of the business through deepening its geographical reach and accelerating investments in technology and risk management capabilities. Avendus Capital acted as the exclusive financial advisor to Arka.

"Many of India's MSMEs and vehicle operators remain underserved by formal financia...