Red Fort Capital lends Evocus, a manufacturer of black water Rs 10 crore
- ByStartupStory | November 14, 2022
Manufacturer of black alkaline water Evocus has received financing from Red Fort Capital Finance (Red Fort Capital), a major NBFC with a focus on logistics, industrial parks, and the manufacturing sector, for a total of Rs 10 crore.
The funds would be used by Evocus to fund its objectives for international growth. The nation’s first and fastest-growing black water brand is the D2C company from Gujarat. It is offered through both offline and online channels and is present in more than 50 cities. The idea is to now spread internationally to ten or so nations.
Parry Singh, CEO of Red Fort Capital Finance, commented on the company’s decision to support Evocus, saying, “The black water or alkaline water is witnessing a massive surge in demand after top celebrities were spotted using it. Because of its health advantages, it is popular all over the world, and Evocus has the first-mover advantage in India. The company has ambitious plans to expand internationally, and we at Red Fort Capital Finance are always excited to support such fast-growing businesses.
Red Fort Capital Finance successfully completed all the procedures after careful due diligence and disbursed the entire capital to Evocus in just 7 days.”Red Fort Capital fulfilled our request for a quick delivery exactly as we had asked of them. One of the smoothest encounters to date, “added Evocus’s founder and managing director, Aakash Vaghela.
Deals that provide a strong collateral cover and increase business cash flow are what Red Fort Capital Finance looks for. The NBFC handles transactions ranging in size from Rs 1 to Rs 10 crore and has a solid, well-diversified book with no NPAs.
Red Fort Capital Finance is a rapidly expanding NBFC that finances growth-oriented credit to industrial end users near growth enablers like ports, inland container depots, labour availability, and locations with excellent connectivity and is backed by suitable cashflow/collateral.
Parry Singh, a serial entrepreneur who has built over 9 businesses, founded Red Fort Capital Group. In addition to its market-leading private equity funds, Red Fort Capital also operates a regulated NBFC in India and a Principal Investing Group with a focus on international markets.
The NBFC is looking for financing deals between Rs. 1 Cr and Rs. 10 Cr.
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