Brick And Byte Raises INR 10 Crore Debt From MSME Lender Red Fort Capital Brick and Byte said it is looking to double its revenue with the infusion of this debt into their working capital, effectively absorbing their excess capacity and scaling over the next few years
By Teena Jose
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MSME lender Red Fort Capital on Friday announced it has backed sheet metal fabricator Brick and Byte Innovative Products with INR 10 crore debt to support their working capital requirements.
Based in Navi Mumbai, Brick and Byte Innovative Products claims that it has corporate customers including Bharat Electronics India, EON Global, Vertiv Energy, Tokheim, and more.
"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 INR 10 crore," said Parry Singh, founder and CEO, Red Fort Capital.
Founded by Parry Singh, Red Fort Capital Finance is an RBI registered Investment Grade NBFC, specializing in providing quick Business loans to Micro, Small and Medium Enterprises (MSME).
Furthermore, in an official statement, Brick and Byte said it is looking to double its revenue with the infusion of this debt into their working capital, effectively absorbing their excess capacity and scaling over the next few years.
"I needed funds to further expand my business 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 Prashant Kamat, promoter, Brick and Byte Innovative Products.
Brick and Byte offers integrated engineering Services from concept to manufacturing in embedded and mechanical engineering domains including mechanical designing, manufacturing, embedded designing and electronic manufacturing.
