Asset Financing Company ORIGA Leasing Gets Rs.7 Cr from ah! Ventures, 500 Startups and Others

Asset Financing Company ORIGA Leasing Gets Rs.7 Cr from ah! Ventures, 500 Startups and Others

Asset Financing Company ORIGA Leasing Gets Rs.7 Cr from ah! Ventures, 500 Startups and Others, Shown Above: ORIGA’s Team

Mumbai-based ORIGA Leasing, an asset financing company has raised Rs.7 crore from ah! Ventures, 500 Startups and other investors across sectors. The fund raised will be used towards leasing of assets, people and technology. Both ah! Ventures and 500 Startups invested in ORIGA through the CLUB ah! platform.

The company expects to touch an asset book for $100 million within the next three to four years just in India. ORIGA Leasing was started by Shrirang Tambe in May 2013 with a core philosophy of ‘Access to Finance’. It provides alternative financing through its asset leasing solutions to companies across segments such as healthcare, sanitation, waste management, alternative energy, manufacturing and service oriented businesses.

The firm focuses mainly on leasing of assets which generate revenues for its clients. It has developed a solution of Asset Life Cycle Management (ALCM) which helps its clients conserve their capital for working capital and marketing, while ORIGA takes care of their assets in totality. Thus, the internal accruals and leasing funds the next expansion plan.  

According to industry reports, the market for alternative financing is conservatively estimated to be $50 billion. There is a huge gap between the conventional financing available and the need of new age companies. In fact the market opportunity is huge considering that 46% of the SME financing in Europe and 72% of SME financing in America takes place through asset leasing. In India, it is less than 1% of the total credit disbursed.

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“ORIGA is an innovative business model that would immensely help mid size entrepreneurs gain access to much needed funding,” said Ulhas Deshpande, Investor and Board member ORIGA.

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