LEAP India plans to raise 100 crore debt to expand wooden pallet capacity

Vastavam web:  City-based supply chain solutions company LEAP India plans to raise Rs 100 crore through debt to expand wooden pallet capacity and increase its footprints.”We have raised around Rs 110 crore last year through Series B funding from existing as well as new investors. We are now looking at raising around Rs 100 crore through bank loans to meet our capital expenditure plans,” LEAP India Managing Director Sunu Mathew told today.Earlier, the company had raised funding from Mayfield and Rishabh Mariwala. The company also saw participation from new investors like IndiaNivesh Growth Fund, Sixth Sense and TCI Ventures.

Founded in July 2013, LEAP is fast expanding its customer base, pan-India network and technological capability in the business of renting and pooling wooden pallets and foldable large containers.We now plan to expand the capacity to three million pallets by 2020, Mathew said.With the new investments and growing demand from customers, the company expects its revenue to touch Rs 100 crore this fiscal from Rs 37 crore logged last year and it aims to achieve turnover of Rs 280 crore by 2020, he added.