Arka Credit Fund I has recently disclosed its investment in the non-convertible debentures (NCDs) issued by Everest Fleet, a significant fleet supplier operating in India, with notable partnerships including Uber and Ola.
While the exact investment amount has not been revealed, the capital infusion from Arka Credit Fund is set to fuel Everest Fleet’s growth ambitions. The Mumbai-based company aims to bolster its fleet portfolio, with a target of exceeding 17,000 vehicles by March 2024. Presently, Everest Fleet boasts a fleet of approximately 10,000 cars spread across seven major metropolitan regions in India.
Sonit Singh, Director at Arka Investment Advisory Services Private Limited, which oversees Arka Credit Fund, expressed, “The investment in Everest Fleet aligns with our investment philosophy of partnering with credible mid-market players, by providing them access to sustainable capital in their overall growth journey,”