[Funding alert] Network as a Service (NaaS) Provider CloudExtel Secures Rs 200 Cr Debt

The first external debt finance of Rs 200 crore was secured by network-as-a-service (NaaS) provider CloudExtel.

This investment by well-known lenders is a reflection of their confidence in the long-term stability, exceptional governance, and scalability of this innovative NaaS (Network as a Service) concept.

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Commenting about this development, Kunal Bajaj, CEO and Co-Founder, CloudExtel, said “India’s digital landscape is poised for substantial growth with emerging technologies set to revolutionise the ecosystem. This partnership with NIIF IFL and ABFL, marks a significant step in our journey as the debt capital infusion will now be complementary to the investment by Macquarie Capital and Advencap. The credit rating also substantiates our emphasis on world-class governance and financial stability. The combined capital will strengthen our position to effectively respond to market opportunities as we expand our deployment in network infrastructure to transform the telecom space.

This rating comes as the company secures its first external debt of INR 150 crores from NIIF IFL (“NIIF Infrastructure Finance Limited”) and INR 50 crores from ABFL (“Aditya Birla Finance Limited”).

With this capital infusion, CloudExtel is poised to intensify its market presence in Fiber and Small Cells deployment. Their escalating need in India reflects the country’s expanding urbanisation and the surge in data consumption.

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In the previous financial year, CloudExtel secured equity investments from leading financial institutions including Macquarie Capital and Advencap. This first-of-a-kind capital infusion from NIIF IFL and ABFL further bolsters the trust that these institutions have placed in the business and CloudExtel.

About CloudExtel

CloudExtel is a Network as a Service (NaaS) provider offering infrastructure services such as Small Cell Hosting, FTTH, Intra-City Fiber, and Virtualized Networks. It provides solutions to telecom operators, internet service providers, data centers, enterprises and large content providers for addressing the challenges emerging from the hyper-growth of data consumption in India.

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