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Arthan Finance raises Rs 50 Cr in Series B round

EntrackrEntrackr · 1y ago
Arthan Finance raises Rs 50 Cr in Series B round
Medial

Non-banking financial company (NBFC) Arthan Finance has raised Rs 50 crore ($6 million) from investors such as Incofin India Progress Fund and the Michael and Susan Dell Foundation. Till date, Arthan Finance has raised Rs 83 crore ($10 million). Previous funding rounds saw participation from the founders, angel investors, and the Michael & Susan Dell Foundation. The proceeds will be used to boost the firm’s expansion and technological progress. This will also help Arthan Finance grow its Assets Under Management (AUM), expand its geographic footprint, and invest in advanced AI and ML-based underwriting systems, the company said in a press release. Founded by Kunal Mehta, Arthan Finance is a new age lending tech NBFC specializing in loans for self-employed nano and micro entrepreneurs. The firm currently operates in Maharashtra, Odisha, Andhra Pradesh, and Telangana, providing growth capital to self-employed nano and micro enterprises in tier II, III, and IV cities. The company claims to have disbursed over Rs 500 crore to more than 20,000 borrowers, with loan amounts ranging from Rs 2,000 to Rs 20 lakhs.

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Exclusive: Fintech startup GrowXCD to raise Rs 200 Cr in Series B

EntrackrEntrackr · 6m ago
Exclusive: Fintech startup GrowXCD to raise Rs 200 Cr in Series B
Medial

Exclusive: Fintech startup GrowXCD to raise Rs 200 Cr in Series B NBFC startups GrowXCD Finance is set to kick off Series B round with Rs 200 crore ($22.7 million) led by Swiss-based Blue Earth Capital with participation from Prosus and existing investors including Lok Capital and UC Impower. Earlier this year, GrowXCD raised Rs 50 crore in its pre-Series B round from Lok Capital and UC Impower. The board at GrowXCD passed a resolution to approve the issue of 1,56,92,344 Series B CCCPS at an issue price of Rs 127.61 each to raise Rs 200.25 crore, according to its regulatory filing accessed from Registrar of Companies (RoC). Blue Earth Capital will lead the round with Rs 105 crore ($12 million), followed by Prosus with Rs 69.4 crore ($7.9 million). Existing investor Lok Capital will invest Rs 21.3 crore ($2.4 million), while UC Impower will join with Rs 4.26 crore and Anshul Agarwal with Rs 25 lakh. A separate filing showed an addition of 10,00,000 options worth Rs 12.76 crore to the ESOP pool, taking its total size to about Rs 43 crore. According to Entrackr’s estimates, the NBFC’s valuation has nearly tripled to around Rs 630 crore ($71.5 million), compared to Rs 215 crore in the previous round. Founded in 2022 by Arjun Muralidharan and Sathish Kumar Vijayan, GrowXCD extends credit to two key segments: micro, small and medium enterprises (MSMEs) and low-income households. Its offerings include small property-backed mortgage loans and short-term unsecured business loans. According to startup data intelligence platform TheKredible, the Chennai-based firm had raised around $12 million prior to this round. Following the latest allotment, Blue Earth Capital will hold 16.7% stake, Prosus 11.04%, while existing investor Lok Capital remains the largest shareholder with 30.84%. For the fiscal year ended March 2025, GrowXCD’s revenue jumped over 7X to Rs 27 crore from Rs 3.73 crore in FY24. During the same period, its losses also widened to Rs 8.17 crore.

EV financing startup Perpetuity Capital raises Rs 7 Cr

EntrackrEntrackr · 1y ago
EV financing startup Perpetuity Capital raises Rs 7 Cr
Medial

Perpetuity Capital, a fintech platform specializing in clean-tech mobility, has raised Rs 7 crore through Non-Convertible Debentures (NCDs) from N+1 Capital and RevX Capital. Perpetuity Capital plans to utilise these funds to enhance its lending capabilities and expand its loan book, particularly focusing on the regions of East India. This strategic move is aimed at promoting the adoption of environmentally friendly mobility solutions in these states. Led by Karamveer Dhillon, Perpetuity Capital helps delivery drivers and autorickshaw drivers avail finance to purchase electric vehicles for commercial use. In October 2023, Perpetuity Capital raised Rs 5 crore in debt from Clime Finance. In the electric vehicle financing space, Perpetuity Capital competes with Vidyut, Revfin, Finayo, Mufin Green Finance, OTO, evfin, and Hero FinCorp, among others. Revfin raised $14 million in Series B round led by Omidyar Network in December whereas Vidyut raised $10 million in February this year.

Electric Vehicle financing firm Mufin Green raises $5 Mn

EntrackrEntrackr · 2y ago
Electric Vehicle financing firm Mufin Green raises $5 Mn
Medial

Electric vehicle financing platform Mufin Green Finance has raised $5 million in a debt funding round led by BlueOrchard. Last month, Mufin raised Rs 140 crore (approximately $17 million) in a Series B round of equity funding, on top of Rs 530 crore raised in debt funding, last financial year. The funds will be utilised to propel its initiatives in the green and energy space, driving innovation, and facilitating sustainable development, Mufin said in a press release. Founded in 2016 by Kapil Garg, Mufin Green Finance provides financing options for EVs across two, three and four-wheelers. With a presence in 16 states across India, it has financed EVs worth over Rs 350 crore to date. Mufin claims to have recorded a 12-fold growth in just two years. The AUM for Mufin Green Finance stood at Rs 502 crore as of December 2023 and the company is expecting to close FY24 with an AUM of Rs 650-700 crore. In the electric vehicle financing space, Muffin competes with Revfin, Finayo, Vidyut, OTO, evfin, and Hero FinCorp, among others. Recently, Revfin raised $14 million in a Series B round led by Omidyar Network.

MS Dhoni-backed Garuda Aerospace raises Rs 100 Cr in Series B round

EntrackrEntrackr · 11m ago
MS Dhoni-backed Garuda Aerospace raises Rs 100 Cr in Series B round
Medial

MS Dhoni-backed Garuda Aerospace raises Rs 100 Cr in Series B round Drone technology startup Garuda Aerospace has raised Rs 100 crore ($11.6 million) in its Series B funding round led by Venture Catalysts (VCAT) at a post-money valuation of $250 million. Previously, the firm had raised $22 million in its Series A round led by Venture Capital firm SphitiCap in February 2023. The fresh proceeds will be used to scale up drone manufacturing, enhance production capabilities, and complete an R&D and testing center focused on defense drone technology. Founded in 2015 by Agnishwar Jayaprakash, Garuda has grown to a team of over 200 members and manufactures 30 drone types while offering 50 services. Garuda currently holds over 20 patents and operates a fleet of over 400 drones with 500 trained pilots across 84 cities. It serves clients including government agencies and major corporations such as TATA, Reliance, and Adani. It has also partnered with global companies like Lockheed Martin and Elbit Systems. As per TheKredible, Garuda Aerospace’s revenue from operations grew by 2.3X to Rs 110 crore in FY24 from Rs 47 crore in FY23. Its net profit reached Rs 16 crore in FY24, a 2.7X increase from Rs 6 crore in the previous year. Garuda competes with the likes of ideaForge, Aarav Unmanned Systems, Throttle Aerospace Systems, General Aeronautics, and Omnipresent Robot Tech in the drone manufacturing and drone-as-a-service (DaaS) segment across defense, agriculture, and industrial applications.

Burger Singh raises Rs 82 Cr in Series B round at Rs 520 Cr valuation

EntrackrEntrackr · 14d ago
Burger Singh raises Rs 82 Cr in Series B round at Rs 520 Cr valuation
Medial

Burger Singh raises Rs 82 Cr in Series B round at Rs 520 Cr valuation Homegrown burger chain Burger Singh has announced the closure of its Series B funding round at Rs 82 crore (nearly $9 million) at a valuation of Rs 520 crore ($56 million). The round was led by Artal Asia Pte Ltd and saw participation from a mix of new and existing investors such as Negen Undiscovered Value Fund, Aurum Rising India Fund, and others. Entrackr had exclusively reported about this round back in July last year. The company will use the fresh capital to strengthen the systems, processes, and infrastructure required to build India’s most scalable franchise-first restaurant growth platform, Burger Singh said in a press release. Burger Singh runs a hybrid model with both company-owned and franchise-led outlets, serving a range of burgers, momos, fries, beverages, and desserts. The chain currently has over 200 outlets across 75 cities and aims to scale its footprint to more than 1,000 outlets by 2026. “India has no shortage of entrepreneurs. What it lacks is enough high-quality operating platforms that allow those entrepreneurs to succeed in the restaurant business at scale. That is the gap we are solving,” said Kabir Jeet Singh, Founder and CEO of Burger Singh. The company has reported 50% year-on-year growth to Rs 117 crore in FY25 from Rs 78 crore in FY24. Meanwhile, the net losses of the firm shrank by 86% to Rs 3.86 crore in FY25. It competes with both global and local QSR chains (quick service restaurants) such as McDonald’s, Burger King, Wendy’s, Jumboking, Wat-a-Burger, Burgernama, and several others.

Wint Wealth raises Rs 250 Cr in Series B round

EntrackrEntrackr · 2m ago
Wint Wealth raises Rs 250 Cr in Series B round
Medial

Wint Wealth raises Rs 250 Cr in Series B round Debt investment platform Wint Wealth has raised Rs 250 crore (nearly $28 million) in a Series B funding round led by Vertex Ventures Southeast Asia & India. The round also saw participation from existing investors including Eight Roads Ventures, 3one4 Capital, Arkham Ventures, and Rainmatter. Last month, Entrackr had exclusively reported on the company’s Series B round and valuation. Prior to this round, Wint Wealth had raised about $22 million (Rs 173 crore) from investors including Eight Roads Ventures, Zerodha, 3one4 Capital, and Unitary Fund. The company last raised a $17 million Series A round. The proceeds will be used to scale the platform, expand product offerings, and strengthen its credit and compliance infrastructure. Wint Wealth is also expected to deepen partnerships with issuers and improve distribution of fixed-income products to retail investors. Founded in 2020, Wint Wealth allows retail investors to invest in fixed-income products such as corporate bonds, securitized debt instruments, and non-convertible debentures (NCDs) asset classes that were largely limited to institutional investors earlier. The firm operates as a SEBI-registered Online Bond Platform Provider, enabling individuals to access listed bonds digitally. The Bengaluru-based startup has been focusing on building a transparent and regulated marketplace for debt investments, as more retail investors look beyond equities and mutual funds for stable returns. Wint Wealth is yet to file its FY25 numbers. In FY24, the company posted Rs 17.2 crore operating revenue with a loss of Rs 18 crore. According to data compiled by Entrackr, Indian wealthtech startups raised over $634 million across 51 deals involving 39 startups during 2024 and 2025. However, the sector saw limited large-ticket rounds, with only six deals of $30 million or more.

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