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Bottomline: PremjiInvest-backed TVS Credit sustains healthy AUM growth in FY24

VCCircle

VCCircle · 11m ago

Bottomline: PremjiInvest-backed TVS Credit sustains healthy AUM growth in FY24

TVS Credit Services, the non-banking finance subsidiary of TVS Motor Company, achieved a 24% increase in assets under management (AUM) for FY24. With support from PremjiInvest, the company's AUM reached Rs 25,900 crore as of March 31st, up from Rs 20,900 crore the previous year. This growth can be attributed to expansion across various product categories.

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Bottomline: PremjiInvest-backed Mintifi shines in FY24 as profit, AUM jump

VCCircle

VCCircle · 1y ago

Bottomline: PremjiInvest-backed Mintifi shines in FY24 as profit, AUM jump

Supply-chain financing startup Mintifi, backed by PremjiInvest, experienced significant growth in profit and assets under management (AUM) in the fiscal year ending in March 2024. The company expanded its loan book, improved its net interest margin, and maintained good asset quality. Mintifi consists of the group holding company Mintifi Pvt. Ltd and its non-banking finance division. The startup's success highlights its strong performance and investor confidence in the company.

Bottomline: TPG-backed Grihum Housing's AUM tops $1 bn, asset quality worsens

VCCircle

VCCircle · 6m ago

Bottomline: TPG-backed Grihum Housing's AUM tops $1 bn, asset quality worsens

Grihum Housing Finance, backed by TPG, has achieved an assets under management (AUM) milestone of over $1 billion in the first half of the financial year starting April 2024. This growth positively influenced net profits for FY24 and the first half of FY25. However, there are concerns over the company's deteriorating asset quality, despite its financial advancements. The management, led by MD & CEO Manish Jaiswal, navigates these dual fronts of growth and challenges.

Bottomline: Insitor, Aarin-backed Unitus' impact-oriented lending arm crosses $100 mn AUM

VCCircle

VCCircle · 1y ago

Bottomline: Insitor, Aarin-backed Unitus' impact-oriented lending arm crosses $100 mn AUM

Insitor, the impact-oriented lending arm of UC Inclusive Credit, has reached an asset under management (AUM) of over $100 million. The company, formed in 2019 and supported by investors like Aarin Capital and Unitus Capital, focuses on providing capital to social startups through different debt instruments. Despite its growth, UC Inclusive Credit maintains a strong asset quality.

Bottomline: Gaja-backed Kinara Capital’s assets under management soar in FY24

VCCircle

VCCircle · 1y ago

Bottomline: Gaja-backed Kinara Capital’s assets under management soar in FY24

Small-business lender Kinara Capital, which is supported by investors such as Gaja Capital and the Michael and Susan Dell Foundation, has reported a 26% year-on-year growth in its assets under management (AUM) for nine months of FY24. The company's CEO, Hardika Shah, expressed confidence in Kinara Capital's growth trajectory and its ability to provide support for small businesses.

Bottomline: PE-backed SarvaGram breaks even, aims to double AUM in FY25

VCCircle

VCCircle · 1y ago

Bottomline: PE-backed SarvaGram breaks even, aims to double AUM in FY25

Maharashtra-based lender SarvaGram Fincare Pvt. Ltd has achieved breakeven and aims to double its assets under management (AUM) in the fiscal year 2025. The company has experienced rapid revenue growth and expanded its operations through various venture capital and private equity investments. SarvaGram focuses on serving the credit needs of rural households.

Bottomline: VC-backed digital lender Ring faces asset quality woes after strong growth

VCCircle

VCCircle · 8m ago

Bottomline: VC-backed digital lender Ring faces asset quality woes after strong growth

VC-backed digital lender Ring has experienced strong growth, with a 64% increase in revenue to Rs 1,700 crore. However, the company is now facing asset quality issues. Onemi Technology Solutions, the operator of Ring and NBFC Si Creva Capital Services, reported healthy growth in the last financial year. Ring's co-founders are Ranvir Singh and Krishnan Vishwanathan.

Bottomline: PE-backed lender Aviom aims to double AUM as profit, margin improve

VCCircle

VCCircle · 1y ago

Bottomline: PE-backed lender Aviom aims to double AUM as profit, margin improve

PE-backed lender Aviom India Housing Finance plans to double its assets under management (AUM) during the current fiscal year. The company recorded a 70% increase in AUM for the previous fiscal year and is also aiming to improve its profit and net interest margin. Aviom focuses on providing small-ticket home loans to individuals in rural and underserved areas.

Bottomline: Ambit Finvest AUM, net profit surge; asset quality slips

VCCircle

VCCircle · 8m ago

Bottomline: Ambit Finvest AUM, net profit surge; asset quality slips

Ambit Finvest, backed by Adar Poonawalla, saw an increase in both its asset under management (AUM) and net profit in the financial year ending March 2024. However, the company also experienced a decrease in the quality of its assets.

Bottomline: PE-owned Vistaar’s AUM crosses $500 mn, NPAs stay under control

VCCircle

VCCircle · 5m ago

Bottomline: PE-owned Vistaar’s AUM crosses $500 mn, NPAs stay under control

Vistaar Financial Services Pvt. Ltd, backed by private equity firm Warburg Pincus, successfully grew its assets under management (AUM) to over $500 million while maintaining controlled non-performing assets (NPAs). This growth highlights the company's effective strategy in expanding its portfolio without compromising asset quality. Under the leadership of MD and CEO Avijit Saha, Vistaar Finance continues to demonstrate robust financial management and operational efficiency, marking a significant achievement in the non-bank lending sector.

Bottomline: Lenskart reaps benefits of new stores, FY24 revenue up over 30%

VCCircle

VCCircle · 11m ago

Bottomline: Lenskart reaps benefits of new stores, FY24 revenue up over 30%

Eyewear retailer Lenskart Solutions Pvt. Ltd has reported a significant increase in revenue for fiscal year 2024. The company, backed by investors including PremjiInvest and KKR, saw a 34% rise in revenue due to the success of its new stores. Lenskart, an omnichannel retailer based in India, successfully turned around its operational business. The company is known for selling eyewear, including glasses and contact lenses.

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