🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

Exclusive: Eduvanz secures bridge round at 35% lower valuation

EntrackrEntrackr · 7m ago
Exclusive: Eduvanz secures bridge round at 35% lower valuation
Medial

Exclusive: Eduvanz secures bridge round at 35% lower valuation Education loan provider Eduvanz has secured Rs 25.52 crore in a bridge funding round co-led by Juvo Ventures and Capria Fund, with additional participation from Peak XV and Unitus Ventures. Eduvanz's board has approved a special resolution to issue 26,405 preference shares at an issue price of Rs 9,667 each, raising Rs 25.52 crore, according to a regulatory filing accessed from the RoC. Capria Fund and Juvo Ventures contributed Rs 8.65 crore and Rs 8.57 crore, respectively, while Peak XV and Unitus Ventures invested Rs 4.28 crore and Rs 4 crore. According to the filings, the newly raised funds will be utilized for working capital, product development, and marketing initiatives. Entrackr estimates Eduvanz's post-allotment valuation at approximately Rs 551 crore, reflecting a 35% decline from its last extended Series B round, where the company was valued at Rs 850 crore. Eduvanz provides loans to students to finance their school, coaching, and test prep fees. Salaried and self-employed individuals can also seek loans from it to fund their up-skilling expenses. After the bridge round, Peak XV Partners will hold a 31.72% stake in the company, while Juvo Ventures and Capria Fund will own 4.89% and 3.14%, respectively. The new funding is coming after a gap of more than two years for Eduvanz. In December 2022, it scooped up $12.6 million in its extended Series B round from new and existing backers. Entrackr exclusively reported the development. Eduvanz competes with well-funded firms such as Grayquest, Avanse Financial, Financepeer, Propelld, Leap Finance, and Auxilo.

5

Related News

Exclusive: Stanza Living secures debt from Alteria and Innoven Capital

EntrackrEntrackr · 1m ago
Exclusive: Stanza Living secures debt from Alteria and Innoven Capital
Medial

Exclusive: Stanza Living secures debt from Alteria and Innoven Capital Managed accommodation provider Stanza Living secured Rs 60 crore (approximately $7 million) in debt funding from Alteria Capital and Innoven Capital. Previously, Stanza Living raised Rs 110 crore ($13 million) in a bridge round led by Alpha Wave, as exclusively reported by Entrackr. The Stanza Living’s board issued 6,000 non-convertible debentures at a face value of Rs 1,00,000 each to raise the above-mentioned amount, its regulatory filing accessed from the Registrar of Companies (RoC) shows. Alteria Capital invested Rs 35 crore ($4.1 million) while Innoven Capital contributed with Rs 25 crore ($2.9 million) in the round. Founded in 2017, Stanza Living is a managed accommodation startup that offers hassle-free living for students and young professionals moving to new cities. The company claims to have over 75,000 beds across 24 cities in India. The Delhi-based startup has raised over $240 million to date across multiple debt and equity rounds from investors such as Alpha Wave, Peak XV Partners, Accel, and Z47, according to startup data intelligence platform TheKredible. The Accel-backed company is yet to file its financials for FY24 and FY25. In FY23, its revenue rose to Rs 442 crore from Rs 115 crore in FY22, while losses widened 18.71% to Rs 495 crore during the same period. Stanza Living competes with Your-Space, which recently raised Rs 70 crore in debt, and Truliv, which entered into a strategic equity partnership with Bennett, Coleman and Company Limited (BCCL). Other competitors include Colive, Settl, Union Living, and Coho.

TraqCheck raises bridge round at $17 Mn valuation

EntrackrEntrackr · 8d ago
TraqCheck raises bridge round at $17 Mn valuation
Medial

Snippets TraqCheck raises bridge round at $17 Mn valuation TraqCheck, an AI enterprise startup focused on HR systems, has raised a bridge round at a $17 million valuation, for an undisclosed amount. The round was led by angel investors Alok Oberoi (Chairman, Everstone Capital) and Siddharth Mehta (Founder, Bay Capital), with participation from Sivaramakrishnan S. Iyer (Advisor, Bay Capital). The proceeds will be used to scale its background verification product in India and Europe, launch new AI-based HR tools, and strengthen teams in product, engineering, and growth. Founded by Jaibir Nihal Singh, Armaan Mehta, and Rishabh Jain, TraqCheck builds AI agents for enterprises, starting with background verification. Its product uses deterministic LLM frameworks to automate screening processes and reduce turnaround times, helping HR teams improve compliance and efficiency. It has scaled across India and recently expanded into Europe. TraqCheck raised its last round in 2023 at a $14 million valuation. Since then, it has grown rapidly, serving over 200 enterprise clients across BFSI, staffing, healthcare, and the gig economy. The firm is targeting a 3x revenue increase in 2025 as demand for automated HR solutions rises. TraqCheck competes with global background verification and HR tech players like HireRight, First Advantage, and Checkr.

Education-focused NBFC Auxilo secures $6 Mn debt

EntrackrEntrackr · 1y ago
Education-focused NBFC Auxilo secures $6 Mn debt
Medial

Education-focused NBFC Auxilo has raised Rs 50 crore (approximately $6 million) in non-convertible debt from AK Capital Finance. This marks the first fundraise of the Mumbai-based company in 2023. The board at Auxilo has approved the allotment of 5,000 non-convertible debentures (NCDs) at an issue price of Rs 1,00,000 each for a consideration of Rs 50 crore, the company’s regulatory filings with the Registrar of Companies show. The offer also includes an option for an additional subscription (green shoe option) of Rs 25 crore which will take the total to Rs 75 crore. Established in 2017, Auxilo offers student loans for pursuing education within India or abroad. It also extends loans to educational institutions for infrastructure and working capital requirements. Auxilo has raised over $100 million across equity and debt since its inception and it competes with well-funded firms such as Grayquest, Avanse Financial, Financepeer, Propelld, Leap Finance, and Eduvanz. In July last year, Auxilo scooped Rs 470 crore in a funding round led by Tata Capital. As per the startup intelligence platform TheKredible, the company raised that capital at a post-money valuation of around $250 million. Post-allotment of the round, Tata Capital owns 10.58% shares in the company while ICICI Bank has a 9.34% stake. For a complete shareholding pattern, visit here. Auxilo’s revenue from operations grew 2X to Rs 178 crore in FY23 from Rs 87 crore in FY22 (the revenue includes net gain on fair value worth Rs 4.4 crore in FY23 and Rs 1.4 crore in FY22). It primarily makes money through processing fees, interest received on loan disbursements and commissions. As per TheKredible, the company’s profits also surged two-fold to Rs 25.7 crore during the year from Rs 12.4 crore in FY22. As of July 2023, Auxilo claims to have funded over 7,500 students across over 900 universities in over 25 countries. During FY22, the company’s loan book (asset under management) stood at Rs 769 crore comprising education loans of Rs 605.70 crore (78.73%) and institute loans worth Rs 163.60 crore (21.27%). While the company did not provide the breakup for FY23, its loan book stood at Rs 1,691 crore in the previous fiscal year.

Download the medial app to read full posts, comements and news.