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Frendy raises Rs 2 Cr in debt from UC Inclusive Credit

EntrackrEntrackr · 1y ago
Frendy raises Rs 2 Cr in debt from UC Inclusive Credit
Medial

Retail tech small format grocery chain Frendy has raised Rs 2 crore or about $239K in a debt round led by UC Inclusive Credit. The startup has collectively raised a total of Rs 42 crore to date including the debt. Frendy’s existing investors include Auxano Capital, AT Capital (Singapore), Desai Ventures, Let’s Venture, MARV Capital (New York), and Metara Ventures (Singapore) The proceeds will be used to fund its central inventory needs to feed its network of Frendy Marts & Micro Kiranas in tier III towns of Gujarat The firm claims to have a revenue of Rs 82 Cr for FY23 and aims to double its sales in the next 12 months as the brand expands its geographical footprint. Founded in 2019 by Sameer Gandotra, Frendy is building a network of modern neighbourhood grocery mini marts for consumers in small towns and villages of India. Ahmedabad-based Frendy currently operates 25 marts and 2,000 micro kiranas across rural Gujarat. It aims to scale it’s business to 100 marts and 3,000 micro kiranas in the next 12 months. Frendy’s marts are also digitally connected to a cluster of micro-kiranas (mom-and-pop stores) and their end customers, allowing Frendy to build a last mile digital commerce bridge to serve a wider range of rural consumers.

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Fintech startup Care.fi secures Rs 8 Cr in debt

EntrackrEntrackr · 1y ago
Fintech startup Care.fi secures Rs 8 Cr in debt
Medial

Healthcare-focused fintech startup Care.fi has raised Rs 8 crore in debt capital, securing Rs 5 crore from Wint Wealth and Rs 3 crore in impact debt capital from Caspian The Gurugram-based company had previously raised $2 million (Rs 16 crore) in debt capital from Trifecta Capital, along with an additional $0.6 million (Rs 5 crore) from UC Inclusive Credit three months ago. The fresh funds will be used to ramp up its presence in the market and invest in the betterment of healthcare fintech especially for optimizing the operational end of hospital management, Care.fi said in a press release. Co-founded in 2021 by Sidak Singh and Vikrant Agarwal, Care.fi is a fintech company offering smart financing solutions to hospitals, doctors, and allied suppliers. It bridges the gaps in funding within the healthcare industry. The company addresses the financial needs of healthcare professionals and institutions, facilitating smoother operations and accelerated growth. According to Care.fi, it is currently working with more than 50 hospitals and has helped over 2,000 patients. It claims that its total disbursals increased by 4x, with cumulative disbursals of $48 million (Rs 400 crore) last year. Care.fi has also received an NBFC license within two years of operation. Other major players in this space are CarePay, SaveIn, and Bajaj Finserv Health.

BlackSoil Capital raises Rs 200 Cr from Impact Fund Denmark

EntrackrEntrackr · 1d ago
BlackSoil Capital raises Rs 200 Cr from Impact Fund Denmark
Medial

BlackSoil Capital has raised Rs 200 crore (around $22 million) in debt funding from Impact Fund Denmark, the Danish development finance institution, to scale climate-aligned and inclusive lending across India’s MSME ecosystem, emerging corporates and financial institutions. The facility will primarily support climate adaptation and mitigation initiatives, while expanding access to credit for low-income communities and underserved segments of the economy. A significant portion of the capital will be directed toward climate-aligned enterprises and financial institutions, especially in Tier 2 and Tier 3 markets, with a focus on women-led businesses in structurally underserved sectors. The funding will enable BlackSoil to increase its exposure to renewable energy adoption, climate-smart agriculture, sustainable supply chains, circular economy solutions and inclusive finance models. Impact Fund Denmark invests in developing and emerging markets to promote green, just and inclusive societies, backing businesses aligned with measurable development outcomes and the UN Sustainable Development Goals. The investment strengthens BlackSoil’s ability to channel institutional capital into India’s underserved “missing middle” credit segment, businesses that are too large for microfinance yet not adequately served by traditional banks.

Healthcare focused fintech startup Care.fi raises $2.6 Mn

EntrackrEntrackr · 1y ago
Healthcare focused fintech startup Care.fi raises $2.6 Mn
Medial

Healthcare focused fintech startup Care.fi has raised $2 million (Rs 16 crore) in debt capital from Trifecta Capital as well as an additional $0.6 million (Rs 5 crore) from UC Inclusive Credit. The proceeds will be allocated towards scaling its book size, expansion, enhancing the business, and strengthening the team size, Care.fi said in a press release. Co-founded in 2021 by Sidak Singh and Vikrant Agarwal, Care.fi is a fintech company offering smart financing solutions to hospitals, doctors, and allied suppliers. It bridges the gaps in funding within the healthcare industry. The company addresses the financial needs of healthcare professionals and institutions, facilitating smoother operations and accelerated growth. The Gurugram-based company claims to work with more than 50 hospitals and helped over 2,000 patients. It also claims that its total disbursals increased by 4x, with cumulative disbursals of $48 million (Rs 400 crore). Care.fi has also received an NBFC licence within two years of operation. Other major players in this space are CarePay, SaveIn, and Bajaj Finserv Health.

Care.fi secures Rs 7.5 Cr in debt from Vivriti Capital

EntrackrEntrackr · 11m ago
Care.fi secures Rs 7.5 Cr in debt from Vivriti Capital
Medial

Care.fi secures Rs 7.5 Cr in debt from Vivriti Capital Healthcare-focused fintech startup Care.fi has secured Rs 7.5 crore in debt capital from Vivriti Capital. This latest investment follows its previous funding rounds, which included Rs 8 crore in debt capital raised from Wint Wealth and Caspian, along with $2.5 million (around Rs 21 crore) in debt from Trifecta Capital and UC Inclusive Credit. In total, the group has raised approximately Rs 29 crore to date. The fresh funding will be utilized to accelerate its aim to empower Revenue Cycle Management (RCM) for hospitals and expand the reach of RevNow, Care.fi said in a press release. Co-founded in 2021 by Sidak Singh and Vikrant Agarwal, Care.fi aims to weed out the hassles of insurance claims, which remain a complex challenge for hospitals, often leading to delayed discharges, revenue leakages, and operational inefficiencies. According to the Gurugram-based company, its AI-driven RCM platform, RevNow, is making a significant impact by expediting claim settlements and ensuring hospitals receive payments within 3–5 days post-discharge. It enables 30-minute patient discharges by automating final billing and approvals, drastically reducing wait times. RevNow optimizes hospital workflows with real-time query notifications, automated responses, and integrated mailing services. It also enhances financial transparency by providing real-time reconciliation of cash flows at the entity, unit, and claim levels, offering hospitals greater visibility. “Since our inception, we have focused on solving critical operational pain points in hospital revenue management. With RevNow, we are setting new benchmarks in claims processing efficiency. This latest funding will enable us to scale further, helping hospitals optimize financial workflows while ensuring better patient experiences. As the healthcare ecosystem grows, we aim to continue innovating and improving revenue realization for providers,” said Sidak Singh, co-founder of Care.fi. Care.fi claims that it is handling over Rs 800 crore in claims across over 300 hospitals and auditing more than 50,000 claims. The platform also aims to expand RevNow’s capabilities and integrate further with hospital information systems (HIS), electronic health records (EHR), and billing platforms.

Prashant Pitti’s Optimo Capital raises Rs 100 Cr from PNB

EntrackrEntrackr · 1d ago
Prashant Pitti’s Optimo Capital raises Rs 100 Cr from PNB
Medial

Prashant Pitti’s Optimo Capital raises Rs 100 Cr from PNB Optimo Capital, a technology-led NBFC focused on MSME lending, has secured Rs 100 crore in debt funding from Punjab National Bank and entered into a co-lending partnership with Godrej Finance Limited to disburse Rs 200 crore over the next 12 months. The development comes six months after the company raised Rs 150 crore in equity funding led by Blume Ventures and Omnivore, with participation from founder Prashant Pitti. Optimo offers digital secured loan-against-property (LAP) products for MSMEs, targeting borrowers who face challenges in accessing formal credit despite owning collateral. Its lending infrastructure is built on a dataset of over 77 lakh mortgage and property transaction records, along with AI-led property inspection and valuation systems. The platform also enables in-principle loan sanctions within a few hours. The company currently manages over Rs 430 crore in assets under management and maintains gross NPAs below 0.7%. It has been profitable for the past 22 months, generating monthly profits in the range of Rs 2–3 crore. Optimo recently received a BBB (Stable) rating from CARE Ratings. Optimo operates 51 branches across Karnataka, Tamil Nadu, Telangana, Andhra Pradesh, and Madhya Pradesh, focusing on MSME borrowers in semi-urban and rural markets. It employs over 500 people across functions. The partnership with Godrej Finance is expected to expand Optimo’s lending capacity, while the debt infusion from Punjab National Bank will support balance sheet growth.

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