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GoodScore raises $13 Mn in Series A round led by Peak XV

EntrackrEntrackr ยท 1d ago
GoodScore raises $13 Mn in Series A round led by Peak XV
Medial

GoodScore, a Bengaluru-based fintech startup, has raised $13 million in Series A funding led by Peak XV Partners, with participation from Stellaris Venture Partners and Saison Capital. The proceeds will be used to expand its AI systems, add product and engineering talent, and grow its credit marketplace that connects borrowers and lenders. Founded in 2023 by Sanchit Bansal, GoodScore helps users track and manage their credit health using data and AI-driven tools. It provides a single platform that connects credit bureau data, bank transactions, and spending records to help users monitor their credit scores, manage payments, and understand their borrowing patterns. The platform also offers score improvement guidance and dispute support. Since launch, GoodScore claims to have recorded millions of users across India. It partners with HDFC Bank, KreditBee, and Tata Capital to provide credit-related services. The company began monetizing its operations in FY24 and its operating revenue surged to Rs 2.5 crore from almost nil in FY23. However, the firmโ€™s losses also expanded significantly, increasing 7.7 times to Rs 7 crore in FY24.

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Exclusive: Peak XV to lead new round in GoodScore parent

EntrackrEntrackr ยท 7m ago
Exclusive: Peak XV to lead new round in GoodScore parent
Medial

Exclusive: Peak XV to lead new round in GoodScore parent Arthvit 1809 Tech Pvt. Ltd, the parent company of Rupicard and GoodScore, is all set to raise $15-20 million in a fresh funding round, sources aware of the development told Entrackr. "Peak XV is leading a $15 million investment in Arthvit 1809 Tech (parent of GoodScore and Rupicard), with participation from existing investor Stellaris. The terms of the deal have been finalized, and the company is expected to announce it in the coming weeks," said a source familiar with the matter, requesting anonymity. Founded in 2022 by Rakshit Agarwal and Sanchit Bansalโ€‹, GoodScore helps users improve their credit scores to 750 and above. It provides monthly tracking, detailed reports, and expert guidance. Its core product Rupicard offers a secured credit card linked to a fixed deposit (FD), allowing users to build or improve their credit scores. Users can open an FD starting from Rs 5,000 and receive a credit limit equal to 90% of their deposit. Queries sent to Peak XV and Bansal didnโ€™t elicit an immediate response. Last year, Bajaj Markets, a Bajaj Finserv subsidiary, partnered with Rupicard to expand credit card access across India. Arthvit 1809 Tech (parent company of Rupicard and Goodscore) is backed by Stellaris Venture Partners, Saison Capital, and Sprint VC, as per PitchBook's data. Interestingly, Peak XV is already an investor in OneCard, which operates OneScore, a similar app to GoodScore. The Anurag Sinha-led company is a unicorn, and Peak XV is its largest stakeholder. Arthvit 1809 Tech began monetizing its operations in FY24 and its operating revenue surged to Rs 2.5 crore in the last fiscal year from Rs 4 thousand in FY23. Collection from services was the sole source of the companyโ€™s revenue in the last fiscal year. However, the firmโ€™s losses also expanded significantly, increasing 7.7 times to Rs 7 crore in FY24.

Scapia raises $40 Mn in Series B led by Peak XV

EntrackrEntrackr ยท 6m ago
Scapia raises $40 Mn in Series B led by Peak XV
Medial

Scapia raises $40 Mn in Series B led by Peak XV Travel fintech company Scapia has raised $40 million in its Series B round led by Peak XV Partners, with participation from existing investors, Elevation Capital, Z47, and 3State Ventures. The funding will enable Scapia to strengthen its team, enhance its product offerings, harness the power of AI, and accelerate its ambitious growth plans, Scapia said in a press release. According to the companyโ€™s regulatory filings, it has secured Rs 289 crore ($34 million) so far, with the remaining funds expected soon. In this round, Peak XV Partners took the lead, investing Rs 218 crore ($25.6 million), followed by Elevation Capital with Rs 62.28 crore ($7.3 million) and 3State Ventures contributing Rs 8.65 crore ($1.02 million). According to a separate resolution, the Bengaluru-based company also expanded its ESOP pool by 3,460 ESOP options. The newly added ESOP will be valued at Rs 22 crore, while the total pool now stands at Rs 132 crore (approximately $15.5 million). Entrackr estimates that the companyโ€™s post-money valuation stands at Rs 1,645 crore or $193.5 million. The valuation may vary after completion of the round. Founded by Anil Goteti, Scapia operates as a fintech-travel platform, offering a lifetime-free credit card with travel rewards. It generates revenue through interchange fees, interest on EMIs, and partner commissions from travel bookings. Scapiaโ€™s co-branded card with Federal Bank offers great value with no joining or annual fees, zero forex markup, and free unlimited domestic lounge access and airport perks based on monthly spending. Cardholders get 10% rewards on all purchases and 20% rewards on travel bookings made through Scapia. Scapia has raised over $70 million to date, including its $23 million Series A round led by Elevation Capital and 3State Ventures in November 2023. According to startup data intelligence platform TheKredible, Peak XV Partners became the largest external shareholder with a 13.74% stake, followed by Matrix Partners at 13.68%. Its FY24 appeared to be the first operational year, recording a revenue of Rs 17 crore while incurring a loss of Rs 88 crore during the same period. The company competes with the likes of One Card, which posted Rs 1,425 crore revenue, and Zolve, which stood at a revenue of Rs 67.8 crore in the fiscal year ended March 2024.

Sweet Karam Coffee raises $8 Mn led by Peak XV

EntrackrEntrackr ยท 6m ago
Sweet Karam Coffee raises $8 Mn led by Peak XV
Medial

Sweet Karam Coffee Raises $8 Mn Led by Peak XV Chennai-based South Indian food brand Sweet Karam Coffee (SKC) has raised $8 million in its Series A round led by Peak XV Partners, with existing investor Fireside Ventures also increasing its stake. The funding comes almost two years after Sweet Karam Coffee raised $1.5 million from Fireside Ventures. The proceeds will be used to expand its distribution, launch new products, and improve its supply chain with tech. Founded in 2015, SKC is known for its authentic sweets, snacks, and filter coffee, which is made without palm oil, preservatives, or maida. It also sells condiments and ghee. The startup sells its products via its website, e-commerce marketplaces, and quick commerce platforms, serving customers across 32 countries. SKC claims to have grown 4X in revenue over the past 12 months and is projected to grow another 2.5X in the next 12 months. SKC announced the appointment of Nandhitha Indermohan (ex-Unilever) as Chief Operating Officer to boost execution.

Arintra raises $21 Mn in Series A round led by Peak XV

EntrackrEntrackr ยท 2m ago
Arintra raises $21 Mn in Series A round led by Peak XV
Medial

Arintra raises $21 Mn in Series A round led by Peak XV Medical coding platform Arintra has raised $21 million in a Series A round led by Peak XV Partners, with participation from Endeavor Health Ventures, Y Combinator, Counterpart Ventures, Spider Capital, Ten13, and other strategic investors. The proceeds will be used to expand adoption across U.S. health systems and physician groups, accelerate product development, scale its team, and open a new Bay Area headquarters. Founded in 2020 by Nitesh Shroff and Preeti Bhargava, Arintra operates a GenAI-native autonomous medical coding platform for healthcare providers. Its system automates the translation of clinical documentation into accurate insurance codes while integrating clinical documentation improvement (CDI) and denials prevention into a single platform. The business model focuses on enabling providers to secure full, compliant reimbursement while reducing costs, improving claim accuracy, and accelerating cash flow. Arintra follows an enterprise SaaS model, integrating with EHR systems like Epic and Athena to operate within existing workflows. โ€œReimbursement in healthcare is fundamentally broken. Payers are moving fast, using policy and technology to shift more burden onto providers, but autonomous coding hasn't kept up,โ€ said Shroff, CEO of Arintra. โ€œWe built Arintra to help healthcare providers secure compliant revenue at scale while easing the burden on frontline teams.โ€ The firm targets large health systems, hospitals, and physician groups, offering measurable ROI through its revenue assurance approach.

Lab-grown diamond brand Aukera raises $15 Mn led by Peak XV

EntrackrEntrackr ยท 3m ago
Lab-grown diamond brand Aukera raises $15 Mn led by Peak XV
Medial

Lab-grown diamond jewellery brand Aukera has secured $15 million in its Series B funding led by Peak XV Partners. Existing investors Fireside Ventures, Sparrow Capital, Prath Ventures, and Alteria Capital have also participated in the round. Earlier in August last year, Aukera had raised Rs 26.7 crore (approximately $3.2 million) in its Series A financing led by Fireside Ventures. Entrackr had exclusively reported the development. The proceeds will help Aukera grow its retail presence, improve its products, and strengthen its position in Indiaโ€™s fine jewellery market. Founded two years ago by Lisa Mukhedkar and Kumar Saurabh, Aukera has 13 stores in cities such as Bengaluru, Delhi NCR, and Hyderabad. The brand plans to enter more cities and aims to become a Rs 1,000 crore brand in the next five to seven years. Aukera focuses on selling high-quality, lab-grown diamonds set in fine jewellery. It targets women who want better designs and bigger diamonds without the high costs of mined stones. The Bengaluru-based firm competes with a clutch of firms including Fiona Diamonds, Limelight Lab Grown Diamonds, True Diamond, COLUXE, and Jewelbox. Aditya Birla-backed GIVA also offers a lab-grown diamond jewellery line.

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