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Yenmo raises Rs 9.2 Cr led by Y Combinator

EntrackrEntrackr · 5m ago
Yenmo raises Rs 9.2 Cr led by Y Combinator
Medial

Yenmo, which provides instant loans against mutual funds, has raised Rs 9.2 crore in a funding round led by Y Combinator, with participation from Pioneer Fund, Zaka VC, and other angel investors. The proceeds will be utilized to expand product offerings, enhance technology, drive market growth, and strengthen operational scale and the team, Yenmo said in a press release. Co-founded in 2022 by Ashutosh Purohit and Aryan Agarwal, Yenmo is dedicated to providing the best credit products in India. Starting with loans against mutual funds, it is expanding into secured credit products over stocks, insurance, and digital assets. Customers can access loans digitally through the Yenmo app, available on Android and iOS. The Bengaluru-based startup aims to make loans a tool for empowerment. As the company adds new products, its commitment to ethical practices will remain at the forefront of its design and delivery. Yenmo is addressing gaps in the lending industry by offering loans against mutual funds with interest rates as low as 10.5%, significantly lower than the 30%+ charged on personal loans. The platform designs solutions based on customer feedback to eliminate pain points, supported by real human assistance rather than automated bots. Yenmo plans to introduce new secured lending products, including loans against stocks and other financial instruments. It also offers a savings account feature that combines higher interest earnings with liquidity access. The company has built and refined its digital platform to provide a seamless 10-minute loan application process, ensuring security and efficiency.

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Decentro raises Rs 30 Cr in Series B, to shift domicile to India

EntrackrEntrackr · 2m ago
Decentro raises Rs 30 Cr in Series B, to shift domicile to India
Medial

Decentro raises Rs 30 Cr in Series B, to shift domicile to India Y-Combinator-backed fintech startup Decentro has raised Rs 30 crore in its Series B funding round led by InfoEdge Ventures, with participation from Stargazer Growth and existing investors such as Uncorrelated Ventures. Entrackr has exclusively reported the Series B round recently. The proceeds will be used to grow enterprise adoption, expand product capabilities, and strengthen go-to-market efforts across financial institutions. Co-founded by Rohit Taneja and Pratik Daudkhane, Decentro’s offerings cover consumer and business verification, payment infrastructure for collections and disbursals, and AI-driven debt recovery systems. The API banking platform, which processes over Rs 50,000 crore in annual payment volumes, plans to shift its parent entity from Singapore to India within the next 12 to 18 months. The company claims to be profitable and serves more than 1,300 businesses including NBFCs, digital lenders, banks, and fintech firms. Recently, it launched Scanner, a real-time risk assessment engine, and Neobot, a multilingual AI voice agent focused on debt collections. As per TheKredible, Decentro reported a 47% year-on-year increase in operating revenue to Rs 17.7 crore in FY24 from Rs 12 crore in FY23. However, the company slipped into a loss of Rs 2.46 crore during the same period, after posting a profit in the previous fiscal.

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