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News on Medial
3one4 Capital-Backed Wint Wealth Acquires Ambium
Inc42
·
1y ago
Medial
Bengaluru-based fintech startup Wint Wealth Group has acquired a majority stake in Chandigarh-based non-banking financial company (NBFC) Ambium Finserve. The deal, which has received approval from the Reserve Bank of India, provides Wint Wealth Group with an NBFC license. Ambium Finserve has started wholesale lending operations under the brand name Wint Capital, focusing on lending to growth-stage NBFCs for onward lending. Wint Capital's loan book is expected to grow to INR 500 crore by the end of 2024. Wint Wealth Group, founded in 2020, helps customers navigate fixed deposits, corporate and sovereign gold bonds, and bond baskets.
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Wint Wealth bags NBFC licence after RBI clears Ambium acquisition
Economic Times
·
1y ago
Medial
Wint Wealth Group gains approval from the Reserve Bank of India (RBI) for the majority acquisition of NBFC Ambium Finserve. The newly launched Wint Capital, focusing on lending to growth-stage NBFCs and joint retail loans, plans to extend its current Rs 50 crore loan book to Rs 500 crore by 2024. Wint Capital aims to offer corporate bonds to retail investors, leveraging its NBFC license. Wint Wealth Group, backed by prominent investors, joins others like Jupiter, Cred, and Groww that obtained licenses through acquisition or fresh approvals.
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Exclusive: Wint Wealth Fires 20% Of Its Workforce
Inc42
·
1y ago
Medial
Fintech startup Wint Wealth has laid off around 20% of its workforce in a recent restructuring exercise. The layoffs impacted various departments, including marketing and sales. The company confirmed that this was part of a regular business performance evaluation. This development comes after Wint Wealth acquired a majority stake in NBFC Ambium Finserve. The company now holds an NBFC license and expects its loan book to grow to INR 500 crore by the end of 2024. Wint Wealth has previously raised $16 million in funding and has over 53,000 users on its platform.
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All In Capital unveils second early-stage VC fund, marks first close
VCCircle
·
3m ago
Medial
All In Capital, an early-stage venture capital firm, has launched its second fund, marking its first close nearly three years after finalizing its debut fund. The firm, known for backing startups like PierSight Space, MasterChow, and Wint Wealth, was co-founded by ex-upGrad executive Kushal Bhagia and former Stride Ventures partner. This new fund continues All In Capital's strategy to support promising early-stage ventures.
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Venture firm 3one4 Capital returns entire first fund capital to sponsors
Economic Times
·
4m ago
Medial
Early-stage venture firm 3one4 Capital, founded by Pranav and Siddarth Pai, has successfully returned the capital of its first fund to sponsors while maintaining potential for substantial additional returns. The 2016 fund backed notable startups like Darwinbox and Licious. 3one4 Capital has achieved six mergers and acquisitions exits, with more profitable exits in progress. The firm’s growing fund sizes and improved performance reflect India’s evolving venture capital landscape, marked by an increase in unicorns and new IPO opportunities.
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Gemba Capital launches Rs 250 Cr Fund-II
Entrackr
·
11m ago
Medial
Gemba Capital, a Sebi-registered micro VC firm, has announced the launch of its second fund with a corpus of Rs 250 crore (around $30 million), including a green shoe option of Rs 50 crore ($6 million). As per Gemba, Fund-II will invest in around 30 early-stage ‘Platform-first’ businesses across fintech, consumer tech and B2B platforms with first cheque of Rs 5 crores and 30% reserve ratio for making follow-on investments. Founded in 2018, Gemba Capital invests at seed and pre-seed stage in scalable tech startups. It has backed over 120 founders across 50 startups in fintech, consumer tech and B2B platforms since its inception. Some of the notable portfolio companies arePlum (Insurtech), Grip Invest, Wint Wealth, Strata, Navadhan, Zuper, Showroom, Smartstaff, ClickPost and LightFury.
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Healthtech startup Dozee raises $8 mn for global expansion
Inshorts
·
3m ago
Medial
Healthtech startup Dozee, backed by Prime Venture Partners, 3one4 Capital, among others, has raised about $8.3 million in a mix of equity and debt, sources told Inc42. As per the startup MCA filings, Temasek Trust impact-first investment vehicle C3H infused ₹6.3 crore in the form of equity in the Bengaluru-based startup.
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Bottomline: VC-backed Fasal doubles revenue in FY24, keeps loss in check
VCCircle
·
10m ago
Medial
Agritech startup Fasal, backed by investors including Omnivore Venture Partners and 3one4 Capital, reported a significant increase in revenue for the financial year ending March 2024. Despite the growth, the Bengaluru-based company managed to control its losses. Fasal raised $12 million in funding earlier this year to support its agricultural monitoring and analytics platform.
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VC-backed LoanTap's co-founder Vikas Kumar dies in accident
VCCircle
·
2m ago
Medial
Vikas Kumar, co-founder and CTO of LoanTap, tragically died in an accident in Bengaluru. He co-founded LoanTap Financial Technologies in 2016 alongside Satyam Kumar, its current CEO. The fintech company, backed by venture capital firms like 3one4 Capital and Kae Capital, offers personal and MSME loans. Vikas previously co-founded Brainvisa and SME Networks, showcasing a successful entrepreneurial journey. His unexpected passing underscores a series of recent untimely losses in the startup community.
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InCred Group acquires Dubai-based Arrow Capital to expand Middle East ops
VCCircle
·
4m ago
Medial
InCred Group has acquired Arrow Capital, a Dubai-based financial services firm, to bolster its presence in the Middle East and Africa. Founded in 2016, Arrow Capital offers wealth management, investment advisory, corporate finance, and asset management services. The acquisition enhances InCred's global capabilities in wealth management, investment banking, and asset management, managing over $2 billion in assets across Dubai, Singapore, and London, while accelerating its growth across multiple business lines.
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Equirus acquires Credence Family Office as TIW Private Equity exits
VCCircle
·
5m ago
Medial
Equirus Capital has acquired Credence Family Office for approximately Rs 100 crore to enhance its wealth management capabilities, leading to TIW Private Equity's exit. Credence’s founder, Mitesh Shah, will join Equirus’s leadership, and the combined entity will be known as Equirus-Credence Family Office. This acquisition boosts Equirus Group's wealth assets to Rs 18,000 crore, and increases its workforce to 450 people. Credence, founded in 2010, has 350 clients and Rs 8,000 crore in assets under advisory.
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