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

News on Medial

Related News

FinBox raises $40 Mn in Series B round led by WestBridge

EntrackrEntrackr · 2m ago
FinBox raises $40 Mn in Series B round led by WestBridge
Medial

FinBox, a credit infrastructure fintech, has raised $40 million in a Series B round led by WestBridge Capital, with participation from existing investors A91 Partners and Aditya Birla Ventures. The funding round also included $5 million in secondary to provide partial exits to early investors. Earlier in June 2022, it had raised $15 million in a Series A round led by A91 Partners. The company also counts Flipkart among its early backers. The Bengaluru-based company will use the funds to accelerate product innovation, fuel international expansion, and deepen its AI-driven credit intelligence stack. Founded in 2017 by Rajat Deshpande, Anant Deshpande, Nikhil Bhawsinka, and Srijan Nagar, FinBox builds B2B credit infrastructure for banks, NBFCs, and fintechs. Its modular platform powers digital loan origination, underwriting, fraud detection, and embedded lending. FinBox is betting big on Sentinel BRE (its AI-native digital lending platform), Partnership Lending Stack (Prism), and fraud intelligence products, while strengthening its BankConnect, DeviceConnect, and KYC API suite. Currently, more than 130 large clients use its solutions, including HDFC Bank, Kotak Mahindra Bank, Aditya Birla Capital, Tata Capital, and Poonawalla Fincorp. As per TheKredible, FinBox grew its revenue by 47% in FY24 to Rs 53 crore, but its losses also rose to about Rs 34 crore. The firm has yet to file FY25 results. Since inception, it has processed more than $9 billion in loan applications. The company claims to be growing 100% year-on-year across product lines. It competes with players like Perfios, Signzy, and Fibe.

IntrCity SmartBus raises Rs 250 Cr in Series D led by A91 Partners

EntrackrEntrackr · 1m ago
IntrCity SmartBus raises Rs 250 Cr in Series D led by A91 Partners
Medial

IntrCity SmartBus raises Rs 250 Cr in Series D led by A91 Partners Intercity bus network IntrCity SmartBus has raised Rs 250 crore ($28 million) in a Series D funding round led by A91 Partners. IntrCity had earlier raised $4.5 million from Samsung Venture Investment and other investors in February last year. As per the startup data intelligent platform TheKredible, IntrCity has raised nearly $80 million to date and was valued at around $110 million in the last funding round. The Noida-based company will use the funds to enhance customer travel experience, upgrade its fleet management technology platform, and expand coverage across tier-II and tier-III cities. Co-founded in 2019 by Kapil Raizada and Manish Rathi, IntrCity SmartBus operates as the bus arm of RailYatri, offering standardized intercity bus travel through an asset-light model. Its “SmartBuses” are equipped with IoT devices for real-time tracking and data monitoring. “The brand continues to scale up organically and profitably and is projected to maintain its 50% year-on-year growth this year. We are excited to onboard A91 Partners in the next phase of our journey,” said Raizada. “This new capital enables us to further double down on our vision to transform the bus-travel landscape in India.” IntrCity SmartBus claims to operate on more than 630 routes across 15 states. Its sister platform, RailYatri, serves over 12 million monthly users offering train ticket booking and travel insights. The company aims to double its fleet and touch Rs 1,000 crore in turnover by next year. While the company has yet to file its annual financial statements for FY25, it reported a 15.9% jump in its revenue from operations to Rs 317.34 crore during FY24 as compared to Rs 273.9 crore in FY23. It competes with Abhibus, Zingbus, Leafybus and ixigo’s Freshbus.

A91 Partners closes $665 Mn Fund III

EntrackrEntrackr · 7m ago
A91 Partners closes $665 Mn Fund III
Medial

A91 Partners has announced the final close of its third fund at $665 million. With Fund III, A91 plans to continue backing growth-stage businesses and supporting founders with scale and strategic capital. “We started A91 in 2018 with the following beliefs - patient capital will play an important role in accelerating value creation in Indian businesses across sectors. We also believed in the opportunity to create a world-class Indian investment firm - for founders who are aiming to build large enduring businesses from India. All these beliefs have been strengthened over the last 6 years,” said A91 Partners in a Linkedin post. Founded in 2018 by former Peak XV partners Gautam Mago, Abhay Pandey, Kaushik Anand, and VT Bharadwaj, A91 Partners was created to support Indian entrepreneurs building long-term businesses. The firm focuses on investing across sectors such as consumer, healthcare, financial services, and technology. The firm said it remains committed to being a long-term partner to both founders and Limited Partners as it continues to grow its presence in the Indian private equity landscape. A91 Partners has also made investments in sectors like coffee, spices, and home appliances, including backing brands such as Atomberg. It led a $30 million Series B funding round in Blue Tokai Coffee Roasters. The firm’s portfolio includes companies like Digit Insurance, Inshorts, Sugar Cosmetics, Exotel, Healthkart, Paper Boat, and Plum, among others. Go Digit General Insurance, one of A91’s portfolio companies, went public last year. In a recent disclosure, the International Finance Corporation (IFC) said that it is considering an investment of up to $35 million in A91 Partners’ third fund, with the possibility of committing an additional $30 million for co-investment opportunities.

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