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Arthan Finance raises Rs 50 Cr in Series B round

EntrackrEntrackr · 1y ago
Arthan Finance raises Rs 50 Cr in Series B round
Medial

Non-banking financial company (NBFC) Arthan Finance has raised Rs 50 crore ($6 million) from investors such as Incofin India Progress Fund and the Michael and Susan Dell Foundation. Till date, Arthan Finance has raised Rs 83 crore ($10 million). Previous funding rounds saw participation from the founders, angel investors, and the Michael & Susan Dell Foundation. The proceeds will be used to boost the firm’s expansion and technological progress. This will also help Arthan Finance grow its Assets Under Management (AUM), expand its geographic footprint, and invest in advanced AI and ML-based underwriting systems, the company said in a press release. Founded by Kunal Mehta, Arthan Finance is a new age lending tech NBFC specializing in loans for self-employed nano and micro entrepreneurs. The firm currently operates in Maharashtra, Odisha, Andhra Pradesh, and Telangana, providing growth capital to self-employed nano and micro enterprises in tier II, III, and IV cities. The company claims to have disbursed over Rs 500 crore to more than 20,000 borrowers, with loan amounts ranging from Rs 2,000 to Rs 20 lakhs.

InCred Money secures Rs 250 Cr from marquee investors at $200 Mn valuation

EntrackrEntrackr · 1m ago
InCred Money secures Rs 250 Cr from marquee investors at $200 Mn valuation
Medial

InCred Money secures Rs 250 Cr from marquee investors at $200 Mn valuation InCred Money, the wealth and asset management arm of InCred Group, has raised Rs 250 crore ($30M) from investors including Ranjan Pai, Ram Nayak, Mankind Family Office, MMG Family Office, Ravi Pillai Family Office, and Raj Vattikutti Foundation. According to Entrackr sources, the fresh capital values InCred Money at around Rs 1,650 crore (roughly $200 million). Founded by Bhupinder Singh, InCred Group runs three key businesses: InCred Finance (a retail and MSME-focused NBFC), InCred Capital (wealth and asset management, M&A advisory, capital markets, and broking), and InCred Money. The group positions itself as a tech-driven financial services firm leveraging data science and proprietary risk models. InCred Money offers investment options across unlisted shares, fixed deposits, gold, silver, and more. According to the company’s website, the platform is used by over 1.5 lakh investors. The fresh fundraising comes as InCred Holdings gears up for a public market debut. The parent is preparing for an IPO with a total issue size pegged at $460–560 million, including a Rs 1,500 crore fresh issue and a Rs 300 crore pre-IPO placement. On the financial front, InCred Finance, the group’s lending arm, recorded a 47% year-on-year jump in revenue to Rs 1,872 crore in FY25, while profits rose 18% to Rs 374 crore. InCred Capital had earlier secured $50 million from family offices to expand its wealth and capital markets operations. With this funding, InCred Money becomes part of the growing wave of wealth management startups getting strong investor interest, as more Indians turn to digital platforms to manage their money.

Exclusive: StockGro secures Rs 50 Cr debt from Trifecta

EntrackrEntrackr · 1m ago
Exclusive: StockGro secures Rs 50 Cr debt from Trifecta
Medial

url: https://entrackr.com/exclusive/exclusive-stockgro-secures-rs-50-cr-debt-from-trifecta-9780883 Content: Social investment and stock market advisory platform StockGro raised Rs 50 crore ($5.7 million) in debt funding from its existing investor Trifecta Capital. This debt funding follows the Rs 205 crore ($25 million) raised in two tranches in January 2024 from Hindustan Media Ventures and Trifecta Capital. According to filings with the Registrar of Companies (RoC), StockGro’s board approved the issuance of 500 Series B non-convertible debentures at a face value of Rs 10 lakh each, raising Rs 50 crore from Trifecta Capital. Founded in 2020 by former venture capitalist Ajay Lakhotia, the Bengaluru-based StockGro is a fintech platform that simplifies stock market investing through SEBI-registered advisors, offering investment advisory, portfolio management, and educational resources to help users navigate the market. Recently, StockGro has launched Stoxo, India’s first AI-powered stock market research engine. It offers real-time, reliable insights to help retail investors make better decisions. According to startup data intelligence platform TheKredible, the BITCRAFT Ventures-backed company raised over $50 million in both debt and equity, including its $32 million Series A round raised in January 2022. While the company is yet to file its FY25 numbers, its revenue from operations fell 34% to Rs 86.5 crore in FY24 from Rs 131 crore in FY23. During the same period, losses surged 84% to Rs 101 crore.

Saarathi Finance secures Rs 475 Cr equity capital

EntrackrEntrackr · 5m ago
Saarathi Finance secures Rs 475 Cr equity capital
Medial

Saarathi Finance secures Rs 475 Cr equity capital Non-Banking Financial Company (NBFC) Saarathi Finance has closed its inaugural funding round of Rs 475 crore, co-led by TVS Capital Funds, Lok Capital, Evolvence Equity Partners, Paragon Partners, and other angels collectively contributing about Rs 350 crore. Vivek Bansal and Sunil Daga also infused the remaining amount. The Series A investment values Saarathi Finance at over Rs 900 crore. The capital infusion will support its aim to bridge the significant credit gap faced by MSMEs, particularly in underserved semi-urban and rural regions across Tamil Nadu, Telangana, Andhra Pradesh, Karnataka, Rajasthan, and Uttar Pradesh. Saarathi Finance's approach combines technology-driven solutions with personalized customer engagement, offering both secured and unsecured loans tailored to the unique needs of MSMEs. The company's emphasis on flexible income assessment and rapid loan processing aims to make credit more accessible to entrepreneurs traditionally overlooked by formal financial institutions. “We are committed to empowering Bharat’s entrepreneurs by providing more than just credit – a partnership that values and supports their growth. This funding milestone enables us to accelerate our mission, ensuring every stakeholder, from entrepreneurs to investors, is valued and cared for in our journey. With heartfelt gratitude to our stakeholders, friends, and family, we embark on this exciting journey,” said Vivek Bansal, founder & CEO of Saarathi Finance.

Exclusive: Futwork kicks off Series A led by Michael & Susan Dell Foundation

EntrackrEntrackr · 1y ago
Exclusive: Futwork kicks off Series A led by Michael & Susan Dell Foundation
Medial

Sales outreach platform Futwork has raised Rs 20.9 crore approximately $2.5 million in its Series A round led by the Michael & Susan Dell Foundation with participation of Artha Ventures, Simile Capital, and others. The board at Futwork has passed a special resolution to issue 50 equity and 8820 preference shares at an issue price of Rs 23650 each to raise Rs 20.9 crore or $2.5 million, its regulatory filing accessed from RoC shows. Michael & Susan Dell Foundation led the round with Rs 14.17 crore while Artha Ventures, Simile Capital, SCI Bureaux, We Founder Circle, and angel investor Abhishek Goyal cumulatively invested the rest of the amount. According to the filings, the company will use the fresh funding to meet its growth objectives, and the working capital and to strengthen its financial position. Following the fresh proceeds, the Michael & Susan Dell Foundation will hold 19.92% of the company while Simile Capital and Artha Ventures command 10.08% and 5.64% of the company. The company has secured $1 million in its seed round led by Blume Ventures in 2022. As per the data intelligence platform TheKredible, the company has been valued at around Rs 71 crore or $8.5 million post-allotment. Founded in 2020 by Armaan Vananchal, Niranjan Nakhate, and Sri Ganapathy, Futwork helps businesses build and expand their outbound calling teams with zero fixed costs. It supports a variety of tele-calling applications, such as product demos, session bookings, and customer feedback collection. In the fiscal year ending March 2023, the company reported a 12% drop in revenue, amounting to Rs 3.79 crore for FY23, with a loss of Rs 3.78 crore during the same period. According to the sources, its previous year’s loss was Rs 2 crore.

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