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Bottomline: Varthana's FY24 AUM grows as pandemic tremors begin to recede

VCCircle

VCCircle · 12m ago

Bottomline: Varthana's FY24 AUM grows as pandemic tremors begin to recede

Varthana Finance, supported by private equity firms including ChrysCapital and Kaizen Private Equity, is witnessing growth in its assets under management (AUM) as the effects of the COVID-19 pandemic begin to fade. The company, led by CEO Steve Hardgrave, is recovering from the disruptions caused by the pandemic and has shown positive signs in its financial performance. With investors such as Bahram Vakil and Pramod Bhasin, Varthana Finance is on a path to recovery and success.

Related News

Bottomline: PremjiInvest-backed TVS Credit sustains healthy AUM growth in FY24

VCCircle

VCCircle · 12m ago

Bottomline: PremjiInvest-backed TVS Credit sustains healthy AUM growth in FY24

TVS Credit Services, the non-banking finance subsidiary of TVS Motor Company, achieved a 24% increase in assets under management (AUM) for FY24. With support from PremjiInvest, the company's AUM reached Rs 25,900 crore as of March 31st, up from Rs 20,900 crore the previous year. This growth can be attributed to expansion across various product categories.

Bottomline: Gaja-backed Kinara Capital’s assets under management soar in FY24

VCCircle

VCCircle · 1y ago

Bottomline: Gaja-backed Kinara Capital’s assets under management soar in FY24

Small-business lender Kinara Capital, which is supported by investors such as Gaja Capital and the Michael and Susan Dell Foundation, has reported a 26% year-on-year growth in its assets under management (AUM) for nine months of FY24. The company's CEO, Hardika Shah, expressed confidence in Kinara Capital's growth trajectory and its ability to provide support for small businesses.

Bottomline: Warburg-owned Shriram Housing maintains profit, AUM growth trend in FY24

VCCircle

VCCircle · 10m ago

Bottomline: Warburg-owned Shriram Housing maintains profit, AUM growth trend in FY24

- Shriram Housing Finance reports a 58% increase in net profit for FY24 - Assets under management (AUM) continue to grow at a high double-digit rate - Private equity firm Warburg Pincus acquires Shriram Housing in May - Ravi Subramanian serves as the Managing Director and CEO of Shriram Housing - Net profit for the year ended March 2024 amounts to Rs 217.4 crore

Bottomline: Stride Ventures founders' NBFC Stride One Capital grows its AUM 42% y-o-y

VCCircle

VCCircle · 1y ago

Bottomline: Stride Ventures founders' NBFC Stride One Capital grows its AUM 42% y-o-y

Stride One Capital Pvt. Ltd, an NBFC founded by the team behind venture debt firm Stride Ventures, experienced a 42% year-on-year increase in its assets under management (AUM) for the financial year ending in March 2024. The company also showcased improvement in other important financial indicators. Stride Ventures' founder and managing partner, Ishpreet Singh Gandhi, shared this positive update.

Bottomline: TPG-backed Grihum Housing's AUM tops $1 bn, asset quality worsens

VCCircle

VCCircle · 7m ago

Bottomline: TPG-backed Grihum Housing's AUM tops $1 bn, asset quality worsens

Grihum Housing Finance, backed by TPG, has achieved an assets under management (AUM) milestone of over $1 billion in the first half of the financial year starting April 2024. This growth positively influenced net profits for FY24 and the first half of FY25. However, there are concerns over the company's deteriorating asset quality, despite its financial advancements. The management, led by MD & CEO Manish Jaiswal, navigates these dual fronts of growth and challenges.

Bottomline: PE-backed lender Aviom aims to double AUM as profit, margin improve

VCCircle

VCCircle · 1y ago

Bottomline: PE-backed lender Aviom aims to double AUM as profit, margin improve

PE-backed lender Aviom India Housing Finance plans to double its assets under management (AUM) during the current fiscal year. The company recorded a 70% increase in AUM for the previous fiscal year and is also aiming to improve its profit and net interest margin. Aviom focuses on providing small-ticket home loans to individuals in rural and underserved areas.

Bottomline: Vastu Housing Finance’s AUM for last fiscal soars past $1 bn mark

VCCircle

VCCircle · 1y ago

Bottomline: Vastu Housing Finance’s AUM for last fiscal soars past $1 bn mark

Vastu Housing Finance, a non-banking finance company controlled by Multiples PE, saw a substantial increase in its assets under management (AUM) for the financial year 2024, surpassing the $1 billion mark. The company's annual report showed strong growth in its AUM, indicating positive financial performance. The lender, led by Sandeep Menon, founder, MD, and CEO, continues to improve its financial metrics steadily.

Varthana Nets INR 159 Cr Debt To Scale Affordable Schools, Boost Green Infra Varthana Nets INR 159 Cr Debt To Scale Affordable Schools, Boost Green Infra

Inc42 · 1m ago

Varthana Nets INR 159 Cr Debt To Scale Affordable Schools, Boost Green Infra Varthana Nets INR 159 Cr Debt To Scale Affordable Schools, Boost Green Infra

Varthana, an education-focused NBFC, raised INR 159 crore in debt from BlueEarth Capital, Franklin Templeton Alternative Investments, and responsAbility. The funding aims to expand affordable schools and enhance sustainable infrastructure across India. The investment includes non-convertible debentures worth INR 65 crore from responsAbility, INR 69 crore in external commercial borrowings from BlueEarth Capital, and INR 25 crore from Franklin Templeton. Varthana's FY24 net profit increased nearly sixfold to INR 30.9 crore.

Bottomline: Peak XV-backed Eduvanz's AUM shrinks, asset quality deteriorates

VCCircle

VCCircle · 10m ago

Bottomline: Peak XV-backed Eduvanz's AUM shrinks, asset quality deteriorates

Eduvanz, an education-focused lending startup, reported a net loss for the fiscal year 2024, accompanied by a 33% decrease in its assets under management (AUM). Despite a 21.6% increase in its topline to Rs 63.6 crore, the non-banking financial company's asset quality deteriorated. Eduvanz is backed by Peak XV and offers loans for education-related expenses.

Consumer-lending fintechs steal show with surging numbers

Economic Times

Economic Times · 10m ago

Consumer-lending fintechs steal show with surging numbers

- Fintech firms in the consumer lending sector reported strong profits and revenue growth in the last financial year. - Navi, Kreditbee, Moneyview, and Fibe all experienced significant growth in assets under management (AUM) and reported net profits. - Navi built AUM of Rs 10,190 crore in personal loans with a net profit of Rs 669 crore in FY24. - Fibe achieved AUM of Rs 4,064 crore and reported a net profit of Rs 105 crore in FY24 by focusing on larger loans with longer tenures. - Moneyview reported a flat net profit of Rs 171 crore in FY24 due to regulatory changes, while Kreditbee reported a net profit of Rs 285 crore. - The current fiscal year may show signs of slowdown due to increased regulatory scrutiny, but larger fintech startups are expected to remain in a better position. - Consolidation is expected in the digital lending sector as scaling fintech startups acquire market share and form partnerships.

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