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Exclusive: Kunal Shah-backed Punch to raise fresh funds

EntrackrEntrackr · 4m ago
Exclusive: Kunal Shah-backed Punch to raise fresh funds
Medial

Stock broking platform Punch is raising Rs 26 crore (approximately $3 million) in its extended seed round from new and existing investors. This comes just after 7 months of its $7 million seed round. The board at Punch has passed a special resolution to issue 1,27,650 pre-Series A4 CCPS at an issue price of Rs 2,036 each to raise Rs 26 crore, its regulatory filing accessed from the Registrar of Companies (RoC) shows. Existing investors Stellaris Venture Partners and SIG Venture Partners will invest Rs 8.66 crore each, while new investor Four SB Ltd (Mauritius-based) will also participate with Rs 8.66 crore during the round. The company will use the proceeds for growth, expansion, and general corporate activities, as per filings. Entrackr estimates that Punch will be valued at around Rs 157 crore or $18.5 million (post-money). According to the startup data intelligence platform TheKredible, existing investors Stellaris Venture Partners and SIG Venture Partners will each hold a 15.9% stake in the company, while Four SB will own 5.5% (post-allotment). Punch is a mobile-first stock trading platform designed to make options trading seamless for both beginners and seasoned traders. It enables users to trade index options, stock options, and equities on the NSE and BSE exchanges. Punch has raised over $13 million to date across rounds including its $7 million seed round from Stellaris Venture Partners, Susquehanna Asia VC, Prime Venture Partners, and Innoven Capital. Its notable angel investors include Kunal Shah (Cred), Vatsal Singhal (Ultrahuman), and Nitish Mittersain (Nazara). For the fiscal year ending March 2024, Punch reported an operating revenue of Rs 7.2 crore, up from Rs 6.96 crore in FY23, while incurring a loss of Rs 1.68 crore during the last fiscal year.

Decoding Snabbit’s Series B round, valuation and captable

EntrackrEntrackr · 1m ago
Decoding Snabbit’s Series B round, valuation and captable
Medial

url: https://entrackr.com/fintrackr/decoding-snabbits-series-b-round-valuation-and-captable-9331453 Content: Quick service platform Snabbit recently announced its $19 million Series B round led by Lightspeed with the participation of existing investors Nexus Venture Partners and Elevation Capital. The board of Snabbit is set to approve the allotment of 65,165 Series B compulsory convertible preference shares at an issue price of Rs 24,914.93 each, to raise Rs 162.35 crore (approximately $19 million), its regulatory filing accessed from Registrar of Companies (RoC) shows. Lightspeed is expected to invest Rs 94 crore ($11 million), while existing investors Nexus Venture Partners and Elevation Capital will contribute Rs 34.18 crore ($4 million) each. According to Entrackr’s estimates, Snabbit will be valued at Rs 684 crore (around $80 million), a 3.5X increase from its $23 million valuation in the previous Series A round. Founded in 2024 by Aayush Agarwal, Snabbit connects households with trained professionals for on-demand home services like cleaning, dishwashing, and laundry. Experts can be booked by the hour and arrive within 10 minutes. The platform currently hosts over 600 professionals, doubling monthly, according to Agarwal. Following the allotment of the new round, Nexus Venture Partners and Elevation Capital will hold 23.69% and 19.92% stake, respectively, while new investor Lightspeed will own 13.75%. Founder Aayush Agarwal will retain a 36.08% stake in the company. The Mumbai-based company has raised over $25 million across 3 rounds including $5.5 million in Series A round led by Elevation and Nexus earlier this year. Snabbit directly competes with the industry leader Urban Company which recently filed its Draft Red Herring Prospectus (DRHP) with SEBI for a Rs 1,900 crore initial public offer (IPO) and also entered into quick commerce with the launch of 15-minute maid booking service, “Insta Help”. Snabbit also competes with another 10-minute house help service startup, Pronto which raised $2 million from Bain Capital at a valuation of $12.5 million.

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