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BankBazaar raises Rs 55 Cr, partners with Muthoot Fincorp to enter gold loan segment

EntrackrEntrackr · 2m ago
BankBazaar raises Rs 55 Cr, partners with Muthoot Fincorp to enter gold loan segment
Medial

BankBazaar raises Rs 55 Cr, partners with Muthoot Fincorp to enter gold loan segment BankBazaar has secured Rs 55 crore ($6.44 million) in fresh funding from a group of investors, including Muthoot Fincorp and existing investor Walden International. Earlier in April 2024, the Chennai-based company had raised Rs 80 crore ($9.6 million) in its ongoing Series D round via private placement. The fresh investment was made at a valuation of around Rs 1,700 crore (approximately $200 million). Muthoot Fincorp alone invested Rs 15 crore in this round. With the investment from Muthoot Fincorp, BankBazaar’s total equity funding has risen to $116 million. According to BankBazaar co-founder Adhil Shetty, this funding is a continuation of the company’s previous round from December 2023. He stated that the round remains open as the company explores further options. In FY24, the company recorded a 63% growth in its co-branded credit card business and expects to maintain a 46% annual revenue growth rate between FY22 and FY25. According to Shetty, the company is on track to reach EBITDA profitability for the full year in FY25. BankBazaar offers co-branded credit cards with Yes Bank. Along with the funding, BankBazaar has partnered with Muthoot Fincorp to enter the gold loan segment.

Decoding SpotDraft’s Series B funding round, latest valuation and captable

EntrackrEntrackr · 3m ago
Decoding SpotDraft’s Series B funding round, latest valuation and captable
Medial

SpotDraft, a contract lifecycle management (CLM) platform, has recently raised $54 million in its Series B round led by Vertex Growth Singapore and Trident Partners with the participation of Prosus, Premji Invest, Arkam Ventures, Volrado Venture Partners, and others. SpotDraft secured $26 million in its Series A funding round in March 2023. Entrackr has gone through its regulatory filings to decode the round breakup, captable, and current valuation. The board at SpotDraft allotted 1,39,025 Series B compulsory convertible preference shares at an issue price of Rs 33,938 each to raise Rs 472 crore ($54-55 million). The Series B round commenced in December 2024 with an initial investment of Rs 50.5 crore from Xeed Ventures through 021 Capital, Premji Invest, and Arkam Ventures through Unitary Fund. The remaining funds were secured in March 2025. Vertex Growth led the funding round with an investment of Rs 126 crore ($14.8 million), followed by Trident Partners and Prosus, which contributed Rs 109.6 crore ($12.9 million) and Rs 73.2 crore ($8.6 million), respectively. Other notable investors included Premji Invest (Rs 37.6 crore), Arkam Ventures (Rs 34 crore), and Xeed Ventures (Rs 33.6 crore), Volrado Venture Partners (Rs 25 crore). As per Fintrackr’s estimates, the company’s post-money valuation has now reached $190-$200 million. According to startup data intelligence platform TheKredible, the Bengaluru-based company has raised nearly $98.5 million to date. Following the allotment of the Series B round, Xeed Ventures emerged as the largest shareholder with a 15.8% stake in the company. It is followed by Arkam Ventures (10.27%), Premji Invest (10.24%). Co-founder Shashank Bijapur holds a 9.08% stake in the company. Founded in 2017, SpotDraft is an AI-powered contract lifecycle management (CLM) platform designed for in-house legal teams. It streamlines every stage of the contracting process, offering features such as AI-assisted redlining, e-signatures, an intelligent contract repository, third-party document handling, clickwrap agreements, and more. Spotdraft competes with other legaltech startups like Legistify, Leegality, Sirion, Vakilsearch, and others. SpotDraft’s revenue from operations grew threefold in FY24 to Rs 60 crore from Rs 20 crore in FY23, while its losses remained flat at Rs 68 crore during the same period.

Saarathi Finance secures Rs 475 Cr equity capital

EntrackrEntrackr · 1m 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.

Metalbook raises Rs 25 Cr debt from Northern Arc

EntrackrEntrackr · 1y ago
Metalbook raises Rs 25 Cr debt from Northern Arc
Medial

Full-stack metal supply-chain platform Metalbook has raised Rs 25 crore or (approximately $3 million) from Northern Arc. This is the first debt financing for the Delhi-based company. In February 2024, it raised $15 million led by Rigel Capital in Series A round. Metalbook’s board passed a special resolution to issue 250 non-convertible debentures at a face value of Rs 10,00,000 each to raise the above-mentioned sum, its regulatory filing sourced from Registrar of companies (RoC) shows. Founded in 2021, Metalbook is a full stack platform which helps businesses including SMEs with procurement, inventory liquidation, logistics, and credit among others. It claims to work with over 500 manufacturers, dealers and suppliers such as ArcelorMittal Nippon Steel, Tata Steel and JSW across 16 countries. In August last year, Axilor had led a $5 million seed round in Metalbook. The Delhi-based company is yet to disclose FY23 numbers but its revenue from operations stood at Rs 85.39 crore in FY22. Its losses also increased to Rs 25.90 crore in the same period. At the time of its Series A round in February, Metalbook said that it’s anticipating to achieve an annualized revenue run rate of $200 million by the end of FY24.

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