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CredRight raises $10 Mn in Series B led by Abler Nordic

Entrackr

Entrackr · 6m ago

CredRight raises $10 Mn in Series B led by Abler Nordic

CredRight, a Hyderabad-based NBFC focused on nano and micro enterprises, has raised $10 million in Series B funding led by Abler Nordic, which marked its first investment from its new Fund V. Existing backers Michael & Susan Dell Foundation and Unleash Capital also participated, while Abler Nordic has now emerged as the company’s largest equity investor. Earlier in August 2023, CredRight had raised around $9.7 million led by the Michael & Susan Dell Foundation and others. The new proceeds will be used to expand CredRight’s loan book, strengthen its technology platform, and deepen reach across tier-II to tier-IV markets. Founded in 2016 by Neeraj Bansal and Vineet Jawa, the company operates a phygital model combining digital lending with a network of 125 low-cost branches across four states. Currently, CredRight serves over 20,000 micro-enterprises, including shopkeepers and traders traditionally excluded from formal finance. Its model targets India’s $530 billion MSME credit gap, of which $169 billion lies in the micro segment. CredRight competes in the inclusive finance and MSME lending space alongside players like Kinara Capital, Varthana, Aye Finance, U GRO Capital, and Indifi.

Related News

Agritech firm Ergos secures $10 Mn in Series B funding

Entrackr

Entrackr · 2y ago

Agritech firm Ergos secures $10 Mn in Series B funding

Agritech platform Ergos has raised $10 million in a Series B funding round led by Abler Nordic. Existing investors Aavishkaar Capital, Chiratae Ventures, and Trifecta Venture also participated. Ergos operates a farm-gate based Grainbank model that allows farmers to convert their grains into tradable assets, access credit, and obtain better prices for their produce. The platform currently supports over 160,000 farmers and has a network of farm-gate based warehouses in Bihar, Karnataka, and Maharashtra. The company's revenue surged significantly in FY22, but losses also increased. Investment in agritech startups has declined compared to previous years.

Fintech startup CredRight raises $9.7 Mn led by Dell Foundation

Entrackr

Entrackr · 2y ago

Fintech startup CredRight raises $9.7 Mn led by Dell Foundation

Fintech startup CredRight has raised Rs 78 crore ($9.7 million) in a funding round involving equity and debt. The Michael & Susan Dell Foundation led the equity capital funding, joined by existing investors like YourNest, Spearhead Capital, 9Unicorns, and Accion Venture Lab. Debt capital funding came from Blacksoil, Caspian Debt, RevX Capital, and Westen Capital. CredRight plans to expand into new areas, enhance its technology, and provide formal finance access to small businesses and MSMEs. The platform, which serves nano entrepreneurs and aims to address the financing gap, has shown significant growth with one of the lowest NPAs in the industry.

Smart Joules raises $10 Mn in Series B round

Entrackr

Entrackr · 3m ago

Smart Joules raises $10 Mn in Series B round

Smart Joules raises $10 Mn in Series B round Energy services firm Smart Joules has raised $10 million in a Series B round led by Neev II Fund, managed by SBI Ventures Limited, with participation from Waaree Renewable Technologies and Spectrum Impact. The proceeds will be used to expand its energy efficiency and cooling operations across commercial and industrial facilities in India. The focus areas include manufacturing units, building automation, and district cooling projects. Funds will also be deployed to strengthen its technology, data systems, and on-ground execution teams. Founded in 2014 by Arjun P. Gupta, Sidhartha P. Gupta, and Ujjal Majumdar, Smart Joules operates on an efficiency-first model and works with enterprises to reduce energy use without upfront capital from customers. Its product suite includes JoulePays for performance-based energy efficiency contracts, JouleCool for cooling-as-a-service, and DeJoule, its AI-led building management platform. According to the company, it has so far conserved 32.1 crore kWh of energy, reduced 2.4 lakh tonnes of CO₂ emissions, and delivered Rs 266 crore in energy cost savings. Smart Joules is targeting a reduction of 29 million tonnes of carbon emissions by 2030.

Tech-enabled NBFC startup CredRight raises Rs 78Cr in equity and debt

IndianStartupNews

IndianStartupNews · 2y ago

Tech-enabled NBFC startup CredRight raises Rs 78Cr in equity and debt

Hyderabad-based startup CredRight has secured Rs 78 crore in equity and debt funding. Led by Michael and Susan Dell Foundation, the funding will aid expansion, technology enhancement, and providing formal finance access to small businesses. CredRight offers credit to small enterprises and aims to bridge the financing gap for those without institutional support, targeting an AUM of Rs 2,000 crore in the next three years.

Zouk Pockets $10 Mn To Capitalise On Its D2C Lifestyle Offerings

Inc42 · 1y ago

Zouk Pockets $10 Mn To Capitalise On Its D2C Lifestyle Offerings

Zouk, an Indian startup, has raised $10 million in a Series B funding round led by Aavishkaar Capital. The company will use the funds to expand its offline presence, enhance brand awareness, and strengthen its supply chain. This funding brings Zouk's total funding to $14.5 million.

Nandan Nilekani’s Fundamentum leads $20-mn Series B in Stable Money

VCCircle

VCCircle · 9m ago

Nandan Nilekani’s Fundamentum leads $20-mn Series B in Stable Money

Wealthtech platform Stable Money has raised $20 million in a Series B funding round led by Nandan Nilekani’s Fundamentum Partnership, with participation from existing investors Z47, RTP Global, and Lightspeed, plus Aditya Birla Ventures. This comes 10 months after a $15 million Series A round. Stable Money, founded in 2022, plans to expand its wealth product offerings and partner network while focusing on underserved investors in tier II and III cities.

Sprinto Raises $20 Mn From Accel, Others

Inc42 · 1y ago

Sprinto Raises $20 Mn From Accel, Others

RegTech startup Sprinto has raised $20 million in Series B funding led by Accel. The funding round also included participation from existing investors Elevation Capital and Blume Ventures. Sprinto, founded in 2020, provides enterprises with automation tools for risk and compliance requirements. The company plans to use the funding for research and development, focusing on intelligent automation and artificial intelligence, as well as expanding into new markets.

Mozark raises $40 Mn in Series B round led by IFC and RMB Capitalworks

Entrackr

Entrackr · 6d ago

Mozark raises $40 Mn in Series B round led by IFC and RMB Capitalworks

Mozark raises $40 Mn in Series B round led by IFC and RMB Capitalworks Digital experience testing and measurement company Mozark has raised $40 million in Series B funding round led by IFC (International Finance Corporation) and RMB Capitalworks, with participation from Kalaari Capital. The startup had previously secured $10 million from VentureSoul Partners, BlackSoil, and others. The proceeds will be utilized for global expansion and strategic acquisitions, Mozark said in a press release. Co-founded in 2019 by Chandrasekar Ramamoorthy, Kartik Raja, and Fabien Ranaudineau, Mozark helps enterprises, telecom operators, public-sector organizations, and regulators run real-world digital experience tests at scale. By executing scripted critical user journeys on real devices across real networks and locations, Mozark generates synthetic experience telemetry to pinpoint performance gaps across the AI-native full stack—from applications and AI systems to the infrastructure that powers them. It supports sovereignty-ready deployments. Mozark currently serves over 50 enterprise and government clients across more than 20 countries, including regulators, telecom operators, financial institutions, and global digital-native organizations. Its deployments run concurrently on several thousand live devices, having already executed over 25 million tests supporting benchmarking and user-experience assurance analytics at scale.

CureBay raises $21 mn to expand rural AI-driven healthcare

Inshorts · 9m ago

CureBay raises $21 mn to expand rural AI-driven healthcare

Bhubaneswar-based CureBay has secured $21 million in Series B funding led by Bertelsmann India Investments. The health-tech startup will enhance its AI-powered platform, expand eClinics, and enter underserved states like Bihar and UP. With over 150 clinics and 1,000 local health workers, CureBay aims to revolutionize rural healthcare access across India.

MSD backed Garuda Aerospace raises ₹100 cr, hits $250 mn valuation

Inshorts · 11m ago

MSD backed Garuda Aerospace raises ₹100 cr, hits $250 mn valuation

Chennai-based Garuda Aerospace secured ₹100 crore in Series B funding led by Venture Catalysts, boosting its valuation to $250 million. Founded by Agnishwar Jayaprakash, the drone innovator plans to expand IP assets, launch a new design hub, and strengthen indigenous UAV capabilities. With MS Dhoni as brand ambassador, Garuda aims to impact one billion lives through drone technology.

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