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Lending platform Mannjal raises Rs 17.5 Cr led by Arali Ventures

EntrackrEntrackr · 2m ago
Lending platform Mannjal raises Rs 17.5 Cr led by Arali Ventures
Medial

Snippets Lending platform Mannjal raises Rs 17.5 Cr led by Arali Ventures Full-stack lending platform Mannjal has raised Rs 17.5 crore ($2.1 million) in a seed round led by Arali Ventures and B Capital, with participation from Sparrow Capital and Gemba Capital. The proceeds will be used to expand its lender network and accelerate product development. Founded in 2023 by Prashant Adurty, Aman Bhargava, and Harshit Lingamneni in Bengaluru, Mannjal operates a full-stack lending platform that helps financial institutions distribute priority-sector and impact-linked credit products at scale. The startup provides infrastructure that supports field operations, origination, and credit decisioning. It enables lenders to run digital and physical data journeys, enrich borrower profiles with external information sources, and structure data for analysis and decision support. Institutions can configure custom workflows for teams across risk, operations, and business functions. According to the company, lenders using Mannjal have reduced turnaround times by 50–75% and improved sanction ratios to 85–90%. Over the last 18 months, Mannjal’s platform claims to have enabled disbursements of about Rs 1,000 crore across unsecured business loans, loan against property, and affordable housing finance. The company now works with more than 75 lenders.

EV financing startup Perpetuity Capital raises Rs 7 Cr

EntrackrEntrackr · 1y ago
EV financing startup Perpetuity Capital raises Rs 7 Cr
Medial

Perpetuity Capital, a fintech platform specializing in clean-tech mobility, has raised Rs 7 crore through Non-Convertible Debentures (NCDs) from N+1 Capital and RevX Capital. Perpetuity Capital plans to utilise these funds to enhance its lending capabilities and expand its loan book, particularly focusing on the regions of East India. This strategic move is aimed at promoting the adoption of environmentally friendly mobility solutions in these states. Led by Karamveer Dhillon, Perpetuity Capital helps delivery drivers and autorickshaw drivers avail finance to purchase electric vehicles for commercial use. In October 2023, Perpetuity Capital raised Rs 5 crore in debt from Clime Finance. In the electric vehicle financing space, Perpetuity Capital competes with Vidyut, Revfin, Finayo, Mufin Green Finance, OTO, evfin, and Hero FinCorp, among others. Revfin raised $14 million in Series B round led by Omidyar Network in December whereas Vidyut raised $10 million in February this year.

Mobikwik posts Rs 289 Cr revenue and Rs 4 Cr profit in Q3 FY26

EntrackrEntrackr · 18d ago
Mobikwik posts Rs 289 Cr revenue and Rs 4 Cr profit in Q3 FY26
Medial

Fintech platform MobiKwik reported its quarterly results for the third quarter of the ongoing fiscal year (FY26) on Tuesday, with revenue growing 7% year-on-year and gaining profitability. MobiKwik’s revenue from operations increased by 7% to Rs 289 crore in Q3 FY26 from Rs 270 crore in Q3 FY25, its unaudited financial statements accessed from the National Stock Exchange (NSE) show. Commissions on recharges, processing, and interest on servicing loans, payment gateways, as well as platform fee were the primary revenue sources for MobiKwik in Q3 FY26. For the nine-month period, the company’s revenue decreased 8% to Rs 830.5 crore from Rs 902 crore, a year earlier. For the payments platform, payment gateway costs accounted for the largest expense, making up 44% of the total cost of Rs 129 crore in Q3 FY26. Its employee benefit expenses stood at Rs 41 crore, while lending fees aka commission fell to Rs 1 crore. MobiKwik’s financial guarantee, legal, advertising-marketing, finance, and other overheads took its total burn to Rs 293 crore in Q3 FY26 which decreased by 11% as compared to Rs 328 crore in Q3 FY25. With the help of controlled expenses and steady growth, the company turned profitable and posted a profit of Rs 4 crore in Q3 FY26, as compared to a loss of Rs 53 crore in Q3 FY25.

Exclusive: Oxyzo clocks Rs 330 Cr PAT on Rs 1,207 Cr revenue in FY25

EntrackrEntrackr · 8m ago
Exclusive: Oxyzo clocks Rs 330 Cr PAT on Rs 1,207 Cr revenue in FY25
Medial

According to consolidated financial statements reviewed by Entrackr, Oxyzo’s operating revenue rose to Rs 1,207 crore in FY25, up from Rs 903 crore in FY24. Following a 58% year-on-year growth in FY24, B2B fintech unicorn Oxyzo Financial Services continued its strong momentum in FY25, recording a 33.7% YoY increase in revenue for the fiscal year ended March 2025. The company also reported a 16.5% rise in profit during the same period. Oxyzo, the lending arm of the industrial goods and services procurement platform OfBusiness, offers credit solutions and loans to small and medium enterprises (SMEs) and startups. Interest income from loan disbursements contributed 95% of its total operating revenue, which rose to Rs 1,141 crore in FY25. The remaining revenue came from fees and commissions. As a lending-focused company, finance costs emerged as the largest expense for Oxyzo, accounting for 58% of its total spending. These costs climbed to Rs 439 crore in FY25, in line with the company's expanding scale. Oxyzo spent Rs 143 crore on employee benefits. Its legal, impairment, administrative, and other operational expenses contributed to a total expenditure of Rs 755 crore in FY25, up from Rs 514 crore in FY24. The combination of topline growth and controlled cost mechanism helped the company post a 16.5% growth in profits, which rose to Rs 339 crore in FY25, compared to Rs 291 crore in the previous fiscal year. Oxyzo raised approximately $200 million in 2022, achieving unicorn status following its Series A round led by Alpha Wave and Tiger Global. The company also plans to raise a fresh round of equity in the second half of FY26 in the range of $100-150 million. According to startup data intelligence platform TheKredible, the OFB group, including its promoters, holds a 74.5% stake, while Alpha Wave is the largest external investor with a 7.4% share, followed by Tiger Global. Its parent OfBusiness is also gearing up for a $1 billion IPO, expected to include a combination of a fresh issue and an offer for sale.

Cars24 posts Rs 651 Cr adjusted revenue in H1 FY26; cuts burn by 36%

EntrackrEntrackr · 1m ago
Cars24 posts Rs 651 Cr adjusted revenue in H1 FY26; cuts burn by 36%
Medial

Cars24 posts Rs 651 Cr adjusted revenue in H1 FY26; cuts burn by 36% Digital automotive marketplace Cars24 reported an 18% year-on-year rise in adjusted net revenue to Rs 651 crore in the first half of FY26, even as overall vehicle transaction GMV remained largely flat, according to its performance update. During the period, Cars24 reduced its adjusted EBITDA loss by 36% YoY to Rs 162 crore. The improvement was led by disciplined cost management and increased automation, with operating expenses staying broadly flat at Rs 719 crore despite revenue growth. According to the company, vehicle transaction GMV declined 5% YoY to Rs 3,731 crore in H1 FY26. Cars24 increasingly funnelled vehicles toward retail transactions instead of wholesale, prioritising profitability over volumes. Its retail GMV grew 21% YoY to Rs 2,009 crore, which accounted for over 50% of total transaction GMV, while retail margins expanded to 19.3% during the period, the company added in its performance update. As per the company, it facilitated nearly 85,000 car transactions across India, the UAE, and Australia in H1 FY26. Cars24 is also on track to cross 1.8 lakh car transactions in FY26. Financing, which includes loans disbursed through the platform, rose by 38% YoY to Rs 1,637 crore during the half-year. In parallel, vehicle ownership services, including insurance, inspection reports, buyback and compliance products, saw GMV surge nearly 19x YoY to Rs 94 crore. According to the company, its international operations also strengthened. The UAE business turned profitable at the adjusted EBITDA level, reporting a profit of Rs 9 crore in H1 FY26, with retail margins reaching around 24%. Australia also posted about 20% YoY growth in GMV and over 22% growth in adjusted net revenue. Cars24 invested Rs 95 crore in technology during H1 FY26, with GenAI now powering pricing, inspections, document verification, and customer calls at scale. AI-led automation helped reduce inspection time by nearly 30% and kept costs in check as volumes scaled. Cars24 expects to cross the adjusted net revenue of Rs 750 crore in H2 FY26, implying around 35% YoY growth, as it continues to prioritise earnings quality over headline GMV growth.

Groww posts Rs 547 Cr profit on Rs 1,216 Cr revenue in Q3 FY26

EntrackrEntrackr · 1m ago
Groww posts Rs 547 Cr profit on Rs 1,216 Cr revenue in Q3 FY26
Medial

Digital investment platform Groww on Wednesday reported its first set of quarterly results since listing on the stock exchanges. The company posted a 25% rise in revenue during the third quarter, although its profit declined by 28% over the same period. The company’s revenue from operations increased to Rs 1,216 crore in Q3 FY26 from Rs 974.5 crore in the same quarter last year, according to its financial statement sourced from NSE. Other income contributed an additional Rs 45 crore, which drove its total income to Rs 1,261 crore for the quarter. On a quarter-on-quarter basis, the company’s income rose by 19% from Rs 1,019 crore in Q2 FY26. However, for the nine months period ending December 2025, the firm’s revenue remained flat at Rs 3,139 crore. On the expense side, employee benefit was the largest burn which accounted for 30% of the total expense at Rs 157 crore in Q3 FY26. Finance cost stood at Rs 10 crore, while depreciation cost added Rs 9 crore to the total expense which stood at Rs 515.5 crore in Q3 FY26. Groww’s net profit decreased by 28% to Rs 547 crore in Q3 FY26 as compared to Rs 757 crore in Q3 FY25. For the nine months period ending December 2025, the company reported a profit of Rs 1,397 crore. Sequentially, Groww reported a 16% surge in net profit (PAT) to Rs 547 crore in Q3 FY26 from Rs 471 crore in Q2 FY26. The year-on-year decline was largely due to a one-time gain (net of taxes) of Rs 315 crore booked in Q3 FY25. Groww made a strong debut on the Indian stock exchanges in November last year, listing at Rs 114 per share on the BSE, a 14% premium over its issue price despite a muted grey market premium (GMP) of around 3%. On the NSE, the stock opened at Rs 112. Groww India’s share is trading at Rs 158 (as of 12:51 PM), giving the company a total market capitalization of Rs 97,595 crore ($11.21 billion).

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