🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

Exclusive: BII to invest Rs 70 Cr for additional 3% stake in Altum Credo

EntrackrEntrackr · 10d ago
Exclusive: BII to invest Rs 70 Cr for additional 3% stake in Altum Credo
Medial

British International Investment (BII) will invest another Rs 70 crore ($8.2 million) in housing finance company Altum Credo. This marks its second infusion in a month, following a Rs 100 crore investment last month, exclusively reported by Entrackr. According to filings with the Registrar of Companies (RoC), Altum Credo’s board passed a resolution to issue 40,46,243 Series C1 CCPS at Rs 173 per share to British International Investment, raising Rs 70 crore. British International Investment holds a 9.04% stake before the injection. Now its stake will increase to 12.55%, as per the regulatory filing. While Aavishkaar Capital remains the largest shareholder in the company with a 14.27%. The proceeds from this funding will be used to expand the company’s lending operations and geographic footprint, the filing added. In April last year, Altum Credo raised $40 million through a mix of primary and secondary transactions, led by Z3Partners and Oikocredit. According to startup data intelligence platform TheKredible, the Pune-based company has raised $80 million to date. Entrackr estimates the company’s valuation will reach Rs 1,777.5 crore (around $209 million) post-allotment. Founded in 2016, Altum Credo offers housing finance to economically weaker and low-income groups, providing home loans between Rs 4 lakh and Rs 40 lakh with tenures of 5 to 20 years. The company primarily serves first-time homebuyers in semi-urban and rural India. In the fiscal year ended March 2024, Altum Credo recorded a 67% jump in operating revenue to Rs 112.87 crore, while its profit more than doubled to Rs 20 crore during the same period.

1

Related News

Exclusive: Altum Credo to raise Rs 100 Cr in Series C round

EntrackrEntrackr · 1m ago
Exclusive: Altum Credo to raise Rs 100 Cr in Series C round
Medial

Housing finance company Altum Credo is raising Rs 100 crore (approximately $11.8 million) in its ongoing Series C round from existing investor British International Investment. This will follow its $40 million Series C round in April last year, which comprised $27 million in primary capital and $13 million in secondary transactions, providing a partial exit to its early investors. The board at Altum Credo passed a resolution to issue 57,80,347 Series C1 CCPS at an issue price of Rs 173 each to raise Rs 100 crore, according to its regulatory filing accessed from Registrar of Companies (RoC). The proceeds from this funding will be used to expand the company’s lending operations and geographic reach, filling added. According to Entrackr’s estimates, the company will be valued at Rs 1,694 crore (approximately $200 million) post-allotment, reflecting a 60% increase from its $124 million valuation in the previous fundraise. Founded in 2016, Altum Credo provides housing finance to economically weaker and low-income groups, offering home loans ranging from Rs 4 lakh to Rs 40 lakh for tenures of 5–20 years. It focuses on first-time homebuyers in semi-urban and rural India. According to startup data intelligence platform TheKredible, the Pune-based company has raised $70 million since inception. Following the allotment of this round, British International Investment will be holding a 9.04% stake in the company while its promoters Ganesh Rao, Ashish Tiwari and Vikrant Bhagwat will collectively retain a 18.26% stake. In the fiscal year ended March 2024, Altum Credo posted a 67% increase in operating revenue to Rs 112.87 crore, while its profit more than doubled to Rs 20 crore during the same period. Apart from Altum Credo, players like Aviom, Easy Home Finance, Basic Home Loan, and Andromeda also operate in the same space.

Altum Credo raises $40 Mn in Series C, provides partial exit to early backers

EntrackrEntrackr · 1y ago
Altum Credo raises $40 Mn in Series C, provides partial exit to early backers
Medial

Housing finance company Altum Credo has scooped up $40 million in its Series C funding round led by Z3Partners and Oikocredit. The financing round also saw participation from British International Investment, and existing investors Aavishkaar Capital, Amicus Capital and PS Pai and family. Altum Credo has raised $27 million in equity and facilitated partial exit to Series A investors of $13 million, the company said via press release. The Pune-based company had previously raised $9.8 million in Series A and $12 million in Series B in 2021. The company plans to use the fresh proceeds to achieve AUM growth by strengthening its distribution network and expanding its operation to more cities. Altum Credo provides financial accessibility for first home buyers across semi-urban and rural areas of India. It provides home loans in the range of Rs 4 lakh to Rs 40 lakh for a tenure of 5-20 years. The company added that the average ticket size of the home loan portfolio is at Rs 8.5 lakhs with a tenure of 15 years. With loan-to-value ratio below 50%, the average value of the properties funded is around Rs 15-25 lakhs. Altum Credo largely focuses on unserved and under-served segments, targeting first time homeowners. As of March 2024, Altum Credo had an AUM of Rs 830 crore ($ 100 million) with 93% of their customers belonging to the economically weaker section (EWS) or low-income group (LIG) category. As per startup data intelligence platform TheKredible, Altum Credo’s revenue from operations scaled 102.4% to Rs 67.2 crore in FY23. Significantly, its profit shot up 99% which stood at Rs 8.95 crore during FY23. It is yet to file FY24 financials. Besides, Altum Credo, Aviom, Easy Home Finance, Basic Home Loan, Andromeda also operate in similar space. Venture capital firm Z3 Partners announced the final close of its Fund at Rs 550 crore in January last year. Earlier this week, it invested $9 million in quick service restaurant chain Wow! Momo.

Decoding Atlum Credo’s $40 Mn primary and secondary round

EntrackrEntrackr · 1y ago
Decoding Atlum Credo’s $40 Mn primary and secondary round
Medial

Digital payments company Altum Credo recently announced $40 million in its Series C round led by Z3Partners and Oikocredit. Apart from primary capital, the company also offered partial exit to its backers. While the company didn’t disclose any details besides round size and investors, Entrackr has reviewed its regulatory filings to decode details such as round break up, shareholding, valuation, and secondary component in the deal. The board at Altum Credo has passed a special resolution to issue 300 equity and 1,99,99,700 Series C CCPS at an issue price of Rs 114 each to raise Rs 228 crore or $27 million as a primary capital, its regulatory filing accessed through the Registrar of Companies shows. Oikocredit and Z3 Partners (BII) invested Rs 80 crore and Rs 85 crore while British International Investment, Amicus Capital, and Avishkaar India pumped in Rs 26 crore, 12 crore, and 25 crore, respectively, in primary fundraising. According to the shareholder agreement between investors, there is also a secondary transaction where 1,03,96,040 shares have been sold worth Rs 118.5 or $14 million. Out of Rs 118.5 crore of secondary transactions, ABF (Avishkar Bharat Fund) sold Rs 79 crore worth of shares while promoters sold Rs 13.54 crore worth of shares. PS Pai and family purchased Rs 79 crore worth of shares in the secondary transactions from Avishakkar Bharat Fund and promoters. According to TheKredible’s estimates, the company has been valued at around Rs 1165 crore or $149 million post-allotment. Altum Credo provides financial accessibility for first-home buyers across semi-urban and rural areas of India. It provides home loans in the range of Rs 4 lakh to Rs 40 lakh for a tenure of 5-20 years. Following the fresh proceeds, Avishkaar remains the largest external stakeholder with 15.92% followed by Amicus Capital. Oikocredit and Z3 Partners command 7.62% and 8.09% stake of the company. Head to TheKredible for the complete shareholding pattern. While the company is yet to file its financial statements for FY24, Altum Credo’s revenue from operations scaled 102.4% to Rs 67.2 crore in FY23. As per TheKredible, its profit shot up 99% to Rs 8.95 crore during FY23.

Exclusive: Ayana Renewable to raise Rs 150 Cr from IL&FS Mutual Fund

EntrackrEntrackr · 5m ago
Exclusive: Ayana Renewable to raise Rs 150 Cr from IL&FS Mutual Fund
Medial

Exclusive: Ayana Renewable to raise Rs 150 Cr from IL&FS Mutual Fund Renewable energy firm Ayana Renewable is set to raise Rs 150 crore (approximately $17.4 million) in debt from IL&FS Mutual Fund. This development came a month after the company had signed a share purchase agreement with ONGC-NTPC Joint Venture. The board at Ayana Renewable has passed a special resolution to issue 1,500 non-convertible debentures at an issue price of Rs 10,00,000 each to raise Rs 150 crore, its regulatory filing accessed from the RoC. The funds will be used for debt refinancing, subsidiary support in renewable projects, interest, loans, and other eligible infrastructure needs. Notably, the tenure of these debentures will be 3 years from the date of initial drawdown. Ayana Renewable operates as an asset-heavy IPP, developing and managing solar and wind projects with long-term PPAs. Backed by NIIF and global investors, it funds growth through equity, debt, and bonds while ensuring efficient operations and exploring hybrid energy, battery storage, and green hydrogen. Last month, NIIF, British International Investment, and Eversource Capital signed a share purchase agreement to sell their 100% stake to ONGC NTPC Green Pvt. Ltd. (ONGPL), a 50:50 JV of ONGC Green Ltd. (OGL) and NTPC Green Energy Ltd. (NGEL), for an enterprise value of $2.3 billion. For context, Ayana was set up by BII in 2018 and secured over $700 million from NIIF, BII, and Eversource to date. Last week, CCI approved the above-mentioned share agreement. Ayana's scale saw a modest 4% year-on-year growth to Rs 856 crore in FY24 from Rs 823 crore in FY23. However, the company's profits declined sharply by 42.3% to Rs 45 crore during the same period.

Exclusive: Zetwerk to raise Rs 600 Cr from two co-founders

EntrackrEntrackr · 25d ago
Exclusive: Zetwerk to raise Rs 600 Cr from two co-founders
Medial

url: https://entrackr.com/exclusive/exclusive-zetwerk-to-raise-rs-600-cr-from-two-co-founders-9606334. Content: IPO-bound B2B e-commerce unicorn Zetwerk is raising Rs 600 crore (approximately $70 million) from its promoters through a newly formed entity, Creovate Innovation Private Limited. The company’s board has passed a special resolution to issue 6.46 crore preference shares to facilitate the fund infusion, as per documents reviewed by Entrackr. Creovate Innovation was incorporated in March 2025 by Zetwerk’s co-founders Amrit Pratik Acharya and Srinath Ramakkrushnan. According to the sources, both co-founders will invest equally in this round. As per the Entrackr’s findings, the newly incorporated company (Creovate Innovate) is also raising Rs 650 crore via debt with the likes of Avendus and RV Capital and over 100 other investors. The company has already received Rs 497 crore ($58.4 million) during the round. The fresh proceeds will be used for meeting fund requirements, growth plan, and general corporate purposes, but not limited to capital expenditure, as per the filings. Zetwerk declined to respond to queries sent by Entrackr. The development comes as the Bengaluru-based firm gears up for a $400–500 million IPO, aiming for a valuation of around $5 billion. Zetwerk connects buyers with suppliers for manufacturing projects by partnering vendors specializing in fabrication, machining, casting, forging, and galvanizing of machine parts. It’s operational in India, the US, the Middle East, and Southeast Asian region. Zetwerk has raised over $800 million through a mix of equity and debt funding, including a $70 million Series F round led by Khosla Ventures in December last year, which pegged its post-money valuation at $3 billion. The development was exclusively reported by Entrackr. While it has yet to disclose its FY25 numbers, the company reported a 26% year-on-year increase in gross revenue to Rs 14,436 crore in FY24 from Rs 11,449 crore in FY23. Zetwerk competes with Infra.Market, OfBusiness, and Moglix.

PayPal Ventures-backed Mintoak secures Rs 71 Cr in secondary funding

EntrackrEntrackr · 7m ago
PayPal Ventures-backed Mintoak secures Rs 71 Cr in secondary funding
Medial

PayPal Ventures-backed Mintoak secures Rs 71 Cr in secondary funding Mintoak, a merchant SaaS platform catering to banks and merchant acquirers, has raised Rs 71 crore (around $8.2 million) in a secondary funding round led by Z3Partners. As part of this transaction, Z3Partners will acquire a minority stake from some of Mintoak’s early institutional investors. However, the company did not disclose the names of the investors involved in the secondary transaction. In February 2023, the Mumbai-based startup raised $20 million in its Series A funding round led by PayPal Ventures and others. In December 2022, HDFC Bank acquired a minority stake in the Mumbai-based fintech startup Mintoak for a cash consideration of $3.7 million. It then increased its stake to 7.75% from the current 5.20%. The Mumbai-based firm has raised Rs 192 crore (nearly $25 million) to date. Founded by Raman Khanduja, Rama Tadepalli, and Sanjay Nazareth, the company’s product suite includes a range of SaaS offerings that help banks and merchant acquirers connect with their small and medium enterprise (SME) customers and drive the cross-sell of financial products. The seven-year-old firm claims to serve over 1.5 million merchants across leading banks, including HDFC Bank, SBI, and YES Bank in India and international markets such as Africa and the Middle East. The startup enables merchant acquirers to deploy and rapidly scale their SME base through payments, cross-selling, service, and gamified loyalty campaigns. Mintoak claims to have empowered 3 million merchants across 6 countries in South Asia, Africa, and the Middle East. According to the startup data intelligence platform TheKredible, Mintoak registered Rs 72.59 crore in revenue from operations in FY24 against Rs 42.3 crore in FY23. During the period, its losses jumped twofold to Rs 21.45 crore. Z3Partners invests in high-growth, tech-driven companies across India, focusing on sectors such as consumer tech, fintech, healthtech, SaaS, and tech-enabled businesses. The firm’s portfolio includes companies like Altum Credo, Bhanzu, DealShare, Shipsy, TrueFan, among others. Some of its prior investments have been Bigbasket, OfBusiness, and others.

Exclusive: Alteria infuses Rs 70 Cr debt in Country Delight

EntrackrEntrackr · 1y ago
Exclusive: Alteria infuses Rs 70 Cr debt in Country Delight
Medial

Dairy brand and daily essential brand Country Delight has raised Rs 70 crore ($8.45 million) in debt from Alteria Capital. This is the second debt infusion from the investor in the Gurugram-based firm in 2024. The board at Country Delight has issued 7000 non-convertible debentures (NCDs) at an issue Price Rs 1,00,000 each to raise Rs 70 crore ($8.45 million), its regulatory filing accessed from the Registrar of Companies (RoC) shows. In May, Country Delight raised Rs 76 crore ($9 million) through debt and equity from Alteria Capital. Prior to that, it scooped up $20 million as a part of Series E round in January this year. The company was valued at around $820 million during the equity round. The Chakradhar Gade-led company also saw a secondary transaction in February when Orios Venture Partners made a partial exit by selling 3% stake to Temasek for around Rs 225 crore ($27 million). It was one of the multi-bagger exits for the early-stage VC firm, which also made substantial returns on its investments in BatterySmart. Country Delight is a dairy and grocery startup that offers the delivery of milk, milk products, fruits and vegetables on a subscription basis. The platform engages directly with the farmers without middlemen. It’s operational in Delhi (NCR), Mumbai, Bengaluru, and Chennai, among others. Country Delight’s operating revenue reportedly stood at Rs 650 crore ($78 million) in the first half of the last financial year (FY24). The company is likely to post a significant jump in FY24 from the estimated revenue of Rs 900 crore ($108 million) in FY23. The firm is yet to report FY23 and FY24 numbers officially. Check startup data intelligence platform TheKredible for country Delight’s latest shareholding and funding round breakups. It competes with Akshayakalpa, Milk Mantra, Sid’s Farm and Otipy, among others. While Akshayakalpa already raised $12 million as a part of a larger round in January, Sid’s Farm raised $10 million in Series A in June. Otipy is closing a $10 million round from new and existing investors. Entrackr exclusively reported the development last month.

Download the medial app to read full posts, comements and news.