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Exclusive: Finnable to raise Rs 250 Cr in new round

EntrackrEntrackr · 5m ago
Exclusive: Finnable to raise Rs 250 Cr in new round
Medial

Exclusive: Finnable to raise Rs 250 Cr in new round Digital lending platform Finnable is set to raise Rs 250 crore (approximately $29 million) in its pre-series C round from Matrix Partners, TVS Capital, and India Nippon Electricals Limited. The company has passed a board resolution and allotted 3,35,238 Pre-Series C preference shares at an issue price of Rs 3,788.35 each and secured Rs 127 crore or $14.7 million. During the first tranche of the pre-series C round of Rs 127 crore, Matrix Partners has injected Rs 125 crore, while India Nippon pumped in Rs 2 crore. The remaining funds are expected to be infused shortly, completing the round. The development comes six months after Ranjan Pai’s family office invested Rs 40 crore in the company. According to Entrackr’s estimates, the company would be valued at Rs 1,300 crore or $150 million post-money. Before this round, MEMG Family Office LLP held 18.69% in Finnable, while Matrix Partners India and TVS Shriram Growth owned 14.53% and 8.05%, respectively. Co-founder and CEO Nitin Gupta retained over 24%. The cap table is set to shift with the fresh infusion from Matrix and TVS, alongside dilution of the founders’ stake. Founded in 2016 by ex-bankers Nitin Gupta, Amit Arora, and Viraj Tyagi, Finnable is a Bengaluru-based fintech startup offering personal loans to salaried professionals. The company is at the AUM of Rs 3,000 crore and has served over 2.7 lakhs customers. Finnable has yet to file its FY25 numbers. In FY24, the company posted a revenue of Rs 181.7 crore with losses of Rs 5.88 crore.

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Exclusive: Ranjan Pai’s MEMG-backed Finnable to raise new round

EntrackrEntrackr · 1y ago
Exclusive: Ranjan Pai’s MEMG-backed Finnable to raise new round
Medial

Finnable’s board has approved a special resolution to issue 92,831 preference shares at an issue price of Rs 3,290.95 each, raising Rs 30.55 crore, according to its regulatory filing accessed from the RoC. Digital lending platform Finnable is set to secure Rs 30.55 crore ($3.7 million) in a Series B funding round led by TVS Shriram Growth Fund, with participation from Malpani Retails Private Limited, Harsh Anand Jain, Neha Bagaria, Roopjyot Engineering, and other investors. Finnable’s board has approved a special resolution to issue 92,831 preference shares at an issue price of Rs 3,290.95 each, raising Rs 30.55 crore, according to its regulatory filing accessed from the RoC. TVS Shriram Growth and Malpani Retails will infuse Rs 19.40 crore and Rs 4.70 crore, respectively, while Harsh Anand Jain, Neha Bagaria, and other investors collectively will contribute the remaining Rs 6.45 crore. TVS Shriram Growth Fund is a private equity growth-expansion fund managed by TVS Capital. According to startup data intelligence platform TheKredible, Finnable will be valued at around Rs 866 crore (over $100 million) post-allotment. After the Series B round, MEMG Family Office LLP will hold an 18.69% stake in Finnable, while Matrix Partners India and TVS Shriram Growth will own 14.53% and 8.05%, respectively. Founded in 2016 by ex-bankers Nitin Gupta, Amit Arora, and Viraj Tyagi, Finnable is a Bengaluru-based fintech startup offering personal loans to salaried professionals. As of April 2021, Finnable raised $5.77 million over three funding rounds from 12 investors, including Manipal Global and MEMG Family Office. According to TheKredible, MEMG Group held 18.69% of the company as of the last funding round, while CEO Nitin Gupta retained a stake of over 24%. While Finnable has yet to file its annual report for FY24, the firm recorded over Rs 100 crore in revenue and Rs 19.51 crore loss in FY23.

Exclusive: Arya.ag set to raise over Rs 250 Cr in new round

EntrackrEntrackr · 2m ago
Exclusive: Arya.ag set to raise over Rs 250 Cr in new round
Medial

Exclusive: Arya.ag set to raise over Rs 250 Cr in new round Agritech startup Arya.ag is in late-stage talks to raise Rs 250–300 crore ($28–35 million) in a fresh funding round, according to three people aware of the development. “GEF Capital Partners is set to join the new round and has issued a term sheet to Arya.ag. A few other new investors are also looking to participate,” said one of the sources requesting anonymity as talks are private. Over the past year, Arya.ag has closed two fundraises. In July, the company raised $29 million in an equity round, while its agri-commerce arm Aryatech, secured a $19.8 million commitment from the US International Development Finance Corporation (DFC) to guarantee a debt facility. In response to queries sent on Monday, the company said it's in funding talks but the details are incorrect. Founded to streamline agricultural trade, Arya.ag connects buyers and sellers of farm produce by integrating warehouse discovery, farmgate-level storage, finance, and market linkages into a single platform. The company has disbursed over Rs 2,000 crore in loans backed by stored crops, offering farmers access to storage, credit, and a marketplace to sell their produce. For context, Arya.ag reported interest income of Rs 55.4 crore in FY24. The firm has also expanded partnerships with banks for co-lending, processors for value-added commerce, and climate-focused organisations. Looking ahead, Arya.ag plans to scale its geographic presence and deepen its technology capabilities by FY26. For the fiscal year ended March 2025, Arya.ag posted revenue of Rs 447 crore, while its profits widened 70% year-on-year. However, the company turned profitable in H1 FY26, reporting Rs 32 crore in profit after tax. According to the press release, the company reported strong momentum across its businesses. Its storage segment grew 40% year-on-year in H1 FY26, while the fintech arm posted 50% growth. Meanwhile, the consumer business saw its gross volume jump over sevenfold during the same period.

Exclusive: Palmonas set to raise Rs 200 Cr at 4X valuation premium

EntrackrEntrackr · 2d ago
Exclusive: Palmonas set to raise Rs 200 Cr at 4X valuation premium
Medial

Exclusive: Palmonas set to raise Rs 200 Cr at 4X valuation premium Palmonas is set to raise Rs 200 crore (approximately $22 million) in its Series B round led by XPONENTIA Capital, with participation from existing investor Vertex Ventures, according to the company’s internal documents reviewed by Entrackr. Palmonas last raised Rs 55 crore from Vertex Ventures in May last year. Entrackr exclusively reported the fundraise at the time. The company’s filings with the Registrar of Companies (RoC) indicate the fundraise, as its board is set to issue 815 Series B CCPS at an issue price of Rs 13,59,434 each to raise Rs 110 crore. The remaining Rs 90 crore is expected to be raised through a separate filing shortly. XPONENTIA Capital will lead the round with Rs 179 crore, or nearly $20 million, while existing backer Vertex Ventures will invest Rs 21 crore. According to the documents, Palmonas’ valuation is expected to jump 3.8X to Rs 1,950 crore (around $217 million) post-money, compared to over Rs 500 crore in its previous round. New investor XPONENTIA Capital will hold a 10.68% stake after the allotment of the new round. Existing investor Vertex Ventures will command a 14.25% stake whereas the company’s co-founders Pallavi Mohadikar, Amol Patwari, and Shraddha Kapoor will collectively retain around 65% ownership. Queries sent to Palmonas did not elicit a response till the time of publication. We will update the story as and when the company responds. Founded in 2022 by Amol Patwari and Pallavi Mohadikar, Palmonas specialises in demi-fine jewellery such as necklaces, rings, bracelets, earrings, and mangalsutras made from stainless steel with 18k gold vermeil coating. In February last year, Palmonas raised Rs 1.26 crore on Shark Tank India Season 4 from investors Namita Thapar and Ritesh Agarwal, valuing the company at Rs 126 crore post-money. Prior to this, the brand had secured Rs 6 crore in an angel round. In March 2024, it also brought on board Bollywood actress Shraddha Kapoor as a co-founder. For the fiscal year ended March 2025, Palmonas reported a significant jump in its operating revenue, which surged over 40X to Rs 39 crore from Rs 97 lakh in FY24. During the same period, the company also turned profitable, posting a profit of Rs 4.3 crore. Palmonas competes with larger players in the segment, including GIVA, which is raising $12 million in a new round; BlueStone, which went public last year; and Firefly Diamonds, which raised $3 million in a seed round led by WestBridge Capital in March last year. Other competitors include COLUXE, Fiona Diamonds, Limelight Lab Grown Diamonds, and Jewelbox.

Exclusive: Wow! Momo to raise Rs 75 Cr from Singularity AMC

EntrackrEntrackr · 2m ago
Exclusive: Wow! Momo to raise Rs 75 Cr from Singularity AMC
Medial

Exclusive: Wow! Momo to raise Rs 75 Cr from Singularity AMC Quick service restaurant chain Wow! Momo is set to raise another Rs 75 crore ($8.4 million) in its ongoing Series D round from Singularity AMC. This marks the company’s third funding round in 2025, following a Rs 150 crore raise led by Haldiram’s Kamal Agrawal, along with Khazanah and 360 One. Wow! Momo’s board approved the issuance of 7,838 Series D6 CCPS at an issue price of Rs 95,699 each to raise the above-mentioned sum from Singularity AMC, according to its filing with the Registrar of Companies (RoC). As per Entrackr’s estimates, the company will be valued at around Rs 2,838 crore ($316 million) on a post-money basis. The company will utilize the proceeds to fund capital expansion, meet working capital requirements, and for general corporate purposes to support its business growth, the filing added. Launched in 2008 by Sagar Daryani and Binod Homagai, Wow! Momo operates over 700 outlets across 17 cities, housing brands such as Wow! Momo, Wow! China, Wow! Chicken, and Wow! Kulfi. According to startup data intelligence platform TheKredible, Wow! Momo has raised over $140 million to date, including a $42 million Series D round led by Khazanah in January 2024. Following the latest tranche, Singularity AMC will hold a 2.64% stake in the company. For FY24, Wow! Momo posted a 13% year-on-year growth in operating revenue to Rs 470 crore, compared to Rs 413 crore in the previous fiscal, while its losses remained stable at Rs 114 crore. The company has not yet filed its FY25 numbers.

Exclusive: Wint Wealth to raise Series B at Rs 700 Cr valuation

EntrackrEntrackr · 2m ago
Exclusive: Wint Wealth to raise Series B at Rs 700 Cr valuation
Medial

Exclusive: Wint Wealth to raise Series B at Rs 700 Cr valuation Wint Wealth is raising Rs 120 crore (approximately $13.3 million) in its Series B funding round led by Vertex Ventures. This marks the Bengaluru-based startup’s first major fundraise in over three and a half years. Wint Wealth’s board has passed a special resolution to issue 94,047 Series B compulsory convertible preference shares at an issue price of Rs 12,804 each to raise Rs 120 crore or $13.3 million, according to the filings sourced from the Registrar of Companies. Vertex Ventures will lead the round with an investment of Rs 77.52 crore, while Unitary Fund, Eight Roads Ventures, and 3one4 Capital will infuse Rs 18.7 crore, Rs 13 crore, and Rs 8.16 crore, respectively. Zerodha’s incubation arm, Rainmatter, will also participate in the Series B with a Rs 3 crore investment. As per filings, the company plans to utilise the proceeds towards capital expenditure, marketing, and general corporate purposes. Based on Entrackr’s estimates, the wealth management startup is raising fresh capital at a post-money valuation of around Rs 707 crore (nearly $80 million). The company may raise additional capital as part of the Series B round, which could lead to changes in its valuation and shareholding structure. Post this round, Vertex Ventures will hold a 10.96% stake in Wint Wealth, while 3one4 Capital, Unitary Fund, Rainmatter, and ERVI Technology, an arm of Eight Roads Ventures, will own 8.54%, 8.32%, 2.55%, and 1.84%, respectively, according to the filings. Wint Wealth is yet to file its FY25 numbers. In FY24, the company posted Rs 17.2 crore operating revenue with a loss of Rs 18 crore.

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