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Fisdom raises around $5 Mn from existing investor PayU
Inc42
·
1y ago
Medial
Bengaluru-based wealthtech startup Fisdom is raising about $5 Mn from existing investor PayU in its ongoing Series C round. The company recently received $4 Mn from PayU at a post-money valuation of $102 Mn, indicating a downround compared to its previous valuation of $145 Mn. Fisdom offers a wealth management platform that allows users to invest in stocks, mutual funds, and insurance. The startup's net loss narrowed by 36.6% to INR 66.9 Cr in FY23, while its operating revenue increased by 180.6% to INR 56.6 Cr.
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Wealthtech startups Dezerv, Stable Money buck trend to draw VCs
Economic Times
·
1y ago
Medial
Wealthtech startups, including Dezerv, Stable Money, Fisdom, Scripbox, and Angel One, are attracting significant equity funding. Dezerv is close to securing $30 million led by Premji Invest, while Stable Money is set to secure $17 million with RTP Global as the likely lead investor. Fisdom received $5 million from PayU, and Scripbox is reportedly looking to raise $25 million. Angel One intends to raise $240 million for its fintech operations. Wealthtech companies stand out as they have shown profitability and revenue growth, attracting investor attention.
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PayU invests $5 Mn in cross border payments startup BRISKPE
Entrackr
·
1y ago
Medial
Cross-border payments platform BRISKPE has raised $5 million in its seed round from PayU, the payments and fintech business of Prosus. The proceeds will be used to drive product development, talent acquisition, and business expansion, the company said in a press release. Founded by Sanjay Tripathy and Vijay Agicha, BRISKPE is primarily designed to meet the unique requirements of micro, small, and medium enterprises (MSMEs). Its solution empowers these businesses to reduce costs, streamline global operations, and boost their global competitiveness. Mumbai-based BRISKPE claims to have a customer base of more than 1,000 exporters and the company is on a mission to simplify global payments, making them cost-efficient, faster, and easy, while ensuring robust tracking and compliance. New-age startups such as Instarem, EximPe, Salt, Skydo and Payglocal are looking to disrupt the cross-border payments space by making this process affordable for smaller merchants. PayU, which recently received in-principle approval from The Reserve Bank of India (RBI) to operate as a payment aggregator, has backed fintech startups like Indiagold, Fisdom, and Dot, among others.
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Bottomline: Saama Capital-backed Fisdom narrows loss, grows revenue in FY24
VCCircle
·
8m ago
Medial
Fisdom, a technology financial services company backed by Saama Capital, PayU Fintech Investments, and others, has reported a narrower loss and increased revenue for the fiscal year ending March 2024. With a consolidated net loss of INR 57.4 crore, the company showcased positive growth despite a slower pace. Fisdom aims to provide innovative financial solutions through technology.
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Curebay raises $7.5 Mn from Elevar Equity
Entrackr
·
1y ago
Medial
Health-tech platform Curebay has raised Rs 61.8 crore ($7.5 million) in an extension of its Series A round, led by existing investor Elevar Equity. Curebay aims to make healthcare accessible to small towns and villages through its technology-enabled platform and network of e-clinics. The Chennai-based company was valued at around Rs 450 crore ($55 million) post-allotment. Curebay's revenue from operations stood at Rs 63 lakhs during FY23, with losses of Rs 15.95 crore in the last fiscal year.
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Prosus eyes PayU IPO in 2025 after stellar Swiggy listing
TechCrunch
·
7m ago
Medial
Dutch investor Prosus plans to list fintech firm PayU in 2025, shifting its focus to India. PayU, wholly owned by Prosus, had intended to go public this year with a valuation of $5-7 billion. However, the listing is now expected to take place in 2025. PayU recently obtained approval to operate as a payment aggregator after a 15-month regulatory ban. With a valuation of $4.2 billion, PayU competes with Razorpay and PhonePe in India's digital payments market. Prosus is an investor in Indian startups such as Meesho and Urban Company, and more portfolio companies may go public within 18 months.
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CapGrid Solutions raises $5 Mn led by Anicut Capital
Entrackr
·
5m ago
Medial
CapGrid Solutions raises $5 Mn led by Anicut Capital B2B manufacturing startup CapGrid Solutions has raised $5 million (around Rs 45 crore) in a funding round led by Anicut Growth Fund. The round also saw participation from existing investors Nexus Venture Partners and Axilor Ventures. Earlier in January 2023, CapGrid had raised $7 million led by Nexus Venture Partners. The round closed at a valuation of Rs 305 crore after the investment, according to an ET report. The proceeds will be used for global expansion and investments in technology to improve supply chain and operational efficiencies. Founded in 2020 by Tiwari and Himanshu Singh Raghuvanshi, CapGrid helps car part makers and suppliers by making it easier to find and buy the materials they need. It helps OEMs procure precision parts and components from suppliers that it has tied up with. CapGrid currently operates around 11 fulfilment centres and has 50 strategic supply manufacturing partners. The Gurugram-based startup claims to have recorded a revenue of around Rs 99 crore in the last fiscal year and expects to reach Rs 220 crore in FY25.
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Rapido Eyes $100 Mn Funding From WestBridge Capital, Others
Inc42
·
1y ago
Medial
Indian ride-hailing startup, Rapido, is reportedly planning to raise $100 million in funding from existing investor WestBridge Capital and other sources. The company has already received commitments of around $70 million and is approaching Indian family offices for additional support. This funding could potentially raise Rapido's valuation to $900 million. Rapido operates in the bike taxi, auto-rickshaw, cab, and peer-to-peer delivery service segments, with a fleet size of 5 million bike taxis and 700,000 auto-rickshaws. It reported a standalone loss of INR 674.5 crore ($89.8 million) for FY23, a significant increase from the previous year.
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Swiggy backer Prosus looks to list Indian payments firm PayU in 2025
VCCircle
·
8m ago
Medial
Dutch technology investor Prosus is planning to list Indian digital payments and lending firm PayU in 2025, according to its chief investment officer. While the initial plan was to list PayU by the end of 2024, Prosus is still working with the company to determine the best timing. PayU, which is owned by Prosus, recently emerged from a regulatory ban and has plans to list at a valuation of $5 billion to $7 billion. India is an important focus for Prosus, and it expects more of its Indian portfolio companies to go public in the next 12 to 18 months.
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Groww is in acquisition talks with Fisdom, others in diversification bid
Economic Times
·
4m ago
Medial
Groww, India's largest stock broking platform, is in talks to acquire Fisdom, a PayU-backed wealthtech startup, valuing it between $140-160 million. This strategic interest arises as Groww seeks diversification from its core derivative trading business, which faced constraints from new regulatory rules. Amidst this, Groww has witnessed a significant drop in active traders. The acquisition discussions align with Groww's broader plans, including potential IPO considerations and expanding services beyond trading.
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Temasek, Fidelity Infuse $200 Mn Into Lenskart
Inc42
·
1y ago
Medial
Temasek has increased its investment in Lenskart, while Fidelity has joined as a new investor. The transaction valued Lenskart at around $5 billion. Lenskart has received nearly $1 billion in funding in the past 18 months.
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