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Exclusive: Finnable to raise Rs 250 Cr in new round

EntrackrEntrackr · 22d 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.

Exclusive: Brick&Bolt valuation soars 3X in new round

EntrackrEntrackr · 7m ago
Exclusive: Brick&Bolt valuation soars 3X in new round
Medial

Tech-enabled construction company Brick&Bolt is raising Rs 16.6 crore (approximately $1.95 million) in its pre-Series B round from Foundamental. Foundamental is a US-based investment firm that has previously invested in Indian companies, including Infra.Market in its Series A round in 2020. The board at Brick&Bolt has passed a special resolution to issue 369 pre-Series B compulsory convertible preference shares at an issue price of Rs 4,50,087 to raise the aforementioned sum, its regulatory filing sourced from the Registrar of Companies (RoC) shows. As per filings, the proceeds will be utilized for immediate working capital and long-term funding requirements for the business. Brick&Bolt provides construction solutions such as complete construction, carpentry, woodwork, kitchen renovations for land and home owners. It operates in Bengaluru, Mysuru, Hyderabad, Chennai, Delhi-NCR and Pune. According to startup data intelligence platform TheKredible, the Bengaluru-based firm has raised approximately $16.5 million to date, led by Surge Ventures, Accel, and Celesta Capital. This includes a $10 million Series A round secured in January 2023 from Accel and Celesta Capital. According to Entrackr’s estimates, the firm will be valued at approximately Rs 891 crore ($105 million) post-allotment, marking a nearly 2.9X increase from around Rs 310 crore ($36.5 million) in its Series A round. Participating investor Foundamental will hold an 8.28% stake. It’s likely to raise additional funds in this round, which may further impact its valuation. The company reported an 81% surge in operating revenue, standing at Rs 42.25 crore for the fiscal year ending March 2024. Notably, it managed to curb losses, which declined by 10% to Rs 31 crore in the last fiscal year (FY24).

Exclusive: Rainmatter Capital-backed Age Care Labs to kick off Series B round

EntrackrEntrackr · 1m ago
Exclusive: Rainmatter Capital-backed Age Care Labs to kick off Series B round
Medial

Exclusive: Rainmatter Capital-backed Age Care Labs to kick off Series B round Eldercare platform Age Care Labs, which operates brands Emoha and Epoch, is raising Rs 50 crore (approximately $6 million) in its Series B round from Cork Products, Plutus Wealth Management, and other investors. The board at Emoha has passed a special resolution to issue 22,87,596 Series B preference shares at an issue price of Rs 218.6 each to raise the amount, according to the company’s regulatory filings sourced from the Registrar of Companies (RoC). As per the filings, the company has already received around Rs 31 crore from Cork Products, Plutus Wealth Management, Founders Collective Fund, Keymarrisa Realtors Private Limited, and individual investors, including Neeraj Aggarwal and Utpal Hemendra Sheth. The remaining funds are expected to be infused shortly. The company said the proceeds will be used to augment its capital base, meet long-term financial requirements, and for general corporate purposes. This appears to be part of a larger Series B round, with the possibility of raising additional capital in the ongoing tranche. As per Entrackr’s estimates, the company will be valued at around Rs 500 crore (approximately $59 million) post-allotment. The valuation could rise further if it secures additional funding in the ongoing round. Age Care Labs, which runs in-home eldercare platform Emoha and assisted-living and dementia care chain Epoch, offers subscription-based services including 24/7 emergency support, health monitoring, wellness programs, and community engagement for seniors. Epoch follows an asset-light model by leasing properties and partnering with operators, while the broader company scales through franchise partnerships, institutional tie-ups, and acquisitions. The two brands together serve over 60,000 seniors across 120 cities. The company has raised over $20 million to date, including an $11 million pre-Series B round in 2023 led by Rainmatter Capital (the investment arm of Zerodha) and Gruhas (a venture capital fund co-founded by Nikhil Kamath and Abhijeet Pai).

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