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Exclusive: Nandan Nilekani’s Fundamentum leads Olyv’s $23 Mn Series C round

EntrackrEntrackr · 6d ago
Exclusive: Nandan Nilekani’s Fundamentum leads Olyv’s $23 Mn Series C round
Medial

url: https://entrackr.com/exclusive/exclusive-nandan-nilekanis-fundamentum-leads-olyvs-23-mn-series-c-round-11090810 Content: Personal lending platform Olyv, formerly known as SmartCoin, has raised Rs 207 crore (around $23 million) in its Series C funding round led by Fundamentum Partnership Fund, with participation from SMBC Asia. The board of Olyv has passed a resolution to allot 10 equity shares and 88,265 Series C compulsorily convertible preference shares at an issue price of Rs 23,506 each to raise the total amount, regulatory filings accessed by Entrackr from the Registrar of Companies (RoC) show. Fundamentum Partnership led the round with an investment of Rs 120 crore (approximately $13.3 million), while SMBC Asia Rising Fund participated with Rs 87.5 crore. According to the filings, the company plans to utilise the proceeds for general corporate purposes. As per Entrackr’s estimates, Olyv is valued at around Rs 1,045 crore, or nearly $117 million, post-money. Following the fresh capital infusion, Lightrock remains the largest external shareholder with a 22.43% stake in the company. The new investor, Fundamentum Partnership Fund, holds an 11.48% stake, while SMBC Asia Rising Fund and 01VC Poseidon Fund own 8.37% and 4.95%, respectively. The company’s co-founders, Rohit Garg, Jayant Upadhyay, Vinay Kumar Singh, and Amit Chandel, collectively hold a 28.48% stake in the company. Founded in 2015, Olyv operates as an online lending marketplace through its website and mobile application. The platform connects borrowers and lenders, offering unsecured loans digitally. The startup’s product portfolio primarily includes small-ticket personal loans catering to micro-merchants, self-employed individuals, small retailers, blue- and grey-collar workers, as well as salaried professionals. For the fiscal year ended March 2025 (FY25), Olyv’s revenue from operations grew 36% year-on-year to Rs 338 crore, compared to Rs 249 crore in FY24. During the same period, the company’s profits more than doubled to Rs 26 crore.

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Apna Mart raises $25 Mn led by Fundamentum and Accel

EntrackrEntrackr · 10m ago
Apna Mart raises $25 Mn led by Fundamentum and Accel
Medial

Exclusive: Apna Mart raises $25 Mn led by Fundamentum and Accel Founded by Abhishek Singh and Chetan Garg, Apna Mart guarantees grocery and FMCG deliveries within 15 minutes, in addition to its brick-and-mortar stores. Apna Mart, a franchise-driven omnichannel grocery and FMCG chain, has raised Rs 214.5 crore (approximately $25 million) in equity and debt led by Fundamentum Partnership Fund and Accel with the participation of existing investors. The board at Apna Mart has passed a special resolution to issue 6,342 Series B compulsory convertible preference shares at an issue price of Rs 2,78,402 to raise Rs 176.5 crore or $20.5 million and 3,800 debentures for Rs 38 crore or $4.5 crore, its regulatory filings sourced from the Registrar of Companies (RoC) show. Fundamentum Partnership Fund is leading the round with Rs 84 crore while Accel India, Peak XV, and Sparrow Capital will invest Rs 60.88 crore, Rs 17.4 crore, and Rs 4 crore, respectively. 2 AM Ventures, Disruptors Capital, and Alteria will invest the rest of the amount. Entrackr estimates Apna Mart's post-allotment valuation at approximately Rs 738 crore ($87 million), an 81% jump from its previous funding round. Founded by Abhishek Singh and Chetan Garg, Apna Mart guarantees grocery and FMCG deliveries within 15 minutes, in addition to its brick-and-mortar stores. Operating across 14 cities—including Ranchi, Hazaribagh, and Bilaspur—the firm utilizes a franchise model to ensure operational efficiency. According to startup data intelligence platform TheKredible, Apna Mart has raised approximately $40 million across multiple funding rounds. Following the latest investment, Accel India remains the largest external stakeholder with a 20.91% stake, followed by Peak XV at 13.06% and Fundamentum at 11.39%. The Bengaluru-based firm recorded an 85.6% year-on-year growth to Rs 59.6 crore of revenue during the previous fiscal year ended March 2024. In pursuit of growth, the losses for the firm also grew 51.4% to Rs 33 crore in the same period. Apna Mart has been working to crack the grocery model through a franchise-led approach with a strong online touch. The company is scaling steadily with solid backing from investors, including Nandan Nilekani’s Fundamentum and Accel, which has doubled down on its investment. Apna Mart certainly seems to be a company to watch in the grocery category for the long haul—a space currently dominated by quick commerce players like Blinkit, Swiggy Instamart, and Zepto.

RailYatri tops up Series C round with over $3 Mn funding

EntrackrEntrackr · 1y ago
RailYatri tops up Series C round with over $3 Mn funding
Medial

Train ticketing platform RailYatri has raised Rs 28.58 crore or $3.44 million in a mix of equity and debt funding round led by Mirabilis Investment Trust. The round also saw participation from NRJN Family Trust, Omidyar Network, and Blacksoil. The board at RailYatri has passed special resolutions to issue 26,663 Series C CCPS at an issue price of Rs 4,720 each and 21,107 Series C CCPS for 5,685 per share for a total consideration of Rs 24.58 crore or $3 million. In a separate resolution, the company also issued 80 non-convertible debentures (NCDs) at Rs 5,00,000 per debenture to raise Rs 4 crore as per the company’s regulatory filings with the Registrar of Companies. Mirabilis Investment Trust spearheaded the round with an infusion of Rs 12 crore. Nandan Nilekani’s NRJN Family Trust and Omidyar Network injected Rs 6.9 crore and Rs 5.69 crore, respectively. Blacksoil joined the round with Rs 4 crore debt funding. As per the startup intelligence platform TheKredible, RailYatri has already raised Rs 13.5 crore from existing investors in the Series C round across multiple tranches during 2022. The company also raised Rs 10 crore in debt from Alteria Capital during the same period. As per TheKredible’s estimates, the company has been valued at around Rs 912 crore or $110 million (post-money). RailYatri has raised over $50 million to date. For more information about the company, visit here. Online travel aggregator (OTA) RailYatri offers train ticket information along with intercity bus service — IntrCity SmartBus which runs on routes such as Delhi–Lucknow, Delhi–Kanpur, Mumbai–Pune, Bengaluru–Hyderabad, and Chennai–Coimbatore among others. RailYatri also launched a ‘flexi-ticket’ feature that allows users to make last-minute changes to their plans when finding a reservation on trains isn’t available. Post-allotment of the round, the NRJN Family Trust is the leading stakeholder in the company with a 22.82% stake. Omidyar Network follows with around 15% shares while co-founder Manish Rathi owns a 13.12% share of the company. For more information, visit here. RailYatri’s revenue from operations surged 2.3X to Rs 273.7 crore during FY23 from Rs 117.2 crore in FY22. Along with improved scale, the company also managed to control its losses which shrank 58.6% to Rs 18.18 crore in FY23 from Rs 43.87 crore in FY22.

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