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OneCard raises Rs 95 Cr debt from Alteria
Entrackr
·
1y ago
Medial
Mobile-first credit card startup OneCard has secured Rs 95 crore ($11.44 million) in debt funding from Alteria Capital. The company, which offers co-branded credit cards and a credit score tracking app, will issue 9,500 Series B debentures to raise the funds. The debt funding will be used for business operations. OneCard became a unicorn in 2022 after a Series D funding round and has seen significant growth in revenue, but also a rise in losses. It competes with Slice and Uni in the co-branded credit card space.
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Alteria Capital announces final close of Fund III at Rs 1,550 Cr
Entrackr
·
1y ago
Medial
Mumbai-headquartered venture debt firm Alteria Capital has announced the final close of its third fund at Rs 1,550 crore (approximately $187 million). The fund was oversubscribed with a target size of Rs 1,000 crore and a green shoe option. Alteria Capital, which has backed startups such as Rebel Foods, BlueStone, OneCard, Ather and Captain Fresh, will continue backing startups across consumer brands, e-commerce, fintech, logistics, business-to-business platforms, rural and agritech, healthcare, and climate tech. It will also evaluate companies in the Gen AI and spacetech segments. While it closed the venture debt scheme at Rs 1,550 crore, the shorter duration scheme, currently under subscription, is expected to raise around $105 million. The shorter duration scheme is likely to see its final close by the end of 2024. It will be available to all portfolio companies with the average cheque size ranging between Rs 3 crore and Rs 100 crore. The fund has already deployed 50% of the total capital commitments to portfolio companies, including OneCard, Renee Cosmetics, Samunnati, Blissclub, Rebel Foods, Giva, Lead School, Kissht, Captain Fresh, Traya, BlueStone and Ather.
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Mumbai-based venture debt firm Alteria Capital announces final close of Fund III at Rs 1,550Cr
IndianStartupNews
·
1y ago
Medial
Mumbai-based venture debt firm Alteria Capital has closed its third fund at Rs 1,550 crore, exceeding its initial target of Rs 1,000 crore. The firm aims to continue supporting startups across various sectors, including consumer brands, fintech, and emerging areas like Gen AI and spacetech. It has already deployed 50% of the fund's capital to ventures such as OneCard and Renee Cosmetics, with a goal to back around 100-125 companies by December 2026. In addition to its venture debt fund, Alteria has introduced a shorter-duration scheme to address the short-term capital needs of startups in the consumer and fintech sectors.
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Alteria Capital infuses 120 crore in OneCard's parent
Livemint
·
1y ago
Medial
Alteria Capital has invested ₹120 crore ($16.2 million) as debt in OneCard's parent company, FPL Technologies. OneCard, a digital credit card platform, aims to improve customer experience through innovative products and personalized offerings. This partnership will accelerate OneCard's growth and expansion in the digital credit card landscape. Alteria Capital, a major debt provider in India, manages around ₹4,250 crores ($571 million) across three funds, with a diverse portfolio of over 170 companies.
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Pratilipi raises ₹10.11 cr from Alteria Capital
Inshorts
·
7m ago
Medial
Bengaluru-based self-publishing platform Pratilipi has raised ₹10.11 crore in a bridge funding round, which was a mix of equity and debt, from Alteria Capital. Out of the ₹10.11 crore, about ₹5 crore was raised in debt and the remaining was equity funding, as per the startups regulatory filings.
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Fintech unicorn OneCard spent Rs 1,000 Cr to earn Rs 500 Cr in FY23
Entrackr
·
1y ago
Medial
Mobile-first credit card startup OneCard has entered the unicorn club after securing $100 million in funding led by Temasek. The funding helped the company achieve a revenue growth of 6.4x to Rs 541 crore in FY23. OneCard provides co-branded credit cards in partnership with banks and offers value-added services such as credit score tracking. The company incurred expenses of Rs 1,000 crore, resulting in losses of Rs 406 crore. OneCard has raised $425 million to date and is valued at $1.3 billion. It is also planning to raise an additional $100 million in funding.
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Rebel Foods raises $13 Mn debt
Entrackr
·
1y ago
Medial
Cloud kitchen brand Rebel Foods has raised Rs 110 crore ($13.2 million) in debt from Alteria and InnoVen Capital. This is the fifth debt funding for the parent company of EatSure (previously Faasos) after its last equity round in 2021. The board at Rebel Foods has passed a special resolution to issue 11,000 Series G1 non-convertible debentures at an issue price of Rs 1,00,000 per debenture to raise Rs 110 crore, regulatory filings with the Registrar of Companies (RoC) show. Orbis Trusteeship (through Alteria) has invested Rs 65 crore while Vistra ITCL ( via InnoVen Capital) pumped in Rs 45 crore during the debt round. The tenure of paying Series G1 debt is up to 01 May 2027. According to filings, each debenture issued in the debt round shall be entitled to the interest of 13.90% per annum. The interest shall be payable on a monthly basis. In April last year, it raised Rs 75 crore ($9 million) in debt from Catalyst Trusteeship (Northern Arc) and Stride Ventures. In 2022, the Mumbai-based firm received Rs 230 crore across three debt fundings. Rebel Foods operates food brands such as Faasos, Behrouz Biryani, Oven Story Pizza, Mandarin Oak, The Good Bowl, and Slay Coffee with more than 450 kitchens in over 70 cities. It has a portfolio of over 45 brands across multiple countries—India, United Arab Emirates (UAE), Saudi Arabia and the UK. The company is planning to take Oven Story Pizza offline and will open 250-300 outlets over the next two-three years. The Jaydeep Barman-led company entered the unicorn club after a $175 million Series F round led by Qatar Investment Authority in October 2021. The Peak XV-backed company raised its last equity round of $14.5 million in November 2021. Rebel Foods’s operating revenue surged to Rs Rs 1,258 crore in FY23 from Rs 856 crore in FY22. According to startup data intelligence platform TheKredible, its losses jumped to Rs 656 crore in FY23 from Rs 564 crore in the previous year. As per media reports, Rebel Foods is planning for an initial public offering (IPO) by 2025, making it the first firm from cloud kitchen space to list on the Indian stock exchange.
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Smartstaff raises 6.2M $ from returning investors
Economic Times
·
2y ago
Medial
The funding included $5,00,000 of debt funding from Alteria Capital, Smartstaff founder and CEO Arpit Dave told ETtech. Alteria Capital was the only new investor in the funding round. SmartStaff provides AI-powered HR solutions to enterprises, including recruitment and employee engagement tools. The investment from returning investors highlights confidence in the company's growth potential and its ability to address the evolving needs of the HR tech market.
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Country Delight raises Rs 200 crore in debt from Alteria Capital
Economic Times
·
9m ago
Medial
Country Delight, a direct-to-consumer fresh foods brand, has secured Rs 200 crore in venture debt from Alteria Capital. The funds will be used for expansion, capacity increase, and brand marketing as the company prepares for its IPO journey. Country Delight, which offers delivery of fresh food essentials through a daily subscription model, serves 1.5 million users across 15 Indian cities. The company had previously raised Rs 164 crore in equity funding from Temasek and has a valuation of $804 million. Venture debt is becoming popular among growing companies looking to finance expansion without diluting equity.
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Exclusive: Ola Electric raises Rs 100 Cr debt ahead of IPO
Entrackr
·
1y ago
Medial
IPO-bound Ola Electric has raised Rs 100 crore (approximately $12 million) in debt from Alteria Capital. This is the second round of debt funding for the Bengaluru-based company in 2024. The board at Ola Electric has passed a special resolution to issue 10,000 non-convertible dentures at an issue price of Rs 1,00,00 each to raise Rs 100 crore, its regulatory filings accessed from the Registrar of Companies (RoC) show. The development comes after two months of its $50 million debt funding from EvolutionX. According to the filings, the debentures have an interest rate of 13.8% per annum with an additional 2% interest per month over and above the coupon rate, in case of default of interest. As per the startup data intelligence platform TheKredible, the Bhavish Aggarwal-led company has raised more than $1 billion across equity and debt and was valued at $5.4 billion during the last round. In December 2023, Ola Electric filed its draft red herring prospectus (DRHP) with the Security Exchange Board of India (SEBI) for an initial public offering (IPO) to raise Rs 5,500 crore ($660 million). As per media reports, the company has also received a green signal from market regulator SEBI for the public listing. Based on the DRHP filed by Ola Electric, Bhavish Aggarwal is the largest stakeholder with 36.94% followed by Soft Bank which commands 21.98% of the company. Tiger Global, Indus Trust, and Alpha Wave own 6.03%, 3.85% and 3.49%, respectively. Ola Electric grew at a rapid clip in FY23 which could be evident from its revenue that surged seven-fold to Rs 2,631 crore as compared to Rs 373 crore in FY22. Meanwhile, its losses increased by 87.76% to Rs 1,472 crore in the fiscal year ending March 2023. In the two-wheeler electric vehicles segment, the SoftBank-backed company competes with Hero Electric, Ather Energy, TVS, among others. As per Vahan data, Ola Electric controls 49% market share in two-wheeler EVs with 37,191 e-scooter registrations in May.
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Exclusive: Bombay Shaving Company Raises INR 24 Cr Debt From Alteria Capital
Inc42
·
1y ago
Medial
Direct-to-consumer grooming and personal care startup Bombay Shaving Company has secured INR 24 crore ($3 million) in debt funding from venture debt fund Alteria Capital. The funding will be used to refine the startup's go-to-market strategy for its razor category, as well as expand its offline presence to 25 cities from the current 12. The startup, which offers products for men's and women's grooming, has raised a total of $48 million in funding to date and reported around INR 178 crore ($23.6 million) in revenue for FY23. It competes with brands like The Man Company and Ustraa in the men's grooming space.
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