🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

Exclusive: Oxyzo secures Rs 100 Cr debt

EntrackrEntrackr · 4m ago
Exclusive: Oxyzo secures Rs 100 Cr debt
Medial

Exclusive: Oxyzo secures Rs 100 Cr debt Fintech unicorn Oxyzo has secured Rs 100 crore (approximately $12 million) in debt from AK Capital Finance, a subsidiary of merchant banker A.K. Capital Services Ltd. The boards at Oxyzo allotted 1,00,000 non-convertible debentures to AK Capital at an issue price of Rs 10,000 each to raise Rs 100 crore, its regulatory filing sourced from the Registrar of Companies shows. The aforementioned debentures are issued for a tenure of 24 months and carry an interest rate of 9.75% per annum, the filing added. The proceeds will be used to augment the long-term resources of the company and meet working capital requirements. Oxyzo is the lending arm of B2B e-commerce unicorn OfBusiness, providing customized credit solutions for SMEs. It offers a range of loan products, including term loans, working capital solutions, low-interest rates, and collateral-free credit options. According to data intelligence platform TheKredible, the Gurugram-based company reported operating revenue of over Rs 900 crore and a profit of Rs 290 crore for the financial year ending 2024. Oxyzo’s net profit grew 11.38% to Rs 82.89 crore and sales jumped 27.43% to Rs 282.80 crore in the quarter ended December 2024 (Q3 FY25), compared to Rs 221.93 crore in December 2023. The Ruchi Kalra-led firm achieved unicorn status by raising $200 million in its first external funding round, and it became the first startup to surpass a $1 billion valuation during its Series A round. As per TheKredible, OFB group including promoters holds 74.5% while Alpha Wave is the largest external stakeholder with 7.4% followed by Tiger Global.

4

Related News

Exclusive: Oxyzo clocks Rs 330 Cr PAT on Rs 1,207 Cr revenue in FY25

EntrackrEntrackr · 1m ago
Exclusive: Oxyzo clocks Rs 330 Cr PAT on Rs 1,207 Cr revenue in FY25
Medial

According to consolidated financial statements reviewed by Entrackr, Oxyzo’s operating revenue rose to Rs 1,207 crore in FY25, up from Rs 903 crore in FY24. Following a 58% year-on-year growth in FY24, B2B fintech unicorn Oxyzo Financial Services continued its strong momentum in FY25, recording a 33.7% YoY increase in revenue for the fiscal year ended March 2025. The company also reported a 16.5% rise in profit during the same period. Oxyzo, the lending arm of the industrial goods and services procurement platform OfBusiness, offers credit solutions and loans to small and medium enterprises (SMEs) and startups. Interest income from loan disbursements contributed 95% of its total operating revenue, which rose to Rs 1,141 crore in FY25. The remaining revenue came from fees and commissions. As a lending-focused company, finance costs emerged as the largest expense for Oxyzo, accounting for 58% of its total spending. These costs climbed to Rs 439 crore in FY25, in line with the company's expanding scale. Oxyzo spent Rs 143 crore on employee benefits. Its legal, impairment, administrative, and other operational expenses contributed to a total expenditure of Rs 755 crore in FY25, up from Rs 514 crore in FY24. The combination of topline growth and controlled cost mechanism helped the company post a 16.5% growth in profits, which rose to Rs 339 crore in FY25, compared to Rs 291 crore in the previous fiscal year. Oxyzo raised approximately $200 million in 2022, achieving unicorn status following its Series A round led by Alpha Wave and Tiger Global. The company also plans to raise a fresh round of equity in the second half of FY26 in the range of $100-150 million. According to startup data intelligence platform TheKredible, the OFB group, including its promoters, holds a 74.5% stake, while Alpha Wave is the largest external investor with a 7.4% share, followed by Tiger Global. Its parent OfBusiness is also gearing up for a $1 billion IPO, expected to include a combination of a fresh issue and an offer for sale.

Exclusive: FlexiLoans secures Rs 60 Cr debt from Vivriti AMC

EntrackrEntrackr · 1y ago
Exclusive: FlexiLoans secures Rs 60 Cr debt from Vivriti AMC
Medial

MSMEs-focused fintech lender FlexiLoans has raised Rs 60 crore via non-convertible debt from Vivriti Asset Management. The fresh funds come after a gap of around 20 months for the Mumbai-based company. The board at FlexiLoans has passed a special resolution to issue 6,000 non-convertible debentures (NCDs) at an issue price of Rs 1,00,000 per debenture for a consideration of Rs 60 crore in one or more tranches, as per the company’s regulatory filings with the Registrar of Companies. The company has already received Rs 30 crore as part of the first tranche from Vivitri Emerging Corporate Bond Fund (Vivriti Asset Management). The debt has a rate of interest of 12.9% per annum with a tenure of 31 months. The company intends to utilize the funds for the ongoing business operations. Founded by Deepak Jain, Manish Lunia, Ritesh Jain and Abhishek Kothari, FlexiLoans provides MSMEs access to collateral-free funds through its digital lending platform. The company uses proprietary technology and risk models to score customers and approve loans within 48 hours. FlexiLoans has more than 120 partners including companies like Amazon, Flipkart, BharatPe, Pine Labs, and Mswipe. FlexiLoans has raised over $115 million to date via equity and debt. In June 2022, it raised $90 million in its Series B round through an equity and debt mix from Fasanara Capital, MAJ Invest, and Caravel Group chairman Harry Banga’s family office along with existing shareholders including Sanjay Nayar. FlexiLoans’ revenue from operations surged 110.7% to Rs 108.5 crore during FY23 from Rs 51.5 crore in FY22. The company generates revenue from interest on loans, loan processing fees and other financial charges. As per the startup intelligence platform TheKredible, the company also turned profitable with Rs 6.66 crore profit in FY23 against Rs 10.8 crore loss in FY22.

Oxyzo posts Rs 903 Cr revenue and Rs 291 Cr PAT in FY24

EntrackrEntrackr · 1y ago
Oxyzo posts Rs 903 Cr revenue and Rs 291 Cr PAT in FY24
Medial

B2B fintech unicorn Oxyzo Financial Services recorded 58.4% year-on-year growth during the fiscal year ended March 2024. At the same time, the profits of the Tiger Global-backed company spiked 47% and neared the Rs 300 crore threshold. Oxyzo’s revenue from operations increased to Rs 903 crore in FY24 from Rs 570 crore in FY23, according to the company’s consolidated financial statement reviewed by Entrackr. Oxyzo is the lending arm of industrial goods and services procurement platform OfBusiness which provides credit solutions and loans to small and medium enterprises (SMEs) and startups. Interest received from the disbursement of loans formed 96% of the total operating revenue which increased 61.3% to Rs 866 crore in FY24. The rest of the income came from fees and commissions which grew 50% to Rs 36 crore in FY24. Finance cost became the largest cost center for Oxyzo, forming 61.67% of its overall expenditure. These expenses surged 73.2% to Rs 317 crore in FY24. Oxyzo’s employee benefits also saw a growth of 48.7% during FY24. The firm’s burn on legal cum professional, advertising, technology, and other overheads pushed its total expenditure up by 66.3% to Rs 514 crore in FY24 from Rs 309 crore in FY23. The notable scale and controlled cost helped Oxyzo post a 47% increase in its PAT (profits after tax) to Rs 291 crore in FY24 from Rs 198 crore in FY23. On a unit level, it spent Rs 0.57 to earn a rupee in FY24. Oxyzo claims that it ended FY24 with an approximately Rs 2,600 crore of net worth with post tax return of assets (RoA) of 4.5% and a gross non-performing assets (NPA) of 1.02%. In addition to scaling its balance sheet, the company will continue to invest and grow its debt capital markets platforms for its enterprise clients. FY23-FY24 FY23 FY24 EBITDA Margin 46% 43.4% Expense/₹ of Op Revenue ₹0.54 ₹0.57 ROCE 11% 15% Oxyzo has raised around $200 million in 2022 and entered the unicorn club after its Series A round led by Alpha Wave and Tiger Global. As per the startup data intelligence platform TheKredible, OFB group including promoters holds 74.5% while Alpha Wave is the largest external stakeholder with 7.4% followed by Tiger Global. Like its parent firm, Oxyzo has been quick to latch on to a relevant and profitable service in the B2B market it serves. The rising profitability places it very well to meet its ambitious goal for the debt capital markets platform. It’s the kind of virtuous cycle that investors love, and it should be no surprise to see a spike in valuations here soon.

Exclusive: Zetwerk secures debt from JM Financial

EntrackrEntrackr · 20h ago
Exclusive: Zetwerk secures debt from JM Financial
Medial

B2B e-commerce unicorn Zetwerk has raised Rs 75 crore (around $8.8 million) in debt funding from JM Financial, one of the banks it has reportedly appointed for its planned initial public offering (IPO). As per regulatory filings accessed via the Registrar of Companies (RoC), the company’s board issued 7,500 non-convertible debentures having a face value of Rs 1,00,000 each to raise the above-mentioned amount. Founded by Amrit Acharya, Srinath Ramakkrushnan, Rahul Sharma, and Vishal Chaudhary, Zetwerk connects buyers with suppliers for manufacturing projects. It partners with vendors specializing in fabrication, machining, casting, forging, and galvanizing of machine parts. It’s operational in India, the US, the Middle East, and Southeast Asia. According to startup data intelligence platform TheKredible, the Peak XV-backed company has raised over $850 million to date, including debt. This includes a $67 million Series F round led by Khosla Ventures at a $3 billion valuation, as exclusively reported by Entrackr. Zetwerk plans to raise at least $500 million through its IPO in the next 12 to 24 months, targeting a valuation of around $5 billion. While it has yet to disclose its FY25 numbers, the Bengaluru-based company reported a 26% increase in gross revenue, rising to Rs 14,435.72 crore in FY24 from Rs 11,448.66 crore in FY23. However, during the same period, losses surged 9X to Rs 919 crore, which included exceptional items worth Rs 371.7 crore. In the B2B e-commerce space, Zetwerk competes with Infra.Market, which recently raised $150 million in debt from Mars Growth Capital, and IPO-bound OfBusiness, which recently secured Rs 100 crore in funding. It also rivals Moglix, another unicorn in the segment.

Exclusive: Fintech startup Zype secures debt

EntrackrEntrackr · 1m ago
Exclusive: Fintech startup Zype secures debt
Medial

**Title:** Exclusive: Fintech startup Zype secures debt Fintech platform Zype secured Rs 34 crore ($4 million) in debt funding from existing investors Xponentia Capital through Xponentia Opportunities Fund II. The Zype’s board has allotted 34,000 non-convertible debentures having face value of Rs 10,000 apiece to Xponentia Capital to raise the above mentioned amount, according to its filing with Registrar of Companies (RoC). The proceeds of this debt funding will be used to augment the long-term working capital needs of the company, the filing added. Founded in 2022 by Yogi Sadana, Zype is a fintech platform that provides instant personal loans of up to Rs 2 lakh with flexible repayment options. In addition to lending, it offers a credit analyzer to help users monitor their spending and a bill payment feature that rewards users with cashback. The company claims to have disbursed over 4.5 lakh loans and recorded more than 4.5 million app downloads across iOS and Android platforms. The fintech platform last raised funds in December 2022, securing Rs 146 crore (approximately $17.7 million) from its existing investor, Xponentia Capital. The Mumbai-based company reported Rs 20.3 crore in operating revenue for the fiscal year ending March 2024, while posting a loss of Rs 7.3 crore during the same period. Zype competes with several established personal loan platforms, including KreditBee, which reported a profit of Rs 200 crore in FY24 through its NBFC arm KrazyBee; CASHe, which posted Rs 651 crore in revenue; and Kissht, which recorded Rs 1,674 crore in operating revenue along with a profit of Rs 197 crore in FY24.

Exclusive: Lendingkart raises Rs 100 Cr debt from Stride Ventures

EntrackrEntrackr · 1y ago
Exclusive: Lendingkart raises Rs 100 Cr debt from Stride Ventures
Medial

Small and medium enterprises focused digital lending platform Lendingkart has secured Rs 100 crore ($12 million) in debt and Rs 8 crore (nearly $1 million) in equity from Stride Ventures. This is the second major debt closure by the Ahmedabad-based firm in the past year. The board at Lendingkart has passed a board resolution to issue 10,000 non-convertible debentures and 454 Series D5 CCPS to raise Rs 108 crore or $13 million, its regulatory filing accessed from the RoC shows. As per the filings, the Temasek-backed company has raised Rs 318 crore ($38 million) in debt to date. Lendingkart will receive the debt fund in two tranches of Rs 50 crore ($6 million) each and it will carry a coupon rate of 14% per annum. According to the startup data intelligence platform TheKredible, the company has been valued at around $690 million post-allotment. Just last month, LendingKart raised $10 million through external commercial borrowing (ECBs) from a fund managed by BlueOrchard. As of now, Lenskart has mopped up Rs 1,050 crore ($126 million) in equity capital from investors like Fullerton, Bertelsmann, Mayfield India, Saama Capital, Sistema Asia and India Quotient. Lendingkart disburses loans with an average ticket size of Rs 5 lakh to Rs 6 lakh to MSME business owners. As per its website, it has disbursed over Rs 18,700 crore to over 300,000 businesses present in 4,100 cities. Lendingkart performed well in FY23 as its revenue from operations grew by 33.4% to Rs 858 crore. Meanwhile, the firm also posted Rs 119 crore profit in the same period. It’s yet to file annual financial results for FY24. As per a media report, the company is planning for an initial public offering (IPO) by next year. Lenskart is targeting to cross Rs 10,000 crore in assets under management before going public.

Exclusive: Ola Electric raises Rs 100 Cr debt ahead of IPO

EntrackrEntrackr · 1y ago
Exclusive: Ola Electric raises Rs 100 Cr debt ahead of IPO
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.

Exclusive: FlexiLoans raises $9 Mn debt from JM Financial

EntrackrEntrackr · 11m ago
Exclusive: FlexiLoans raises $9 Mn debt from JM Financial
Medial

MSMEs-focused fintech lender FlexiLoans has raised Rs 75 crore (approximately $9 million) via non-convertible debt from JM Financial. This is the second debt round for the Mumbai-based company this year. The board at FlexiLoans has passed a resolution to issue 7,500 non-convertible debentures to raise Rs 75 crore, according to the company’s internal documents accessed by Entrackr. The debt has a coupon rate (interest) of 12.05% per annum with a tenure of 24 months. The company intends to utilize the funds for the ongoing business operations, the documents added. The debt infusion has come at a time when the firm is set to secure $35 million in funding from late-stage fund Fundamentum, co-founded by Infosys veteran Nandan Nilekani. Founded by Deepak Jain, Manish Lunia, Ritesh Jain, and Abhishek Kothari, FlexiLoans offers collateral-free loans to MSMEs. The firm has raised over $124 million to date in a mix of equity and debt including a $90 million Series B round from Fasanara Capital, MAJ Invest, Caravel Group, among others in June 2022. As per its website, the company has disbursed over Rs 7,000 crore of loans. Besides partnerships with over 400 partners, Flexiloans also lends through its NBFC — Epimoney. The company gives loans in the range of Rs 50,000 to Rs 1 crore with a maximum tenure of 36 months. The fintech firm grew at a fast pace in the fiscal year ending March 2024 as its collection jumped 2.4X year-on-year. Its operating revenue soared to Rs 262 crore in FY24 from Rs 109 crore in FY23. During the period, the company also maintained its profitability with Rs 3 crore PAT. FlexiLoans competes with a clutch of fintech firms including Lendingkart, Indifi, Incred, Oxyzo and Aye Finance.

Download the medial app to read full posts, comements and news.