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Exclusive: StockGro secures Rs 50 Cr debt from Trifecta

EntrackrEntrackr · 5d ago
Exclusive: StockGro secures Rs 50 Cr debt from Trifecta
Medial

url: https://entrackr.com/exclusive/exclusive-stockgro-secures-rs-50-cr-debt-from-trifecta-9780883 Content: Social investment and stock market advisory platform StockGro raised Rs 50 crore ($5.7 million) in debt funding from its existing investor Trifecta Capital. This debt funding follows the Rs 205 crore ($25 million) raised in two tranches in January 2024 from Hindustan Media Ventures and Trifecta Capital. According to filings with the Registrar of Companies (RoC), StockGro’s board approved the issuance of 500 Series B non-convertible debentures at a face value of Rs 10 lakh each, raising Rs 50 crore from Trifecta Capital. Founded in 2020 by former venture capitalist Ajay Lakhotia, the Bengaluru-based StockGro is a fintech platform that simplifies stock market investing through SEBI-registered advisors, offering investment advisory, portfolio management, and educational resources to help users navigate the market. Recently, StockGro has launched Stoxo, India’s first AI-powered stock market research engine. It offers real-time, reliable insights to help retail investors make better decisions. According to startup data intelligence platform TheKredible, the BITCRAFT Ventures-backed company raised over $50 million in both debt and equity, including its $32 million Series A round raised in January 2022. While the company is yet to file its FY25 numbers, its revenue from operations fell 34% to Rs 86.5 crore in FY24 from Rs 131 crore in FY23. During the same period, losses surged 84% to Rs 101 crore.

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Fintech startup Care.fi secures Rs 8 Cr in debt

EntrackrEntrackr · 11m ago
Fintech startup Care.fi secures Rs 8 Cr in debt
Medial

Healthcare-focused fintech startup Care.fi has raised Rs 8 crore in debt capital, securing Rs 5 crore from Wint Wealth and Rs 3 crore in impact debt capital from Caspian The Gurugram-based company had previously raised $2 million (Rs 16 crore) in debt capital from Trifecta Capital, along with an additional $0.6 million (Rs 5 crore) from UC Inclusive Credit three months ago. The fresh funds will be used to ramp up its presence in the market and invest in the betterment of healthcare fintech especially for optimizing the operational end of hospital management, Care.fi said in a press release. Co-founded in 2021 by Sidak Singh and Vikrant Agarwal, Care.fi is a fintech company offering smart financing solutions to hospitals, doctors, and allied suppliers. It bridges the gaps in funding within the healthcare industry. The company addresses the financial needs of healthcare professionals and institutions, facilitating smoother operations and accelerated growth. According to Care.fi, it is currently working with more than 50 hospitals and has helped over 2,000 patients. It claims that its total disbursals increased by 4x, with cumulative disbursals of $48 million (Rs 400 crore) last year. Care.fi has also received an NBFC license within two years of operation. Other major players in this space are CarePay, SaveIn, and Bajaj Finserv Health.

Exclusive: D2C brand Ecosoul secures Rs 45 Cr debt from Bajaj

EntrackrEntrackr · 1d ago
Exclusive: D2C brand Ecosoul secures Rs 45 Cr debt from Bajaj
Medial

Exclusive: D2C brand Ecosoul secures Rs 45 Cr debt from Bajaj Ecosoul, a D2C eco-friendly home essentials startup, has raised Rs 45 crore (approximately $5.2 million) in fresh debt funding from Bajaj Financial Securities. The company last raised a major funding round in October 2022, securing $10 million led by Accel and Singh Capital Partners. The Ecosoul’s board has issued 7,500 compulsory convertible debentures at a face value of Rs 60,000 each to secure Rs 45 crore from Bajaj Financial, according to its regulatory filing accessed from Registrar of Companies (RoC). The proceeds will be used to meet working capital needs and other general corporate purposes, according to the filing. Founded in 2020 by Rahul Singh and Arvind Ganesan, EcoSoul offers eco-friendly home essentials made from sustainable materials such as palm leaves, bamboo, sugarcane bagasse, and PLA. Its product range includes items like bamboo chopping boards, biodegradable cups, and palm leaf plates. The company boasts a portfolio of over 1,800 products, available across 50+ retail stores in more than seven countries, including India, the USA, Vietnam, and China. EcoSoul reported over 40% year-on-year revenue growth, reaching Rs 26.8 crore in FY24, as per its India filings. The company, however, posted a loss of Rs 4.6 crore during the same period. Noida and US-based Ecosoul competes with other sustainable home essentials startups such as CHUK, Delhi-based Ecoware, and Mumbai-based Dinearth, among others.

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.

Exclusive: Oxyzo secures Rs 100 Cr debt

EntrackrEntrackr · 6m 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.

Exclusive: Cleantech firm Hygenco raises Rs 50 Cr debt

EntrackrEntrackr · 9m ago
Exclusive: Cleantech firm Hygenco raises Rs 50 Cr debt
Medial

Cleantech startup Hygenco has raised Rs 50 crore (approximately $6 million) via non-convertible debentures from Trifecta. This is the first debt investment for the Gurugram-based company this year. The board at Hygenco has passed a special resolution to issue 500 debentures at an issue price of Rs 1,00,000 each to raise Rs 50 crore, its regulatory filing sourced from the Registrar of Companies shows. The aforementioned dentures are issued for a tenure of 24 months and carry an interest rate of 14.5% per annum, the filing added. Hygenco specializes in developing and deploying commercial systems for green hydrogen and ammonia production. Its solutions cater to large-scale process industries, marine and terrestrial transportation, and personal mobility sectors. Hygenco secured its first investment of $25 million from the SBI through (Neev II Fund) in October 2022. Media reports suggest the company aims to raise a total of $100 million by the end of this year. The company also partnered with Jindal Stainless to set up the country's first green hydrogen plant. According to startup data intelligence platform TheKredible, SBI, through its Neev II Fund, holds a 49.6% stake in Hygenco. The company's co-founders—Amit Bansal, Anshual Gupta, and Aashish Gupta—collectively own 46.1% of the company. The company was in the pre-revenue stage till the financial year ended March 2023 with a loss of Rs 6.3 crore. Hygenco has yet to file annual results for the previous fiscal year (FY24).

Exclusive: BharatPe receives $10 Mn debt from Trifecta and InnoVen

EntrackrEntrackr · 1y ago
Exclusive: BharatPe receives $10 Mn debt from Trifecta and InnoVen
Medial

Fintech firm BharatPe has raised Rs 85 crore (approximately $10 million) in debt through non-convertible debentures. This is the second debt infusion in the Peak XV and Coatue-backed company in 2024. The board at BharatPe has issued 500 Series E1 debentures at Rs 10,00,000 each and 3,500 Series F1 debentures at Rs 1,00,00 each to raise Rs 85 crore, its regulatory filing with the Registrar of Companies shows. Trifecta Venture debt pumped in Rs 50 crore while Innoven Capital participated with Rs 35 crore, shows filing. As per Entrackr’s sources, BharatPe completed its $100 million debt round early this year. InnoVen Capital was expected to pump in $60-70 million in BharatPe whereas Credit Saison invested the remaining capital in the Delhi-based company’s NBFC arm Trillion Loans. Debt from Innoven could be a part of the above amount. We have reached out to BharatPe to confirm if their investment is new or existing. Sources close to the fintech firm added that BharatPe chose debt as it is close to break-even and didn’t want to dilute equity. BharatPe raised its last equity round in August 2021 when it also checked into the unicorn club. It has raised over $650 million in equity and debt from the likes of Tiger Global, Dragoneer Investment Group, Steadfast Capital, Coatue Management, Ribbit Capital and others. According to TheArch report, BharatPe’s operating revenue increased by 16%, reaching Rs 1,370 crore in FY24, up from Rs 1,029 crore in FY23. The six-year-old company also reported a 70% reduction in losses, bringing them down to Rs 270 crore in the last fiscal year.

Exclusive: Fintech startup Zype secures debt

EntrackrEntrackr · 2m 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.

Consumer lending app RING raises Rs 100 Cr debt from Trifecta Capital

EntrackrEntrackr · 1y ago
Consumer lending app RING raises Rs 100 Cr debt from Trifecta Capital
Medial

Consumer lending app RING has raised Rs 100 crore in venture debt from Trifecta Capital. With this, the Mumbai-based company has marked its first fundraise in 2024. RING will utilize the debt facility for on-lending and growing its balance sheet loan book, the company said in a press release. With this funding, Trifecta is extending its partnership with founders Krishnan Vishwanathan, Ranvir Singh, and the RING team, for a second time and with a larger cheque. Previously, RING secured Rs 50 crore debt from Trifecta in early 2022. As per the data intelligence platform TheKredible, the company’s parent firm OnEMi Technologies has raised over $150 million (equity + debt) to date from the likes of Brunei Investment Agency, Vertex Ventures, Ventureast, and more. NBFC Kissht is also a part of OnEMi Technologies. Business model and legal structure of the company RING provides personal credit to salaried and self-employed individuals in tier I, tier II, and tier III cities. With its own NBFC license and access to third-party balance sheets, RING claims to have achieved an AUM of over Rs 3,000 crore for the financial year ending March 2024, and serves more than 1 crore unique borrowers, the company said in a statement. RING offers loans up to Rs 5 lakh with flexible repayment options. It enables online and offline payments, bill payments, and UPI transactions. Kissht, on the other hand, provides instant credit for purchases at digital points of sale. It partners with NBFCs to offer easy loans through a network of more than 3,000 offline merchants and over 50 online stores in 40 cities. Recent developments In February last year, the website of Kissht was blocked following a notice from the Ministry of Electronics and Information Technology (MeitY) targeting over 200 gambling and lending apps, most of which appeared to be operated from China. Later, however, a government official clarified that this block might have been done inadvertently. It could be due to an error when dealing with apps that sound similar. After witnessing a dip in FY21, Kissht RING’s parent company managed nearly two-fold growth in scale to Rs 1,020.9 crore in FY23 from Rs 513.6 crore in FY22. The company’s profits shrank 5.8% to Rs 59 crore in FY23 against Rs 62.6 crore in FY22, which can be attributed to ESOP-related expenses. Visit here for more information.

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.

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