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Figr, ZenStatement, Swara Fincare, three others bag funding

VCCircleVCCircle · 9m ago
Figr, ZenStatement, Swara Fincare, three others bag funding
Medial

- Figr, ZenStatement, Swara Fincare, Humm Care, and Deftouch have successfully raised funding in their respective sectors. - Figr, an AI-powered design platform, secured $2.25 million in Series A funding led by Kalaari Capital. - Sorich, a pharmaceutical packaging company, received a $1 million investment from BizDateUp to optimize production capacity and enhance working capital. - ZenStatement, an AI-powered finance automation and cashflow management platform, raised $1.62 million in seed funding led by 3One4 Capital and Boldcap VC. - NBFC Swara Fincare secured Rs 19.4 crore as part of Series A Funding, aiming to double its assets by the end of the financial year. - Humm Care, a health-tech platform offering employee healthcare benefits, raised an undisclosed amount in a seed round to scale its services and expand its reach. - Deftouch, an Indian game publisher, raised an undisclosed amount in a follow-on round to develop new games and talent for its gaming studio.

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Swara Fincare raises Rs 19.4 Cr in Series A funding

EntrackrEntrackr · 9m ago
Swara Fincare raises Rs 19.4 Cr in Series A funding
Medial

Tech-enabled non-banking financial company (NBFC) Swara Fincare has successfully raised Rs 19.4 crore ($2.3 million) in a Series A funding round led by UC Impower, with participation from Serica Angel Fund. The new funding will be used to promote financial inclusion for micro and small entrepreneurs, expand its distribution network, develop innovative products, and enhance its technology platforms, according to a press release from Swara Fincare. Founded in 2022 by Dev Verma, Mukund Madhav, and Sumit Ranjan, Swara Fincare aims to provide financial services to individuals and entrepreneurs in rural and semi-urban areas of India. Its offerings include customized financing solutions, life, health, and general insurance products, as well as loan account EMI payments and real-time tracking. Swara Fincare focuses on supporting the underbanked population and emerging entrepreneurs in India. The company collaborates with government agencies, NGOs, and other organizations to deliver financial literacy programs, training, and mentorship to its clients. Based in Gurugram, Swara Fincare operates 45 branches across Uttar Pradesh, Haryana, Rajasthan, Bihar, and Uttarakhand, impacting over 35,000 households. The firm has also secured debt support from more than 30 prominent financial institutions and banks, along with three co-lending partnerships to facilitate its growth. Other notable players in the NBFC sector include Funding Societies, Lendingkart, and AYEFin, among others.

Finance automation startup ZenStatement raises $1.6 million in seed funding

Economic TimesEconomic Times · 9m ago
Finance automation startup ZenStatement raises $1.6 million in seed funding
Medial

- Finance automation and cash flow management platform ZenStatement has raised $1.62 million in a funding round led by 3One4 Capital and Boldcap VC. - The company plans to use the funds to increase its product offerings and expand its presence in both India and international markets. - ZenStatement is backed by notable angel investors and business leaders, including former global treasury head of Apple and co-founders of other successful companies. - The AI-powered platform is designed for enterprises with high transaction volumes and provides financial insights through AI-driven natural language queries. - ZenStatement boasts a customer base that includes unicorns and leading companies in digital commerce, retail, and fintech sectors, handling approximately 10 million transactions per month. - Reconciliation is a challenging problem for businesses, and ZenStatement aims to provide a viable solution for finance teams to automate processes and simplify their lives.

Product design startup Figr raises $2.25 million from Kalaari Capital, others

Economic TimesEconomic Times · 9m ago
Product design startup Figr raises $2.25 million from Kalaari Capital, others
Medial

- Product design startup Figr has raised $2.25 million in a funding round led by Kalaari Capital. - The funding will be used to enhance Figr's AI models and expand its product and growth teams. - Figr enables design teams to create UI designs, build wireframes, develop user flows, and establish design systems based on user input. - The platform aims to shorten design timelines and reduce costs by automating repetitive tasks and enabling quick prototyping. - Figr currently has a user base of over 75,000, with 80% of its users outside India. - The startup has raised a total of $2.5 million so far and aims to achieve $1 million in annual recurring revenue within the next year.

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