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FincFriends closes $11.5 Mn debt funding round

EntrackrEntrackr · 21d ago
FincFriends closes $11.5 Mn debt funding round
Medial

FincFriends, a non-banking financial company (NBFC), has secured Rs 98.5 crore ($11.5 million) in debt funding during Q4 FY25. The funding round includes Rs 54.5 crore raised from NBFCs and Rs 44 crore via Non-Convertible Debentures (NCDs). It saw the participation of investors such as IBL Finance, Incred Financial Services, Real Touch Finance, Shine Star Build-Cap, and Western Capital Advisors Private Limited. This funding aims at scaling its reach, operations and introducing new personal credit offerings tailored to the underserved borrowers with limited access to formal financial services, FincFriends said in a press release. FincFriends says that RupeeRedee plays a pivotal role in advancing credit access and creating a financially inclusive ecosystem. With state-of-the-art technology and data-driven insights, it continues to bridge the credit gap for underserved segments. Moreover, with the financial expansion of its lending partner FincFriends, it further plans to empower the borrowers and scale digital innovation in the lending ecosystem. “This funding marks a strategic milestone in our journey to enable accessibility of responsible credit across India. With the valuable trust of our investors, we are positioning our brand to deepen our reach, strengthen fintech infrastructure and develop personalised credit solutions to address the financial realities of underserved communities,” said Artem Andreev, CEO of FincFriends. Launched in 2017, FincFriends is dedicated to delivering financing solutions and providing loans to end customers through a completely digital and secure process. It focuses on ensuring that individuals can easily access hassle-free cash to manage unexpected financial expenses.

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Atomicwork closes Seed round at $14 Mn

EntrackrEntrackr · 10m ago
Atomicwork closes Seed round at $14 Mn
Medial

B2B SaaS startup Atomicwork has raised an additional $3 million in its seed round from Abhinav Dhar, ex-CIO of TransUnion, Prasad Ramakrishnan, CIO and technology leader, Avanish Sahai, former ecosystem leader at Salesforce, ServiceNow, and Google Cloud and Rich Waldron, CEO of Tray. The firm’s existing investors like Storm Ventures, Z47 (formerly Matrix Partners), Blume Ventures, and Neon Fund also participated in the round. This is the second tranche of its seed round. In September last year, Atomicwork had raised $11 million led by Blume Ventures and Matrix Partners India. With this, the total funding for the startup stands at $14 million. The proceeds will be used for enterprise AI agent technology, fuel the firm’s GTM team expansion in the United States over the next three years, the company said in a press release. Founded in September 2022 by Vijay Rayapati, Kiran Darisi, and Parsuram Vijayasankar, Atomicwork provides software that automates workflows under the information and technology (IT), human resources (HR), finance, and other business functions. It helps companies instantly help their employees by collecting tribal knowledge from across the organization – stored in docs, wikis, information systems, email threads, and chat conversations. Previously, Rayapati had founded Minjar which raised $2 million before getting acquired by US-based publicly-listed cloud infrastructure company Nutanix for about $50 million. Blume also invested in Minjar’s initial funding round. Darisi and Vijayasankar were part of the founding team of SaaS unicorn Freshworks.

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