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Exclusive: Finnable to raise Rs 250 Cr in new round

EntrackrEntrackr ยท 2m ago
Exclusive: Finnable to raise Rs 250 Cr in new round
Medial

Exclusive: Finnable to raise Rs 250 Cr in new round Digital lending platform Finnable is set to raise Rs 250 crore (approximately $29 million) in its pre-series C round from Matrix Partners, TVS Capital, and India Nippon Electricals Limited. The company has passed a board resolution and allotted 3,35,238 Pre-Series C preference shares at an issue price of Rs 3,788.35 each and secured Rs 127 crore or $14.7 million. During the first tranche of the pre-series C round of Rs 127 crore, Matrix Partners has injected Rs 125 crore, while India Nippon pumped in Rs 2 crore. The remaining funds are expected to be infused shortly, completing the round. The development comes six months after Ranjan Paiโ€™s family office invested Rs 40 crore in the company. According to Entrackrโ€™s estimates, the company would be valued at Rs 1,300 crore or $150 million post-money. Before this round, MEMG Family Office LLP held 18.69% in Finnable, while Matrix Partners India and TVS Shriram Growth owned 14.53% and 8.05%, respectively. Co-founder and CEO Nitin Gupta retained over 24%. The cap table is set to shift with the fresh infusion from Matrix and TVS, alongside dilution of the foundersโ€™ stake. Founded in 2016 by ex-bankers Nitin Gupta, Amit Arora, and Viraj Tyagi, Finnable is a Bengaluru-based fintech startup offering personal loans to salaried professionals. The company is at the AUM of Rs 3,000 crore and has served over 2.7 lakhs customers. Finnable has yet to file its FY25 numbers. In FY24, the company posted a revenue of Rs 181.7 crore with losses of Rs 5.88 crore.

Exclusive: Ranjan Paiโ€™s MEMG-backed Finnable to raise new round

EntrackrEntrackr ยท 10m ago
Exclusive: Ranjan Paiโ€™s MEMG-backed Finnable to raise new round
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Finnableโ€™s board has approved a special resolution to issue 92,831 preference shares at an issue price of Rs 3,290.95 each, raising Rs 30.55 crore, according to its regulatory filing accessed from the RoC. Digital lending platform Finnable is set to secure Rs 30.55 crore ($3.7 million) in a Series B funding round led by TVS Shriram Growth Fund, with participation from Malpani Retails Private Limited, Harsh Anand Jain, Neha Bagaria, Roopjyot Engineering, and other investors. Finnableโ€™s board has approved a special resolution to issue 92,831 preference shares at an issue price of Rs 3,290.95 each, raising Rs 30.55 crore, according to its regulatory filing accessed from the RoC. TVS Shriram Growth and Malpani Retails will infuse Rs 19.40 crore and Rs 4.70 crore, respectively, while Harsh Anand Jain, Neha Bagaria, and other investors collectively will contribute the remaining Rs 6.45 crore. TVS Shriram Growth Fund is a private equity growth-expansion fund managed by TVS Capital. According to startup data intelligence platform TheKredible, Finnable will be valued at around Rs 866 crore (over $100 million) post-allotment. After the Series B round, MEMG Family Office LLP will hold an 18.69% stake in Finnable, while Matrix Partners India and TVS Shriram Growth will own 14.53% and 8.05%, respectively. Founded in 2016 by ex-bankers Nitin Gupta, Amit Arora, and Viraj Tyagi, Finnable is a Bengaluru-based fintech startup offering personal loans to salaried professionals. As of April 2021, Finnable raised $5.77 million over three funding rounds from 12 investors, including Manipal Global and MEMG Family Office. According to TheKredible, MEMG Group held 18.69% of the company as of the last funding round, while CEO Nitin Gupta retained a stake of over 24%. While Finnable has yet to file its annual report for FY24, the firm recorded over Rs 100 crore in revenue and Rs 19.51 crore loss in FY23.

Exclusive: Ambak starts Series A round with Rs 69 Cr funding led by Peak XV and Z47

EntrackrEntrackr ยท 8d ago
Exclusive: Ambak starts Series A round with Rs 69 Cr funding led by Peak XV and Z47
Medial

**Exclusive: Ambak starts Series A round with Rs 69 Cr funding led by Peak XV and Z47** Home loan startup Ambak has kicked off its Series A round with Rs 69 crore (approximately $7.84 million) co-led by existing backers Peak XV Partners and Z47 (formerly Matrix Partners) with the participation of DeVC and others. This comes after the company announced $7 million in funding in January 2025 through a combination of Seed and Pre-Series A rounds led by Peak XV Partners. According to its regulatory filing with the RoC, Ambakโ€™s board has issued 3,111 Series A CCPS and 10 equity shares at an issuance price of Rs 2,20,405.6 per share to raise the above-mentioned amount. Peak XV Partners and Z47 co-led the tranche with Rs 26.62 crore or $3 million each, followed by DeVC India and Advantage Technology Fund who invested Rs 6.65 crore and Rs 6.28 crore respectively. Calabasas Ventures, AngelList, Sushmita Mathur, Ojaswa Sharma, Anil Kumar Goteti, and others contributed the remaining amount. According to Entrackrโ€™s analysis, the companyโ€™s valuation has surged by over 76% to Rs 450 crore ($51 million) post-money, compared with its Rs 255 crore valuation in the previous round. Founded in 2023, Ambak streamlines the home loan process through a transparent three-step system that matches customers with the right financiers using Digital Public Infrastructure (DPI) and bank rule engines. Its tech-driven, assisted model simplifies workflows for both borrowers and lending partners. Following the latest infusion, Peak XV remains the largest external shareholder with a 14.9% stake, followed by Surge Ventures and Z47 at 13.95% and 6.25% respectively. The co-founders Raghuveer Malik, Rameshwar Gupta, and Rashi Garg collectively hold 46.23% of the company, according to TheKredible. In its first year of operations, Ambak reported Rs 1.03 crore in operating revenue for the fiscal year ended March 2024 and a loss of Rs 2.11 crore. The company has not yet disclosed its FY25 figures. Last year, several other home finance startups also raised funding, including Easy Home Finance, which secured $35 million led by Ranjan Paiโ€™s family office and Claypond Capital, and Basic Home Loan, which raised $10.6 million, among others.

Z47 stake in Ola Electric falls below 2% after recent partial exit

EntrackrEntrackr ยท 4m ago
Z47 stake in Ola Electric falls below 2% after recent partial exit
Medial

Z47 stake in Ola Electric falls below 2% after recent partial exit Ola Electricโ€™s early backers, Z47 (formerly Matrix Partners India) and Tiger Global Management, have trimmed their stakes in the Bengaluru-based company during the Aprilโ€“June 2025 quarter, as per stock exchange disclosures filed for the period. Z47 reduced its holding from 2.72% to 1.93%, a cut of approximately 0.81 percentage points. Based on an average share price of Rs 41, the VC firm is estimated to have earned around Rs 147โ€“150 crore from the sale. Tiger Global also marginally reduced its stake from 3.45% to 3.24%, with an estimated Rs 39โ€“45 crore. Its remaining stake, held via Internet Fund III, is currently valued at Rs 587 crore. The reduction in its stake in Ola Electric comes as Z47 actively explores secondary stake sales in other portfolio companies, including OfBusiness, Razorpay, and Dailyhuntโ€™s parent VerSe. Despite the partial exits, both Z47 and Tiger Global remain on Ola Electricโ€™s cap table with meaningful minority stakes. SoftBank, AlphaWave, Temasek, and Citigroup are some notable investors in the EV firm. Ola Electricโ€™s revenue continues its downward spiral with yet another sharp drop in the latest quarter. Its revenue from operations decreased by 49.6% to Rs 824 crore in Q1 FY26, compared to Rs 1,644 crore in Q1 FY25. Its grew 23.3% year-on-year to Rs 428 crore during the same period. The company is currently trading at Rs 40.7 per share (as on 02 PM) with a total market capitalization of Rs 17,925 crore ($2.1 billion). Ola Electric also slipped to the third spot in July with 17,848 registrations, down 57% YoY, as its market share fell to 17.35%. Meanwhile, Ather Energy narrowed the gap with 16,231 units and a 15.78% share. The dip adds to Ola Electricโ€™s mounting challenges as rivals like TVS and Bajaj consolidate their positions at the top.

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