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Exclusive: Lendingkart set to raise $100 Mn in Series F

EntrackrEntrackr · 18d ago
Exclusive: Lendingkart set to raise $100 Mn in Series F
Medial

Exclusive: Lendingkart set to raise $100 Mn in Series F Lendingkart, a non-banking financial company (NBFC), provides working capital and business loans to SMEs across India, typically with average ticket sizes ranging between Rs 5–6 lakh. Temasek-owned Fullerton’s newly acquired fintech firm Lendingkart is set to raise Rs 850 crore (about $100 million) in its Series F round. This will be the company’s first significant fundraise since Fullerton bought a majority stake in March. As per regulatory filings sourced from the Registrar of Companies, the board of Lendingkart has approved the issuance of 9,04,160 Series F preference shares at Rs 9,401 per share to mop up the proposed capital. Fullerton Financial will spearhead the round with Rs 511 crore, while Bertelsmann Nederland, Mayfield India, and Saama Capital will contribute Rs 71 crore, Rs 60 crore, and Rs 47 crore, respectively. Grand Anicut, Sistema Asia Fund, India Quotient, Darrin Capital, and a clutch of angels such as co-founders Raichand Lunia and Harshvardhan Lunia, along with Mukul Sachan, will also join the round. According to the filing, the proceeds will be deployed towards expansion and growth initiatives across the firm and its subsidiaries, including its wholly owned unit Lendingkart Finance, along with general corporate purposes. Post-allotment, Fullerton Financial will command 58.35% of the company’s shareholding, while Bertelsmann Nederland, Mayfield India, and Saama Capital will hold 8.20%, 7.25%, and 5.40%, respectively. In a response to Entrackr's queries, a Lendingkart spokesperson said, "Fullerton Financial Private Limited acquired a circa 56% stake in Lendingkart on 27 March 2025. Lendingkart is proposing to raise up to INR 850 crores in its latest capital raise vide preferential offer led by Fullerton Financial Private Limited for its expansion and growth." Lendingkart, a non-banking financial company (NBFC), provides working capital and business loans to SMEs across India, typically with average ticket sizes ranging between Rs 5–6 lakh. The firm claims to have disbursed over Rs 18,700 crore to 300,000+ businesses to date. Before the acquisition, Lendingkart 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. For FY24, the company reported a 36% year-on-year rise in revenue to Rs 1,090 crore, while its profits dipped 5.9% to Rs 175 crore. The firm has not yet filed its FY25 financials.

Nykaa posts Rs 6,386 Cr revenue and Rs 40 Cr PAT in FY24

EntrackrEntrackr · 1y ago
Nykaa posts Rs 6,386 Cr revenue and Rs 40 Cr PAT in FY24
Medial

Online fashion and beauty commerce platform Nykaa showcased a 24.1% growth in scale during the fiscal year ending March 2024. The profit after tax (PAT) for the Falguni Nayar-led firm also rose 90.5% to Rs 40 crore in the same period. Nykaa’s revenue from operations grew 24.1% to Rs 6,386 crore in FY24 from Rs 5,144 crore in FY23, its consolidated financial statements disclosed in the stock exchange filing show. Nykaa On a sequential basis, the firm posted a 6.8% decrease in revenue to Rs 1,668 crore in Q4 FY24 from Rs 1,789 crore in Q3 FY24. The sale of beauty, personal care, fashion and other products and services through various platforms was the sole source of revenue for Nykaa. The firm has 14 subsidiaries and one associate named Earth Rhythm. It also made Rs 30 crore from interest and gain on the financial assets, tallying the total income to Rs 6,416 crore in FY24. For the fashion and beauty commerce platform, the cost of procurement formed 57.4% of the overall expenditure. In line with the scale, this cost grew 27.3% to Rs 3,647 crore in FY24. Its employee benefits, finance, depreciation, legal, advertising cum promotional, conveyance, and other overheads took the overall expenditure up by 23.6% to Rs 6,346 crore in FY24. The 24% scale and prudent cost mechanism helped Nykaa post a 90.5% increase in profit to Rs 40 crore in FY24 from Rs 21 crore in FY23. Its ROCE and EBITDA margins stood at 5% and 1.6%, respectively. On a unit level, Nykaa spent Rs 0.99 to earn a rupee in FY24. Nykaa Just ahead of quarterly and FY24 financial results, Nykaa announced fresh employee stock option (ESOP) options for its employees under the new ESOP scheme. As per Fintrackr’s estimates, the newly added ESOP options were worth around Rs 7 crore. Nykaa is currently trading at Rs 179.2 as of (22nd May at 5.08 pm) with a market cap of Rs 51,171 crore.

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

EntrackrEntrackr · 6m 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.

Fintech firm CASHe’s revenue crosses Rs 560 Cr in FY23; remains profitable

EntrackrEntrackr · 1y ago
Fintech firm CASHe’s revenue crosses Rs 560 Cr in FY23; remains profitable
Medial

CASHe — a personal loan and credit line platform — has grown at a rapid clip in the post-pandemic period which is evident from its scale that crossed Rs 550 crore during the last fiscal year. However, in the process of scaling up, the Mumbai-based company’s profits saw a marginal dip during the period. CASHe’s revenue from operations surged 2.2X to Rs 560.6 crore during the fiscal year ending March 2023 in contrast to Rs 257.5 crore in FY22, according to its consolidated financial statements with the Registrar of Companies. V Raman Kumar-led CASHe is in the business of providing mobile application based loans (financial services segment) and other services like IT enabled services, marketing services, developing & managing outsourced service resolution. CASHe is a personal loan and digital lending platform targeting millennials and Gen Z in India. Besides personal loans, it provides “buy now, pay later” products to salaried individuals through an app and a proprietary underwriting algorithm based on alternate data. It also forayed into the wealth management space with the acquisition of wealthtech platform Sqrrl in May 2022. Revenue from financial services (interest on loans) is the primary source of income which accounted for 93% of its total collections while the remaining came from IT services. The company also earned Rs 17.16 crore via interest and gains on financial assets (non-operating income) in FY23. Including this, the company’s total income rose to Rs 577.75 crore during the year. On the other hand, interest paid on borrowings (finance cost) accounted for 22% of the total expenditure. This cost jumped 2.7X to Rs 122 crore in FY23 from Rs 45.2 crore in FY22. Advertising & promotional cost also grew 2.6X to Rs 42.6 crore during the year while employee benefit expense went up only 11.7% in FY23. The seven-year-old company also booked impairment loss on financial assets worth Rs 202.4 crore during the financial year. Overall, CASHe’s total expenditure spiked 2.4X to Rs 544 crore in FY23 from Rs 222.4 crore in FY22. Head to startup intelligence platform TheKredible for a complete expense breakdown and year-on-year financial performance of the company. The rising expenses of the company impacted its bottom line during the fiscal year. Despite over two-fold growth in scale, CASHe’s profits declined nearly 7% to Rs 26.3 crore in FY23 as compared to Rs 28.3 crore recorded in FY22. The cash burn also impacted its cash outflows from operations which increased 47.4% to Rs 454 crore during FY23. EBITDA margin of the company worsened by 517 BPS to 27.65% during the last fiscal year. On a unit level, CASHe spent Re 0.97 to earn a rupee of operating revenue in FY23. FY22-FY23 FY22 FY23 EBITDA Margin 32.82% 27.65% Expense/₹ of Op Revenue ₹0.86 ₹0.97 ROCE 21.54% 32.20% As per TheKredible, CASHe has raised around $38 million funding to date. This includes Rs 140 crore worth equity funding raised from its Singapore-based holding company TSLC Pte Ltd in January 2022.

Vijya Fintech raises Rs 7 Cr in an angel round

EntrackrEntrackr · 1y ago
Vijya Fintech raises Rs 7 Cr in an angel round
Medial

Wealth tech platform Vijya Fintech Private Limited (VFPL) has raised Rs 7 crore in an angel round bringing the total investment in the company to Rs 15 crore. The investors in the round include Lemon Tech, Lemon Emerging Ventures, Veloce Fintech, and tech experts. VFPL had raised $1 million (around Rs.8.25 crore) from multiple investors in November 2022. The funds will be strategically used in growth initiatives, ramp up go-to-market strategies, and expand market reach, the company said in a press release. Founded by Aakash Bansal, Paresh Paladiya and Rajesh Soni, VFPL’s wealth management platform offers easy integration for investors, distributors, advisors, and stockbrokers, delivering insights and solutions to financial intermediaries. The company said that over 2,000 intermediaries like mutual fund distributors (MFDs), registered investment advisors (RIAs) and stock brokers have been using their platform. The firm also plans to launch MIDASX, an innovative B2B2C marketplace to transform financial interactions.

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