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Wealthy raises Rs 130 Cr led by Bertelsmann India Investments

EntrackrEntrackr · 8d ago
Wealthy raises Rs 130 Cr led by Bertelsmann India Investments
Medial

Wealth-management platform Wealthy has raised Rs 130 crore ($14.5 million) in a new funding round led by Bertelsmann India Investments. Its existing investors Shepherd’s Hill Group and Alpha Wave Global also participated. The proceeds will be used to expand Wealthy’s advisor network, improve its product stack, and increase penetration in new markets. It is also expected to strengthen its technology infrastructure and compliance systems as product categories scale. Founded in 2015, Wealthy operates a digital marketplace for financial products and a distribution platform for advisors. The company enables independent financial advisors to sell mutual funds, insurance, fixed deposits, bonds, and other wealth products through its technology stack. According to the company, its AUM has increased from Rs 200 crore to Rs 5,000 crore over the past three years, reflecting strong business expansion. Wealthy now operates 20 offices across India, with a significant presence in major cities such as Bengaluru, Mumbai, Hyderabad, Ahmedabad, Surat, Jaipur, Gurugram, Delhi, Faridabad, Ghaziabad, Lucknow, Kanpur, and Kolkata. The platform claims to process over Rs 300 crore in monthly transactions and works with more than 6,000 mutual fund distributors serving over 100,000 clients. As per TheKredible, Wealthy’s revenue from operations grew to Rs 25 crore in FY25 from Rs 14.5 crore in FY24. The AWI-backed company recorded a net loss of Rs 35 crore in the last fiscal year, compared to Rs 24 crore in FY24.

CredAble raises Rs 30 Cr from SIDBI

EntrackrEntrackr · 1y ago
CredAble raises Rs 30 Cr from SIDBI
Medial

Fintech startup CredAble has raised Rs 30 crore ($3.6 million) in debt funding from SIDBI. The fund will be used to scale up its operations and extend affordable financing solutions to MSMEs and women-led businesses in India, CredAble said in a press release. Founded in 2017 by Nirav Choksi and Ram Kewalramani, CredAble provides working capital to large, mid, and emerging corporates, as well as micro, small, and medium enterprises (MSMEs), and financial institutions. Beyond traditional banking and loan products, the company has built a comprehensive working capital infrastructure for digitising corporate-led financing and underwriting needs. CredAble’s platform hosts over 125 corporate customers, over 3,50,000 small business borrowers, and more than 35 large financial institutions and banks. The company recently had dedicated Rs 200 crore to back women-led enterprises and has supported more than 50 such businesses across India over the course of 10 months. In March, CredAble raised $10 million in a new round from Singapore-based Equentia Natural Resources. It has raised nearly $60 million to date. CredAble’s revenue from operations grew 2.78X to Rs 13.94 crore in FY23 from Rs 4.92 crore in FY22. In pursuit of growth, the losses of the company surged 3.37X to Rs 22.40 crore in FY23 from Rs 6.53 crore in FY22.

Citykart raises Rs 538 Cr led by TPG NewQuest and A91 Partner

EntrackrEntrackr · 6m ago
Citykart raises Rs 538 Cr led by TPG NewQuest and A91 Partner
Medial

Citykart has raised Rs 538 crore ($63 million) in Series B funding, marking one of the biggest capital infusions in the country’s value fashion segment to date. The round was co-led by TPG NewQuest, a secondary private equity platform for Asia within TPG, and A91 Partners, a homegrown investment firm specializing in growth investments. According to the company, about Rs 120 crore is primary capital, with the remaining Rs 418 crore allocated to secondary transactions. Investcorp, an early backer of Citykart, has made a full exit, while India SME Fund continues to hold a minority stake. As per media reports, Investcorp invested Rs 75 crore in 2019 in Citykart’s seed round and will now exit with about Rs 280–300 crore. The primary infusion will enable the company to accelerate expansion in both footprint and product assortment, Citykart said in a press release. Gurugram-based Citykart has opened 12 new stores across India, bringing its total to 137 stores in 91 cities across 11 states. The brand focuses on reaching underserved, budget-conscious markets. With popular in-house labels like Athiya, Nimes, Fumee, and Remise, Citykart now serves over 15 million customers each year and plans to grow to 300 stores. Led by Sudhanshu Agarwal, Citykart is growing at a rate of more than 40% and is aiming to reach Rs 1,300 crore in annual revenue. Last year, Agarwal shared that accessories and general merchandise made up 22% of Citykart’s sales, while men’s wear accounted for 32%, women’s wear 24%, and kids' wear the remaining 22%. He also added that Citykart is eyeing becoming the Primark of Tier II and Tier III cities in India.

VentureSoul closes maiden debt fund at Rs 300 Cr

EntrackrEntrackr · 4d ago
VentureSoul closes maiden debt fund at Rs 300 Cr
Medial

VentureSoul Partners, a SEBI-registered Category II Alternative Investment Fund focused on structured credit solutions for new-economy companies, has announced the attainment of its base fund target of Rs 300 crore. VentureSoul has marked its green-shoe option, with the fund continuing its focus on growth and structured financing opportunities across India’s rapidly evolving new economy landscape. Since October 2024, VentureSoul Partners has completed 15 investments across a diverse mix of high-growth companies in the new economic landscape. With growing participation from domestic family offices, HNIs, and institutional investors, VentureSoul Partners shall continue taking new subscriptions under the green-shoe option until February 2026, which is the targeted final close target. Co-founded in 2023 by Anurag Tripathi, Ashish Gala, and Kunal Wadhwa, VentureSoul provides venture-debt and structured credit solutions to new-economy companies. The firm blends traditional banking credit discipline with data-driven risk assessment to offer customized financing suited to high-growth startups. With a maiden fund targeting a corpus of Rs 600 crore (over 300 crore a greenshoe option), VentureSoul backs companies at Series A or later stages particularly in fintech, B2C, B2B, and SaaS that helps founders reduce equity dilution while fueling scalable growth. The fund is sector-agnostic and aims to be a value-based partner that supports the next generation of India’s technology-enabled businesses.

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