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IORA raises Rs 8.5 Cr funding from Caspian Debt

Entrackr

Entrackr · 8m ago

IORA raises Rs 8.5 Cr funding from Caspian Debt

IORA raises Rs 8.5 Cr funding from Caspian Debt Founded in 2009 by Swapan Mehra, IORA is an environmental advisory firm with expertise in environmental finance, policy, scientific research, and project implementation. Iora Ecological Solutions (IORA), an enterprise focused on Nature-based Solutions (NbS) for climate action and ecosystem conservation, has raised Rs 8.5 crore (approximately $1 million) in debt funding from Caspian Impact Investments (Caspian Debt). The funds will be used to scale its MegCare agroforestry and land restoration program in Meghalaya, which aims to restore degraded landscapes, improve forest cover, and enhance rural livelihoods through sustainable agroforestry practices, the company said in a press release. According to IORA, MegCare will benefit 80,000 smallholder farmers across Meghalaya through a carbon finance model that links ecosystem restoration with sustainable income generation. IORA claims its solutions for climate change, agriculture, forestry, and biodiversity conservation span 20 million hectares across 27 Indian states, two union territories, and several countries in Southeast Asia, Africa, and South America.

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Fintech startup CredRight raises $9.7 Mn led by Dell Foundation

Entrackr

Entrackr · 2y ago

Fintech startup CredRight raises $9.7 Mn led by Dell Foundation

Fintech startup CredRight has raised Rs 78 crore ($9.7 million) in a funding round involving equity and debt. The Michael & Susan Dell Foundation led the equity capital funding, joined by existing investors like YourNest, Spearhead Capital, 9Unicorns, and Accion Venture Lab. Debt capital funding came from Blacksoil, Caspian Debt, RevX Capital, and Westen Capital. CredRight plans to expand into new areas, enhance its technology, and provide formal finance access to small businesses and MSMEs. The platform, which serves nano entrepreneurs and aims to address the financing gap, has shown significant growth with one of the lowest NPAs in the industry.

BlackSoil-Caspian Debt merger secures RBI nod, awaits NCLT approval

Economic Times

Economic Times · 11m ago

BlackSoil-Caspian Debt merger secures RBI nod, awaits NCLT approval

BlackSoil Capital and Caspian Debt have gained RBI approval for their merger, now pending NCLT clearance. This merger will boost BlackSoil’s lending capabilities to startups, MSMEs, and impact-driven businesses while expanding its reach across major Indian cities. The combined entity will manage assets surpassing Rs 2,000 crore and disbursements over Rs 10,000 crore. BlackSoil and Caspian Debt expect to enhance financial inclusion through their integrated expertise and resources in alternative credit and impact investing.

Fintech startup Care.fi secures Rs 8 Cr in debt

Entrackr

Entrackr · 1y ago

Fintech startup Care.fi secures Rs 8 Cr in debt

Healthcare-focused fintech startup Care.fi has raised Rs 8 crore in debt capital, securing Rs 5 crore from Wint Wealth and Rs 3 crore in impact debt capital from Caspian The Gurugram-based company had previously raised $2 million (Rs 16 crore) in debt capital from Trifecta Capital, along with an additional $0.6 million (Rs 5 crore) from UC Inclusive Credit three months ago. The fresh funds will be used to ramp up its presence in the market and invest in the betterment of healthcare fintech especially for optimizing the operational end of hospital management, Care.fi said in a press release. Co-founded in 2021 by Sidak Singh and Vikrant Agarwal, Care.fi is a fintech company offering smart financing solutions to hospitals, doctors, and allied suppliers. It bridges the gaps in funding within the healthcare industry. The company addresses the financial needs of healthcare professionals and institutions, facilitating smoother operations and accelerated growth. According to Care.fi, it is currently working with more than 50 hospitals and has helped over 2,000 patients. It claims that its total disbursals increased by 4x, with cumulative disbursals of $48 million (Rs 400 crore) last year. Care.fi has also received an NBFC license within two years of operation. Other major players in this space are CarePay, SaveIn, and Bajaj Finserv Health.

BlackSoil Capital Secures ₹65 Crore Funding from FMO & Caspian Founder to Expand MSME Lending

StartupTalky

StartupTalky · 3m ago

BlackSoil Capital Secures ₹65 Crore Funding from FMO & Caspian Founder to Expand MSME Lending

BlackSoil Capital has raised ₹65 crore from FMO and Caspian Founder S. Viswanatha Prasad to bolster MSME lending and alternative credit growth. This funding will enhance BlackSoil's capital base and expand its lending portfolio, supporting climate and agritech businesses. The recent merger with Caspian Debt forms a ₹2,000 crore institution aimed at responsible investing. This investment signifies confidence in BlackSoil's strategic direction, enabling wider credit access and maintaining robust governance and risk management.

OneCard raises Rs 95 Cr debt from Alteria

Entrackr

Entrackr · 2y ago

OneCard raises Rs 95 Cr debt from Alteria

Mobile-first credit card startup OneCard has secured Rs 95 crore ($11.44 million) in debt funding from Alteria Capital. The company, which offers co-branded credit cards and a credit score tracking app, will issue 9,500 Series B debentures to raise the funds. The debt funding will be used for business operations. OneCard became a unicorn in 2022 after a Series D funding round and has seen significant growth in revenue, but also a rise in losses. It competes with Slice and Uni in the co-branded credit card space.

BlackSoil's Ankur Bansal on Caspian merger, future funding plans and possible IPO

VCCircle

VCCircle · 1y ago

BlackSoil's Ankur Bansal on Caspian merger, future funding plans and possible IPO

BlackSoil Capital, an alternative credit provider, recently merged with Caspian Debt, an impact investment lender. With a combined asset base of Rs 2,000 crore, the merger will make BlackSoil Capital a major player in the industry. Ankur Bansal, the co-founder and managing director of BlackSoil, discusses the merger, future funding plans, and the possibility of an IPO.

FincFriends raises Rs 98.5 Cr in debt from other NBFCs

YourStory

YourStory · 8m ago

FincFriends raises Rs 98.5 Cr in debt from other NBFCs

FincFriends Pvt. Ltd., a non-banking financial company, raised Rs 98.5 crore in debt funding to expand operations and enhance its credit offerings for underserved Indian borrowers. The funding, split between Rs 54.5 crore from other NBFCs and Rs 44 crore via non-convertible debentures, will support the development of personalized credit solutions and fintech infrastructure. Amid a slowdown in unsecured credit, fintech players are adopting cautious strategies to navigate the challenging lending landscape.

Caspian Debt and BlackSoil Capital announce merger, creating NBFC with Rs 2,000 Cr AUM

YourStory

YourStory · 1y ago

Caspian Debt and BlackSoil Capital announce merger, creating NBFC with Rs 2,000 Cr AUM

Indian NBFCs Caspian Impact Investments (Caspian Debt) and BlackSoil Capital have announced their merger via a share swap. Following board approval, the combined entity will operate under the BlackSoil name, managing assets exceeding INR 2,000 crore ($270 million). With a collective financing track record of over INR 10,000 crore across more than 450 startups, MSMEs, and companies, the merger aims to enhance market presence and operational efficiency in the alternative credit space. The deal is being advised by Haitong Securities India and BOB Capital Markets.

Pratilipi raises ₹10.11 cr from Alteria Capital

Inshorts · 1y ago

Pratilipi raises ₹10.11 cr from Alteria Capital

Bengaluru-based self-publishing platform Pratilipi has raised ₹10.11 crore in a bridge funding round, which was a mix of equity and debt, from Alteria Capital. Out of the ₹10.11 crore, about ₹5 crore was raised in debt and the remaining was equity funding, as per the startups regulatory filings.

BlackSoil raising fresh capital as merger with Caspian Debt moves forward

VCCircle

VCCircle · 1y ago

BlackSoil raising fresh capital as merger with Caspian Debt moves forward

BlackSoil Capital, a non-banking financial company, is raising fresh equity funding as it progresses with its merger with Caspian Impact Investments Pvt. Ltd (Caspian Debt). This move follows their announcement last September about the planned merger. BlackSoil's co-founder and director, Ankur Bansal, is involved in this strategic financial maneuver intended to bolster their capital structure and expand their financial services. The merger aims to enhance their capabilities in delivering impact investments.

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