🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

Related News

Exclusive: Fintech startup GrowXCD to raise Rs 200 Cr in Series B

EntrackrEntrackr · 4m ago
Exclusive: Fintech startup GrowXCD to raise Rs 200 Cr in Series B
Medial

Exclusive: Fintech startup GrowXCD to raise Rs 200 Cr in Series B NBFC startups GrowXCD Finance is set to kick off Series B round with Rs 200 crore ($22.7 million) led by Swiss-based Blue Earth Capital with participation from Prosus and existing investors including Lok Capital and UC Impower. Earlier this year, GrowXCD raised Rs 50 crore in its pre-Series B round from Lok Capital and UC Impower. The board at GrowXCD passed a resolution to approve the issue of 1,56,92,344 Series B CCCPS at an issue price of Rs 127.61 each to raise Rs 200.25 crore, according to its regulatory filing accessed from Registrar of Companies (RoC). Blue Earth Capital will lead the round with Rs 105 crore ($12 million), followed by Prosus with Rs 69.4 crore ($7.9 million). Existing investor Lok Capital will invest Rs 21.3 crore ($2.4 million), while UC Impower will join with Rs 4.26 crore and Anshul Agarwal with Rs 25 lakh. A separate filing showed an addition of 10,00,000 options worth Rs 12.76 crore to the ESOP pool, taking its total size to about Rs 43 crore. According to Entrackr’s estimates, the NBFC’s valuation has nearly tripled to around Rs 630 crore ($71.5 million), compared to Rs 215 crore in the previous round. Founded in 2022 by Arjun Muralidharan and Sathish Kumar Vijayan, GrowXCD extends credit to two key segments: micro, small and medium enterprises (MSMEs) and low-income households. Its offerings include small property-backed mortgage loans and short-term unsecured business loans. According to startup data intelligence platform TheKredible, the Chennai-based firm had raised around $12 million prior to this round. Following the latest allotment, Blue Earth Capital will hold 16.7% stake, Prosus 11.04%, while existing investor Lok Capital remains the largest shareholder with 30.84%. For the fiscal year ended March 2025, GrowXCD’s revenue jumped over 7X to Rs 27 crore from Rs 3.73 crore in FY24. During the same period, its losses also widened to Rs 8.17 crore.

Aye Finance to open IPO on Feb 9; sets price band at Rs 122-129

EntrackrEntrackr · 7h ago
Aye Finance to open IPO on Feb 9; sets price band at Rs 122-129
Medial

Aye Finance to open IPO on Feb 9; sets price band at Rs 122-129 Microlending platform Aye Finance has set a price band of Rs 122–129 per equity share for its upcoming initial public offering (IPO), after filing its red herring prospectus (RHP) with the capital markets regulator. According to the RHP, the public issue will open for subscription on February 9 and close on February 11, while the anchor book is scheduled to open on February 6. At the upper end of the price band, the company’s valuation is expected to be around $352 million. According to the company’s filing, Aye Finance will raise Rs 710 crore through a fresh issue and up to Rs 300 crore through offer-for-sale (OFS), aggregating to a total of Rs 1,010 crore IPO. The company’s co-founder Vikram Jetley and promoters such as Alpha Wave India I LP, MAJ Invest Financial Inclusion Fund II, CapitalG LP, LGT Capital Invest Mauritius PCC with Cell E/VP will offload shares via the OFS. Aye Finance had received SEBI’s approval in April, last year. Axis Capital, IIFL Capital, Nuvama and JM Financial are the book-running lead managers for the issue. As per the RHP, Elevation Capital is the largest external shareholder with a 16.03% stake, followed by LGT Capital, which holds 13.99% of the company. Meanwhile, Alpha Wave owns 11.10% of Aye Finance. On the financial side, Aye Finance's revenue from operations increased 21.5% to Rs 407 crore in Q1 FY26, compared to Rs 335 crore in Q1 FY25. However, the company's profit decreased 50% to Rs 30.5 crore in Q1 FY26 with a positive EBITDA of Rs 172 crore in the same period.

Download the medial app to read full posts, comements and news.