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

News on Medial

Related News

NBFC Namdev Finvest raises $37 Mn from FMO, IIX, others

EntrackrEntrackr · 19d ago
NBFC Namdev Finvest raises $37 Mn from FMO, IIX, others
Medial

Jaipur-based non-banking finance company (NBFC) Namdev Finvest has raised $37 million (approximately Rs 324 crore) through a combination of listed non-convertible debentures (NCDs) and external commercial borrowings (ECB). The round included participation from FMO, IIX, Franklin Templeton AIF India, and Symbiotics. FMO, the Dutch Entrepreneurial Development Bank, contributed $20 million (around Rs 180 crore), while Impact Investment Exchange's (IIX) Women's Livelihood Bond 7 (WLB7) invested $8 million (approximately Rs 71 crore). The company also raised $2.3 million from Franklin Templeton Alternative Investments Fund India (Franklin Templeton AIF) and $6.5 million from Symbiotics. Previously, Namdev Finvest raised $15 million in a Series B funding round in January 2024, co-led by British International Investment (BII), LC Nueva AIF, and existing investor Incofin India Progress Fund. It had earlier raised $4.7 million in September 2021 and $7.5 million in October 2022. The funds will be used to expand its MSME lending operations across rural and semi-urban markets in India, the company said in a press release. Founded in 2013 by Jitendra Tanwar, Namdev Finvest provides loans to MSMEs, vehicle owners, climate-friendly commuters, rooftop solar customers, and women entrepreneurs. The company works with public, private, and small finance banks, international financial institutions, and domestic lenders to diversify its funding sources. Namdev Finvest focuses on borrowers in Tier III and smaller cities across India. It operates in nine states. The company said it aims to improve access to credit, support employment generation, and contribute to financial inclusion. According to Namdev Finvest, the platform supports MSME lending with a focus on climate-aligned and green finance. It plans to expand its operations and support entrepreneurs across the country.

Knight Fintech raises $23.6 Mn in Series A round led by Accel

EntrackrEntrackr · 1m ago
Knight Fintech raises $23.6 Mn in Series A round led by Accel
Medial

Knight Fintech raises $23.6 Mn in Series A round led by Accel Mumbai-based banking infrastructure startup Knight Fintech has raised $23.6 million in a funding round led by Accel, with participation from IIFL and Rocket Capital. Existing investors Prime Venture Partners, 3One4 Capital, Commerce VC, and Trifecta Capital also took part in the round. Knight Fintech’s total funding now stands at $30 million. The proceeds will be used to strengthen product capabilities and support international expansion, targeting markets across Asia Pacific and the Gulf region. Founded in 2019, Knight Fintech builds core infrastructure that connects banks, lenders, platforms, and borrowers to enable capital flow across the financial ecosystem. The firm operates products spanning co-lending, digital lending, embedded finance, and treasury management. Its co-lending stack allows banks and large NBFCs to partner with other institutions to originate and distribute loans. It works with financial institutions such as Bank of Baroda, Bank of India, ICICI Securities, IIFL Finance, Bajaj Auto, Muthoot Fincorp, and NABARD. Knight Fintech currently supports over 150 partnerships across 85 lenders. According to the company, its platform has facilitated more than $7 billion in loan disbursements and manages over $5 billion in active assets. Its treasury management software handles liquidity, risk, borrowings, and investments, with assets worth over $125 billion managed through the system. Over the next four years, Knight Fintech aims to scale annual revenues to $85–100 million and expand assets under management beyond $50 billion.

Symbiotics leads $18 Mn debt round in Dugar Finance

EntrackrEntrackr · 1m ago
Symbiotics leads $18 Mn debt round in Dugar Finance
Medial

Symbiotics leads $18 Mn debt round in Dugar Finance Dugar Finance, an impact-led secured MSME lender, has raised $18 million (about Rs 160 crore) in a debt funding round led by Swiss-based investor Symbiotics, with participation from leading Indian banks including Union Bank of India, Karur Vysya Bank, Indian Overseas Bank, Tamilnad Mercantile Bank, and STCI Finance among others. Symbiotics contributed $5.5 million in this round. It had previously raised $3 million in debt from the $75-million Green Basket Bond issued by Symbiotics Investments back in June this year. The fresh funds will be allocated to strengthen its secured MSME lending and support its expansion into Tier-2 to Tier-6 markets across India, Dugar Finance said in a press release. Led by Ramesh Dugar, Dugar Finance is an impact-focused, non-deposit-taking NBFC operating across multiple states in India with a strong presence in tier 3 and tier 4 markets. The company specializes in secured MSME and commercial vehicle financing aimed at income generation, supporting micro-entrepreneurs, small businesses, and first-time commercial vehicle drivers who remain underserved by formal credit. Dugar Finance focuses on disciplined underwriting, strong governance, and prudent risk management, and it aims to continue to deepen its institutional lender relationships. It is emphasized on building a resilient, scalable lending platform designed to support long-term economic activity in India’s growth corridors. The Chennai-based company currently operates across six states, serving semi-urban and rural customers. Its portfolio includes income-generating secured MSME loans and commercial vehicle loans, supporting micro-entrepreneurs, small businesses, and first-time commercial vehicle drivers. It aims to scale more than 75 branches and Rs 600 crore AUM by FY27 and Rs 2,000 crore AUM by FY29, while maintaining its strong financial performance, including an RoA of above 4% and Gross NPAs below 2%.

BankBazaar raises Rs 55 Cr, partners with Muthoot Fincorp to enter gold loan segment

EntrackrEntrackr · 9m ago
BankBazaar raises Rs 55 Cr, partners with Muthoot Fincorp to enter gold loan segment
Medial

BankBazaar raises Rs 55 Cr, partners with Muthoot Fincorp to enter gold loan segment BankBazaar has secured Rs 55 crore ($6.44 million) in fresh funding from a group of investors, including Muthoot Fincorp and existing investor Walden International. Earlier in April 2024, the Chennai-based company had raised Rs 80 crore ($9.6 million) in its ongoing Series D round via private placement. The fresh investment was made at a valuation of around Rs 1,700 crore (approximately $200 million). Muthoot Fincorp alone invested Rs 15 crore in this round. With the investment from Muthoot Fincorp, BankBazaar’s total equity funding has risen to $116 million. According to BankBazaar co-founder Adhil Shetty, this funding is a continuation of the company’s previous round from December 2023. He stated that the round remains open as the company explores further options. In FY24, the company recorded a 63% growth in its co-branded credit card business and expects to maintain a 46% annual revenue growth rate between FY22 and FY25. According to Shetty, the company is on track to reach EBITDA profitability for the full year in FY25. BankBazaar offers co-branded credit cards with Yes Bank. Along with the funding, BankBazaar has partnered with Muthoot Fincorp to enter the gold loan segment.

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