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Noida's Sindhuja Microcredit raises $14.5M led by GAWA Capital, Oikocredit
IndianStartupNews
·
1y ago
Medial
Noida-based microfinance firm, Sindhuja Microcredit, has raised $14.5 million in a Series C funding round with participation from GAWA Capital and Oikocredit, along with existing investors. The company aims to expand its services to rural areas and female borrowers in India's underserved farming community. It plans to use the funding to expand into new regions, introduce new product lines, and achieve 50% business growth by 2025. Founded in 2018, Sindhuja Microcredit has provided micro-loans to over 400,000 self-employed women micro-entrepreneurs across India.
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Sindhuja Microcredit raises Series C from two European institutions
VCCircle
·
1y ago
Medial
Indian microfinance institution Sindhuja Microcredit has raised $14.5m in a series C funding round from Spanish impact investment firm GAWA Capital and Dutch social impact investor Oikocredit. The funds will be used to expand the company's business in existing and new geographies. Sindhuja Microcredit provides micro-loans to rural and semi-urban entrepreneurs and also offers business loans to traders, shopkeepers and farmers. The company currently has 235 branches and has secured almost INR2.42bn ($32.4m) from institutional investors since its launch in 2018.
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Sindhuja Microcredit raises Rs 120 Cr in Series C round
Entrackr
·
1y ago
Medial
New generation microfinance firm Sindhuja Microcredit has raised $14.5 million (Rs 120 crore) in its Series C round from GAWA Capital (through its vehicle Huruma Fund) and Oikocredit. Earlier to this round, the company had raised a Series B funding round of $8.7 million from Norway-based Nordic Microfinance Initiative (NMI) and Carpediem Capital in May 2020. It closed its Series A round of $4 million from Carpediem Capital in March 2019. The new proceeds will be used to expand the business in its existing and new geographies as well as new product lines, the company said in a press release. Promoted by Abhisheka Kumar and Malkit Singh Didyala, Sindhuja Microcredit provides microfinance to skilled women entrepreneurs who lack capital. The Noida-based company also provides business loans to traders, shopkeepers and farmers for working capital needs or for expanding their businesses. Within six years of operation, Sindhuja claims to have provided micro-loans to over 400,000 self-employed women micro-entrepreneurs across nine states in northern, eastern and western parts of India. The company currently operates 235 branches with over Rs 10 billion in Assets under Management (AUM).
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Impact investor Oikocredit elevates exec as Asia equity head
VCCircle
·
6m ago
Medial
Oikocredit, a Netherlands-based social impact investor, has appointed a new head for its equity investments in Asia. This change comes after Anirudh Sarda, the former head, departed earlier this month to join ValueQuest, an indigenous investment firm. Oikocredit is known for investing in companies like Sindhuja Microcredit, Annapurna Finance, and Avanti Finance, among others, and continues to focus on social impact through its strategic investments in the region.
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Carpediem Capital makes first bet in over a year, backs co-working space firm
VCCircle
·
5m ago
Medial
Carpediem Capital, a mid-market private equity firm, has made its first investment in over a year by backing a co-working space provider. Previously focusing on companies like Biryani Blues and Sindhuja Microcredit, Carpediem's new investment marks a return to action after a quiet 2024, during which it did not add any new companies to its portfolio. This strategic move aligns with growing trends and demand in the flexible workspace sector.
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Kaleidofin raises $13.8 Mn led by Rabo Partnerships
Entrackr
·
10m ago
Medial
Fintech startup Kaleidofin has raised $13.8 million in a new round led by Rabo Partnerships B.V. Existing backers Michael & Susan Dell Foundation, Oikocredit, Omidyar Network India and Flourish have also participated in the round. This takes the total funds raised by kaleidofin since its inception to $37 million. In May 2022, the Chennai-based startup raised $15 million in its Series B round led by the Michael and Susan Dell Foundation and others in two tranches in the same year. The fresh proceeds will be used to scale its lending portfolio and expand credit scoring, middleware, and risk services through selected partnerships. Led by Sucharita Mukherjee and Puneet Gupta, Kaleidofin offers products such as KaleidoGoals, a goal-based savings solution; KiScore, a supervised machine learning-based automated credit health checking platform for informal sectors; KaleidoCredit, a credit as a platform service for lending and debt capital markets use cases; and KaleidoPay, a suite of inclusive payment solutions. The company claims to have facilitated loan disbursal of cumulatively over $2.7 billion for over 4.7 million customers and small enterprises working in the informal economy, since 2020.
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Noida's EV as a service startup Trigo Electric raises Rs 40L at Indian Angels Show
IndianStartupNews
·
1y ago
Medial
Noida-based startup TriGo Electric has secured angel funding of Rs 40 lakh in equity and debt from investor Ajinkya Firodia, Managing Director of Kinetic Group. The funding was raised through TriGo Electric's participation in 'Indian Angels,' a pioneering OTT angel investment show. The EV-as-a-Service startup plans to use the capital to expand its fleet, strengthen its tech platform, and undertake research and development initiatives. TriGo Electric offers electric two-wheeler fleets to ride-sharing and delivery companies with the aim of promoting emission-free last-mile deliveries in India.
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PE-backed lenders Jana Small Finance Bank, Capital SFB drop in trading debut
VCCircle
·
1y ago
Medial
Jana Small Finance Bank and Capital Small Finance Bank, both backed by private equity and venture capital firms, had disappointing debuts on the stock market. Jana Small Finance Bank listed with a 4.3% discount while Capital Small Finance Bank listed with an 8% discount. Despite strong oversubscription, the weak debuts resulted in lower-than-expected market capitalization for both banks. Jana SFB raised INR 462 crore through its IPO, providing an exit to Gawa Capital and partial exits to The Rohatyn Group and Hero group's family office. Capital SFB raised INR 450 crore and included an offer for sale by Amicus Capital and Oman India Joint Investment Fund.
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Decoding Atlum Credo’s $40 Mn primary and secondary round
Entrackr
·
1y ago
Medial
Digital payments company Altum Credo recently announced $40 million in its Series C round led by Z3Partners and Oikocredit. Apart from primary capital, the company also offered partial exit to its backers. While the company didn’t disclose any details besides round size and investors, Entrackr has reviewed its regulatory filings to decode details such as round break up, shareholding, valuation, and secondary component in the deal. The board at Altum Credo has passed a special resolution to issue 300 equity and 1,99,99,700 Series C CCPS at an issue price of Rs 114 each to raise Rs 228 crore or $27 million as a primary capital, its regulatory filing accessed through the Registrar of Companies shows. Oikocredit and Z3 Partners (BII) invested Rs 80 crore and Rs 85 crore while British International Investment, Amicus Capital, and Avishkaar India pumped in Rs 26 crore, 12 crore, and 25 crore, respectively, in primary fundraising. According to the shareholder agreement between investors, there is also a secondary transaction where 1,03,96,040 shares have been sold worth Rs 118.5 or $14 million. Out of Rs 118.5 crore of secondary transactions, ABF (Avishkar Bharat Fund) sold Rs 79 crore worth of shares while promoters sold Rs 13.54 crore worth of shares. PS Pai and family purchased Rs 79 crore worth of shares in the secondary transactions from Avishakkar Bharat Fund and promoters. According to TheKredible’s estimates, the company has been valued at around Rs 1165 crore or $149 million post-allotment. Altum Credo provides financial accessibility for first-home buyers across semi-urban and rural areas of India. It provides home loans in the range of Rs 4 lakh to Rs 40 lakh for a tenure of 5-20 years. Following the fresh proceeds, Avishkaar remains the largest external stakeholder with 15.92% followed by Amicus Capital. Oikocredit and Z3 Partners command 7.62% and 8.09% stake of the company. Head to TheKredible for the complete shareholding pattern. While the company is yet to file its financial statements for FY24, Altum Credo’s revenue from operations scaled 102.4% to Rs 67.2 crore in FY23. As per TheKredible, its profit shot up 99% to Rs 8.95 crore during FY23.
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Crypto Fantasy GameFi Kandle Raises $1.7 Million In Seed Funding Led By Saama
OutlookIndia
·
2y ago
Medial
The seed funding round was led by Saama, with participation from PointOne Capital, Cloud Capital, Good Capital, Founder’s Room, Seeders Fund, and Sumit Gupta
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Fintech startup Ramp raises $300M at a 28% lower valuation of $5.8B
TechCrunch
·
1y ago
Medial
Fintech startup Ramp has raised $300 million in a funding round co-led by existing backer Thrive Capital and new investor Sands Capital at a post-money valuation of $5.8 billion
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