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SAVE Microfinance raises $3 Mn via IIXโ€™s WLB7

EntrackrEntrackr ยท 2m ago
SAVE Microfinance raises $3 Mn via IIXโ€™s WLB7
Medial

SAVE Microfinance raises $3 Mn via IIXโ€™s WLB7 SAVE Microfinance, part of the SAVE Group, has raised $3 million in funding through non-convertible debentures (NCDs) from Impact Investment Exchangeโ€™s (IIX) womenโ€™s livelihood bond 7 (WLB7). The proceeds will be used to expand its outreach to underserved communities, particularly low-income women entrepreneurs, by enhancing access to affordable credit and livelihood opportunities. The firm also plans to strengthen its balance sheet, diversify funding sources, and scale responsibly while maintaining a focus on responsible lending, financial literacy, and inclusive growth. Founded as part of SAVE Group, SAVE Microfinance provides microcredit in rural India with a focus on women. Impact Investment Exchange (IIX). The brand claims to have mobilized over $500 million in private capital, impacting more than 160 million lives across 60 countries through gender-focused and climate-aligned investments.

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RapidClaims raises $11 Mn led by Accel

EntrackrEntrackr ยท 6m ago
RapidClaims raises $11 Mn led by Accel
Medial

RapidClaims, a brand that helps hospitals and doctors get paid faster, has raised $11 million to grow its business. The funding includes $8 million in a new round led by Accel and $3 million from earlier investors like Together Fund and top names in healthcare. The proceeds will be used to hire more people and make its product better. RapidClaims uses artificial intelligence (AI) to prevent billing mistakes that often lead to payment delays. Its tools help medical staff code procedures correctly, fix missing information, and catch errors before sending bills to insurance companies. This helps hospitals avoid claim denials and save money, cutting costs by up to 70%. The platform already works across 25 medical specialties and connects easily with over 15 hospital record systems. According to the company, itโ€™s quick to set up, with most hospitals starting in just a few weeks. Unlike older systems that need lots of data, RapidClaims can customize quickly using just a few examples.

Amazon set to axe 14,000 manager roles by 2025 to cut red tape; move to help save $3 billion annually: Report | Mint

LivemintLivemint ยท 1y ago
Amazon set to axe 14,000 manager roles by 2025 to cut red tape; move to help save $3 billion annually: Report | Mint
Medial

- Amazon may cut 14,000 manager roles to save $3 billion annually, according to reports. - CEO Andy Jassy aims to increase the ratio of individual contributors to managers by 15% by March 2025 for more efficient decision-making. - Employees can now report unnecessary procedures via a "bureaucracy tipline" launched by Jassy. - The restructuring plan will reduce nearly 13,834 manager jobs, saving $2.1 billion to $3.6 billion. - Amazon has approximately 1,05,770 managers worldwide, which will decrease to 91,936 by Q1 2025. - Savings from the job cuts will account for approximately 3% to 5% of Amazon's estimated operating profit for the following year.

PowerUp Money raises $7.1 Mn from Accel, Blume and others

EntrackrEntrackr ยท 4m ago
PowerUp Money raises $7.1 Mn from Accel, Blume and others
Medial

PowerUp Money raises $7.1 Mn from Accel, Blume and others. Wealthtech startup PowerUp Money has raised $7.1 million in its first institutional funding round, led by Accel, Blume Ventures, and Kae Capital, with participation from 8i Ventures and DeVC. The proceeds will be used to strengthen its research team, build new advisory products, and scale customer acquisition efforts. Founded in April by Prateek Jindal, ex-cofounder of Uni Cards, PowerUp Money helps users manage their finances with tools like "Power Age," which shows when they can achieve financial freedom and how much they need to save. It offers direct mutual fund investments with advisory support to retail investors via its mobile platform. The startup is rolling out both free and paid subscription models. According to the company, Power Mutual Funds is already tracking over Rs 3,000 crore (~$350 million) in assets across more than 25,000 customers, with strong growth month on month. Originally incubated within Uni Cards, PowerUp has now been spun off as an independent venture, following the funding round. As per sources, Jindal has been working on the new venture since October 2023.

Anicut raises $11 Mn via GIFT City Structure for Private Credit Fund 3

EntrackrEntrackr ยท 1y ago
Anicut raises $11 Mn via GIFT City Structure for Private Credit Fund 3
Medial

Alternative investment firm Anicut Capital has announced the receipt of $11 million in dollar-denominated investments via GIFT City Structure in its Private Credit Fund 3. In September last year, Anicut Capital secured an investment of Rs 50 crore from the Small Industries Development Bank of India (SIDBI) for the Anicut Equity Fund. Within the first year of operations, the fund has already invested in six companies including Earth Rhythm, Neemans, Wheelocity, The Ayurveda Experience, Blue Tokai Coffee and XYXX. The investment structure aims at attracting dollar-denominated investments into India from a diverse group of institutional investors, family offices, and high-net-worth individuals (HNIs) from key global markets including the US, UK, Europe, and the Middle East. The funds are raised in the International Financial Services Centres Authority (IFSC), a statutory authority established by the Government of India to facilitate international investments. The funds received via GIFT City Structure feed into the overall corpus of Rs 1,500 crore that Anicut Capital is currently raising for its third private credit fund. In private credit, Anicut claims to have deployed Rs 3,200 crore to date across mid-sized enterprises since inception.

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