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Secured lending NBFC Techfino secures Rs 65 crore funding
Economic Times
·
1m ago
Medial
Bengaluru-based NBFC Techfino has secured Rs 65 crore in equity funding led by Stellaris Venture Partners and Saison Capital. Founded in 2019 by banking veterans, Techfino initially financed education fees and has now expanded to offer loans against property for small businesses. With a current loan book of Rs 225 crore, it plans to increase this to Rs 350 crore. Techfino aims to double its branch count and increase its workforce by 200 employees.
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Techfino raises Rs 65 Cr from Stellaris, Saison Capital
Entrackr
·
1m ago
Medial
Bengaluru-based NBFC Techfino has raised Rs 65 crore (around $7.5 million) in funding from Stellaris Venture Partners and Saison Capital, the venture arm of Credit Saison. The proceeds will be used to expand its branch network, enhance its technology platform, and scale its secured MSME lending business. Techfino offers Loan Against Property (LAP) to MSMEs in tier II and III cities using a branch-led model. It operates in Karnataka, Gujarat, Madhya Pradesh, and Andhra Pradesh. It also provides education loans through a B2B2C model by partnering with educational service providers. Founded by Jayaprakash Patra (ex-ICICI Bank, ING), Rajesh Panda (ex-Standard Chartered), and Ratikant Satapathy (ex-Bajaj Finance), Techfino uses its in-house technology platform for underwriting and collections. The platform integrates external APIs to verify borrower data and improve risk assessment. The company claims to have disbursed over 1 lakh loans and crossed Rs 200 crore in assets under management (AUM). It has been profitable since inception and plans to double its number of branches this year while expanding disbursements and secured lending. The firm expects to expand operations and build a sizable LAP portfolio over the next 3–5 years.
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Student loan fintech startup Kuhoo Finance secures RBI approval for NBFC licence
Economic Times
·
5m ago
Medial
Kuhoo Finance, a WestBridge Capital-backed student loan fintech startup, has secured an NBFC licence from the Reserve Bank of India, permitting loans up to Rs 2 crore for various educational programs. Kuhoo, founded in 2021, utilizes AI-driven models for responsible lending. This approval enhances its capacity to innovate and cater to diverse academic financing needs, competing with other education loan providers like Eduvanz. It raised $20 million in funding in March 2022.
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Loantap secures $6.2 million in fresh funding from July Ventures and existing investors
Economic Times
·
2m ago
Medial
Loantap, a Pune-based digital lending platform, secured $6.2 million in equity funding led by July Ventures with participation from existing investors, bringing its total capital to $26 million. Pivoting from consumer lending to focusing on small businesses, Loantap has significantly reduced its unsecured consumer lending book. The company disburses about Rs 600 crore in loans annually and aims to reach Rs 900 crore by FY26. They have also developed a software stack for financial institutions.
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Exclusive: Fintech startup Zype secures debt
Entrackr
·
1m ago
Medial
**Title:** Exclusive: Fintech startup Zype secures debt Fintech platform Zype secured Rs 34 crore ($4 million) in debt funding from existing investors Xponentia Capital through Xponentia Opportunities Fund II. The Zype’s board has allotted 34,000 non-convertible debentures having face value of Rs 10,000 apiece to Xponentia Capital to raise the above mentioned amount, according to its filing with Registrar of Companies (RoC). The proceeds of this debt funding will be used to augment the long-term working capital needs of the company, the filing added. Founded in 2022 by Yogi Sadana, Zype is a fintech platform that provides instant personal loans of up to Rs 2 lakh with flexible repayment options. In addition to lending, it offers a credit analyzer to help users monitor their spending and a bill payment feature that rewards users with cashback. The company claims to have disbursed over 4.5 lakh loans and recorded more than 4.5 million app downloads across iOS and Android platforms. The fintech platform last raised funds in December 2022, securing Rs 146 crore (approximately $17.7 million) from its existing investor, Xponentia Capital. The Mumbai-based company reported Rs 20.3 crore in operating revenue for the fiscal year ending March 2024, while posting a loss of Rs 7.3 crore during the same period. Zype competes with several established personal loan platforms, including KreditBee, which reported a profit of Rs 200 crore in FY24 through its NBFC arm KrazyBee; CASHe, which posted Rs 651 crore in revenue; and Kissht, which recorded Rs 1,674 crore in operating revenue along with a profit of Rs 197 crore in FY24.
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Solartech startup Aerem raises Rs 100 crore in round led by Japan-based UTEC
Economic Times
·
4m ago
Medial
Solartech startup Aerem secured Rs 100 crore from a funding round led by UTEC, with participation from existing investors. The funds will aid in nationwide expansion, solar financing, platform enhancement, and lending diversification. Aerem, operating in 65 cities, aims to tackle challenges in solar installations by providing comprehensive solutions. Founded in 2021, the company has facilitated over 800 MW in solar projects, focusing on empowering installation partners and promoting rooftop solar adoption.
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True North-backed domestic NBFC adds new investor to cap table
VCCircle
·
1y ago
Medial
A domestic non-banking financial company (NBFC), supported by True North, has secured additional funding from a venture capital firm based in Singapore. True North, a private equity firm, previously raised Rs 1,000 crore for its private credit fund. The NBFC has now attracted a new investor to its shareholder list.
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Exclusive: KreditBee Subsidiary KB NBFC Raises $32 Mn In Debt Funding
Inc42
·
1y ago
Medial
KB NBFC has secured debt funding from Yubi, Dzerv, Neo Group, OfBusiness, SK Finance, and Oxyzo. As a lending partner of KreditBee, KB NBFC joins other partners such as Incred Finance, Vivriti Capital, Northern Arc, and Pay U Finance. KreditBee previously raised $9.4 million in its extended Series D funding round from Advent International, MUFG Bank, and Premji Invest.
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Mintifi secures $180 million from Prosus, others in a mix of primary, secondary capital
Economic Times
·
8m ago
Medial
Mumbai-based lending platform Mintifi has raised $180 million in a fresh equity funding round. PayU parent Prosus and Ontario Teachers' Pension Plan (OTPP) each invested $80 million, while Premji Invest invested $20 million. With this round, Mintifi will be valued at around $825 million. Mintifi provides invoice-backed credit to brands through its non-banking finance company (NBFC) model, serving over 300 brands and offering credit to around 40,000 small businesses. The company has been profitable for the last few years and aims to achieve a net profit of Rs 160 crore in the current fiscal year.
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Fintech lender Zype raises Rs 90 crore in round led by Japanese VC fund Unleash Capital Partners - The Economic Times
Economic Times
·
4d ago
Medial
Mumbai-based digital lending startup Zype raised Rs 90 crore in a funding round led by Unleash Capital Partners, with participation from Xponentia Capital. The funds will support Zype's growth for 12-18 months. The company, which holds an NBFC license, focuses on unsecured personal loans for young salaried consumers. Despite posting a net loss in FY24, Zype aims to achieve profitability by FY26. The startup has disbursed Rs 1,300 crore and manages Rs 400 crore in assets.
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Agri-fintech startup KiVi raises Rs 15Cr led by Caspian Leap for Agriculture Fund, others
IndianStartupNews
·
1y ago
Medial
Agri-fintech startup KiVi has secured Rs 15 crore in a funding round led by Caspian Leap for Agriculture Fund, among other investors. KiVi aims to boost agriculture as a livelihood of choice by providing credit, commerce, and distribution to the farmgate ecosystem. The startup, based at IIT Madras Research Park, operates in Tamil Nadu and Bihar, partnering with lending institutions and corporate buyers. The funds raised will be used to expand its technology platform, establish a wider presence, enhance risk capabilities, and obtain an NBFC license.
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