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Invest4Edu raises $3 Mn in seed round from family offices

EntrackrEntrackr · 10m ago
Invest4Edu raises $3 Mn in seed round from family offices
Medial

Invest4Edu, a platform which offers education planning, saving and investment services, has raised $3 million in its seed funding from family offices. The proceeds will be used to ramp up growth and deepen the firm’s impact in the early education planning and financial support domains. Founded by Peeyush Agrawal, Invest4Edu aims to address common anxieties around the rising cost of education, college planning, and long-term payment. Based in Mumbai, Invest4Eduhas claims to have created more than 50,000 user education journeys on the platform within the last year. It has built a network of over 100 business partners across financial services, skill building programs, expert collaborations, and institutional offerings. Through its financial literacy program for youth, the company has trained more than 8,000 young minds on financial literacy, and enabled them to generate work opportunities. The company’s revenue goals include building a $250 million mutual fund AUM and a monthly SIP book of $6 million.

The Money Club raises $2.5 Mn in Series A

EntrackrEntrackr · 7m ago
The Money Club raises $2.5 Mn in Series A
Medial

On-demand liquidity platform The Money Club has raised $2.5 million in a Series A funding round led by Prudent Investment Managers. The round also saw participation from HNIs of Singapore and Dubai, 1Crowd AIF, along with its existing investors, including Venture Catalysts, LetsVenture, Z21 Ventures, and Supermorepheus. The company had previously raised $2.54 million from its existing investors. The fresh funds will be deployed toward developing financial inclusion solutions, expanding technological capabilities, and providing financial empowerment to underserved populations, The Money Club said in a press release. Launched in 2018 by Manuraj Jain, The Money Club provides a fully digital platform that offers its new-to-credit users on-demand liquidity without any physical paperwork. The platform is designed to cater to the unmet financial needs of low-income populations, particularly the 400 million lower middle-class Indians who face significant barriers in accessing traditional financial products. According to the Noida-based company, it enables users from across the country to rotate their savings digitally and access funds on demand in times of need. It runs entirely on UPI rails and collects valuable behavioral data, enabling a dynamic, real-time underwriting model that creates accurate credit profiles using more than 30 unique attributes per transaction. This approach provides 20 times more data than traditional credit models, significantly enhancing the previously non-existent digital footprint of nano-entrepreneurs to bring them under the ambit of the formal financial ecosystem. The Money Club claims to have successfully acquired over 7 lakh users, mostly new to credit, who have rotated approximately Rs 350 crore of their savings to date and generated a digital footprint of over 4.3 million transactions. The platform boasts a 98% user retention rate. It may compete directly or indirectly with other companies in this space, such as myPaisaa, Subspace, and Shriram Chits, among others.

Findi acquires BANKIT to boost financial inclusion in rural India

EntrackrEntrackr · 5m ago
Findi acquires BANKIT to boost financial inclusion in rural India
Medial

Findi acquires BANKIT to boost financial inclusion in rural India. This acquisition underscores Findi’s commitment to India’s fintech sector, particularly in enhancing financial access in rural and semi-urban areas. BANKIT, a fintech company focused on financial inclusion, has been acquired by Findi Ltd. through its majority-owned subsidiary, Transaction Solutions International (India) Pvt Ltd (TSI). Co-founded in 2010 by Amit Nigam and Satyajit Limaye, BANKIT aims to empower the Indian financial landscape by offering a wide range of digital and assisted financial services. It enables users to transfer money to bank accounts, pay utility bills, including telecom, electricity, gas, and water, recharge mobile and DTH, make hotel and travel bookings, and more via agent networks. With a network of over 129,000 outlets and services available in 28 states, covering more than 12,000 pin codes, BANKIT has been a key player in providing banking solutions to underserved communities. This acquisition by Findi aligns with its recent acquisition of Tata Communications' White Label ATM business (Indicash), which will facilitate the deployment of ATMs at merchant touchpoints and expand the suite of services offered to underserved communities. Through this collaboration, Findi and BANKIT aim to expand financial literacy, increase banking accessibility, and drive innovation tailored to the needs of rural India. The acquisition is expected to enhance the development of digital banking services, focusing on financial literacy and accessibility for people in rural areas. Together, BANKIT and Findi plan to make banking services more user-friendly and accessible, helping people with savings, credit, insurance, and other essential financial services. Findi is building a Financial Services Marketplace for the underbanked through its merchant network in India. Currently, Findi, via TSI, operates over 7,500 Brown Label ATMs in partnership with major Indian banks and provides financial and payment services through more than 50,000 merchant partners via its brand FindiPay. The company has also recently acquired Indicash, Tata Communications' White Label ATM business, providing it with Payment Switch capabilities and the ability to deploy its own ATMs at merchant partners.

Recur Club launches Rs 150 Cr fund for D2C brands on QCP

EntrackrEntrackr · 5m ago
Recur Club launches Rs 150 Cr fund for D2C brands on QCP
Medial

Recur Club launches Rs 150 Cr fund for D2C brands on QCP Recur Club, a debt marketplace for startups and SMEs, has launched a Rs 150 crore ($18 million) fund to accelerate the growth of D2C brands in the quick commerce sector. This initiative aims to provide growth and working capital for these brands to acquire additional inventory or boost marketing efforts. The fund targets loan disbursal within seven days. Recur Club’s debt offerings are designed to meet the unique financial needs of businesses across various revenue and profitability stages. The Indian quick commerce market is expected to expand at a CAGR of over 25% leading up to 2030, and the D2C sector is anticipated to exceed $60 billion by 2027. Recur Club says that this new fund aligns with its aim to fuel the growth of ‘Make-in-India’ startups, particularly in the quick commerce segment of the D2C market. Some notable brands that have benefited from its funding include Ustraa and Wellversed. “With more than half of the 300 consumer brands we've financed utilizing quick commerce platforms, it's clear that these businesses are primarily investing in scaling inventory to keep pace with consumer demand and employing strategic marketing efforts,” said Eklavya Gupta, CEO & co-founder of Recur Club. Recur Club offers loans to startups and businesses, ranging from Rs 50 lakhs to Rs 100 crore within 48 hours by linking their financial data. In collaboration with InCred, it has deployed Rs 300 crore in funding aimed at supporting early and mid-stage startups. Recur Club has committed to deploying Rs 2,000 crore in debt funding for startups and SMEs through Recur Scale and Rs 1,000 crore to MSMEs through Recur Swift in this financial year. As part of this initiative, the company has launched its "Recur Scale" facility, which offers up to Rs 100 crore in funding for individual startups or SMEs. Over the last three years, Recur Club has disbursed over Rs 500 crore to D2C businesses, comprising 30% of its overall portfolio and spanning companies with revenues ranging from ₹1 crore to Rs 300 crore. It is backed by institutional investors like InfoEdge Ventures, Village Global, LC Nueva, and Titan Capital.

Zactor Tech raises pre-seed round at valuation of $3 Mn

EntrackrEntrackr · 1y ago
Zactor Tech raises pre-seed round at valuation of $3 Mn
Medial

Financial wellness and literacy brand Zactor Tech has secured an undisclosed amount of funding in its pre-seed round at a valuation of $3 million co-led by HNIs. The funds will be allocated towards product development, user acquisition and financial literacy, Zactor said in a press release. Co-founded in 2023 by Abhishek Walia and Shivam Parihar, Zactor is a digital platform for personal finance. Zactor focuses on modernizing personal finance with technology, covering every aspect including Goals, Investment, Retirement, and Insurance Planning. With more than 7 years of experience in wealth Management, the duo have identified the major gap in the personal finance space and they want to build India’s first financial wellness platform to provide a personalized financial path for everyone. It offers a goal-based saving platform for users to maintain financial wealth. Zactor claims to have witnessed a monthly user growth of 2x from the last 6 months.

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