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Swara Fincare raises Rs 19.4 Cr in Series A funding
Entrackr
·
10m ago
Medial
Tech-enabled non-banking financial company (NBFC) Swara Fincare has successfully raised Rs 19.4 crore ($2.3 million) in a Series A funding round led by UC Impower, with participation from Serica Angel Fund. The new funding will be used to promote financial inclusion for micro and small entrepreneurs, expand its distribution network, develop innovative products, and enhance its technology platforms, according to a press release from Swara Fincare. Founded in 2022 by Dev Verma, Mukund Madhav, and Sumit Ranjan, Swara Fincare aims to provide financial services to individuals and entrepreneurs in rural and semi-urban areas of India. Its offerings include customized financing solutions, life, health, and general insurance products, as well as loan account EMI payments and real-time tracking. Swara Fincare focuses on supporting the underbanked population and emerging entrepreneurs in India. The company collaborates with government agencies, NGOs, and other organizations to deliver financial literacy programs, training, and mentorship to its clients. Based in Gurugram, Swara Fincare operates 45 branches across Uttar Pradesh, Haryana, Rajasthan, Bihar, and Uttarakhand, impacting over 35,000 households. The firm has also secured debt support from more than 30 prominent financial institutions and banks, along with three co-lending partnerships to facilitate its growth. Other notable players in the NBFC sector include Funding Societies, Lendingkart, and AYEFin, among others.
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Figr, ZenStatement, Swara Fincare, three others bag funding
VCCircle
·
10m ago
Medial
- Figr, ZenStatement, Swara Fincare, Humm Care, and Deftouch have successfully raised funding in their respective sectors. - Figr, an AI-powered design platform, secured $2.25 million in Series A funding led by Kalaari Capital. - Sorich, a pharmaceutical packaging company, received a $1 million investment from BizDateUp to optimize production capacity and enhance working capital. - ZenStatement, an AI-powered finance automation and cashflow management platform, raised $1.62 million in seed funding led by 3One4 Capital and Boldcap VC. - NBFC Swara Fincare secured Rs 19.4 crore as part of Series A Funding, aiming to double its assets by the end of the financial year. - Humm Care, a health-tech platform offering employee healthcare benefits, raised an undisclosed amount in a seed round to scale its services and expand its reach. - Deftouch, an Indian game publisher, raised an undisclosed amount in a follow-on round to develop new games and talent for its gaming studio.
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MSME Lender Swara Fincare Raises Funds From UC Impower To Double AUM
Inc42
·
10m ago
Medial
- Swara Fincare raises funding from Nexus Venture Partners and Piper Serica Angel Fund. - The company has a presence in Uttar Pradesh, Haryana, Rajasthan, Bihar, and Uttarakhand through 45 branches. - Swara Fincare is an MSME lender with debt support from over 30 financial institutions and banks. - The funding round also includes an internal infusion from Swara Fincare's founders. - The company has three colending partnerships.
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OneCard raises Rs 95 Cr debt from Alteria
Entrackr
·
1y ago
Medial
Mobile-first credit card startup OneCard has secured Rs 95 crore ($11.44 million) in debt funding from Alteria Capital. The company, which offers co-branded credit cards and a credit score tracking app, will issue 9,500 Series B debentures to raise the funds. The debt funding will be used for business operations. OneCard became a unicorn in 2022 after a Series D funding round and has seen significant growth in revenue, but also a rise in losses. It competes with Slice and Uni in the co-branded credit card space.
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Fleetx raises Rs 113 Cr in Series C led by IndiaMART and Beenext
Entrackr
·
2m ago
Medial
Fleetx raises Rs 113 Cr in Series C led by IndiaMART and Beenext. Gurugram-based logistics SaaS startup Fleetx has raised Rs 113 crore ($13.2 million) in its Series C round led by existing investors IndiaMART Intermesh and BEENEXT’s Accelerate Fund. The round includes both primary and secondary transactions. Fleetx had raised $19.4 million in its Series B round led by IndiaMart with participation from IndiaQuotient and BEENEXT in February 2022. The fresh proceeds will be used to expand product capabilities and scale its go-to-market engine across mid-market and enterprise segments in India, Fleetx said in a press release. Founded in 2017 by Vineet Sharma, Abhay Jeet Gupta, Udbhav Rai, Parveen Kataria, and Vishal Misra, Fleetx operates at the intersection of AI and IoT, offering fleet management, fuel analytics, video telematics, transport ERP, and TMS solutions. The company plans to strengthen its product stack and profitability metrics to meet IPO-readiness targets within the next two years. It also aims to double its annual recurring revenue (ARR) while achieving profitability in the near term. “As we sit on the huge logistics data points, we’re in a unique position to leverage AI to tackle some of the most complex challenges in the sector. We will continue to invest aggressively in our product capabilities while building a durable, efficient business delivering measurable value to our customers,” said Vineet Sharma, CEO of Fleetx. Fleetx claims to have grown 4x since its last funding round in 2022. It claims to have crossed Rs 100 crore in ARR and currently serves over 2,000 clients, including more than 100 large enterprise accounts. Its customers span industries such as cement, FMCG, mining, transportation, and manufacturing. Notable clients include Ultratech Cement, Adani Group, Unilever, Godrej, Shree Cement, Maersk, and Panasonic. For the fiscal year ending March 2024, Fleetx recorded operating revenue of Rs 56.58 crore from Rs 41.63 crore in FY23. The company also reduced its losses by over 55% to Rs 24.21 crore in FY24.
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EV financing startup Ascend Capital raises Rs 50 Cr
Inshorts
·
1y ago
Medial
Commercial electric vehicle financier Ascend Capital has raised Rs 50 crore in a Series A funding round led by InfoEdge Ventures and Asha Ventures. The company said it will use the capital to expand its loan book. It added it hopes to cross Rs 300 crore in assets under management over the next two years.
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Captain Fresh raises over Rs. 109 Cr in fresh tranche
Entrackr
·
1y ago
Medial
B2B animal protein marketplace, Captain Fresh, has raised $13.25 million (Rs. 109 Cr) in an extended Series C funding round. The Bengaluru-based company issued 1,102 Series C6 compulsory convertible preference shares at an issue price of Rs 9,98,399 each. Nekkanti Sea Foods and Shakti Finvest were the leading investors, contributing Rs 50 crore and Rs 30 crore respectively. Captain Fresh procures animal protein directly from farmers and agents and operates in India, the US, Dubai, and Madrid. The company's gross revenue for the fiscal year ending March 2023 was Rs 817 crore, with losses amounting to Rs 294 crore.
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Udaan raises $75 Mn at flat valuation
Entrackr
·
5m ago
Medial
Udaan raises $75 Mn at flat valuation B2B e-commerce platform Udaan has raised $75 million in a Series G equity funding round at a flat valuation, as announced by the company’s co-founder and CEO, Vaibhav Gupta, during a town hall today. Sources assert that the company has been valued in the range of $1.5 to $1.8 billion in this round. According to sources, Udaan plans to use the funds to uplift customer experience, expand market reach, strengthen strategic vendor partnerships, and beef up supply chain and credit infrastructure. Last month, Udaan received approval from the National Company Law Tribunal (NCLT) to merge its various business entities into a unified entity, Hiveloop Ecommerce Pvt Ltd. This consolidation marks a significant milestone in its journey toward becoming a publicly listed company. In October 2024, Udaan secured Rs 300 crore (over $35 million) in debt funding from Lighthouse Canton, Stride Ventures, InnoVen Capital, and Trifecta Capital. The company has raised around $1.9 billion in debt and equity funding to date. Udaan’s gross revenue (GMV) grew only 1.7% to Rs 5,706.6 crore in the fiscal year ending March 2024 in contrast to Rs 5,609.3 crore booked in FY23. However, it managed to control its losses by 19.4% to Rs 1,674.1 crore in the same period.
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LoanTap raises Rs 74 Cr to expand MSME supply chain financing
YourStory
·
1m ago
Medial
LoanTap, a digital lending platform, has raised Rs 74 crore in a pre-Series C round to enhance its supply chain financing for small retailers. The funding includes Rs 54 crore in equity led by July Ventures and Rs 20 crore in venture debt. LoanTap's supply chain financing division, LT Credit, has financed over 4.5 lakh invoices worth Rs 1,000 crore for more than 50,000 retailers in two years, aiming to fund one million invoices next year.
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Fashion jewellery brand Kushal’s raises Rs 284 Cr from Lighthouse
Inshorts
·
1y ago
Medial
Kushal's, a fashion and silver jewellery brand, has raised Rs 284 crore in a Series B funding round from the mid-market private equity firm Lighthouse. The capital infusion also includes a secondary transaction, giving a partial exit to Kushal's first institutional investor, India SME Investments, which invested in the brand in 2019.
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Rapido raises Rs 250 Cr from Prosus as part of Series E round
Entrackr
·
5m ago
Medial
Rapido raises Rs 250 Cr from Prosus as part of Series E round Mobility firm Rapido is raising Rs 250 crore (around $29.7 million) from Prosus as part of Series E round. This funding comes just seven months after its $120 million round, which was led by WestBridge. The board at Rapido has passed a special resolution to issue 47,743 Series E preference shares at an issue price of Rs 52,467 each to raise Rs 250 crore or $29.7 million, the company's regulatory filing accessed from the Registrar of Companies shows. Rapido was set to raise approximately $60 million in a mix of primary and secondary funding from Prosus, as exclusively reported by Entrackr in October 2024. The ride-hailing app is raising $200 million in its Series E round at a $1.1 billion valuation. The company has already received two tranches—$120 million and $29.7 million. Following this latest tranche, Prosus will hold around 2.9% of Rapido. Based on Entrackr’s estimates, Rapido is currently valued at approximately Rs 8,726 crore (just over $1 billion). Rapido recorded 46.3% year-on-year growth, with revenue standing at Rs 648 crore in the fiscal year ending March 2024. The company also reduced its losses by 45%, bringing them down to Rs 371 crore during the same period. In Q2 FY25, Rapido reported a 2.5X year-on-year increase in gross order value (GOV), reaching Rs 2,461 crore, up from Rs 977 crore in Q2 FY24. The company also saw a two-fold increase in rides, totaling 207 million.
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