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Traya secures Rs 75 Cr from Xponentia Capital

EntrackrEntrackr · 1y ago
Traya secures Rs 75 Cr from Xponentia Capital
Medial

Direct-to-consumer (D2C) health and wellness brand Traya has raised Rs 75 crore from Xponentia Capital. The fresh round has come for the Mumbai-based company after a hiatus of 2 years. The proceeds will be used to mark a pivotal moment toward its mission to take its clinically proven hair growth treatment to the masses. The company said in a press release. Established in 2019, Traya focuses on addressing hair loss at its core by identifying the underlying causes. It provides personalized hair solutions and guidance from a team of experienced hair coaches and physicians. The company also claims to have a user base of over 10 lakh customers. Besides its own web and mobile apps, the firm leverages third-party marketplaces such as Fl; Flipkart and Amazon for distribution. As per startup data intelligence platform TheKredible, Traya has raised a total of Rs 20.75 crore to date including its $2 million from Fireside Ventures and other backers. Last year, Xponentia announced its final closure of Xponentia Opportunities Fund – II at Rs 1,095 crore. Its notable investments include Auxilo Finserve, The Souled Store, Zype Fintech, R4Rabbit Baby Products, and Easy Home Finance among others. The significant funding came on the back of its impressive financial performance in the last fiscal year. The company’s operating scale blew 8.2X to Rs 61.67 crore in FY23 from Rs 6.98 crore in FY22. However, the firm’s losses stood at Rs 27.83 crore in the same period.

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Traya posts 236 Cr revenue in FY24; turns profitable

EntrackrEntrackr · 6m ago
Traya posts 236 Cr revenue in FY24; turns profitable
Medial

Traya recorded over threefold year-on-year growth, with its revenue crossing Rs 230 crore during the previous fiscal year ending March 2024. Moreover, with this pace, the Mumbai-based company became profitable in the same period. Traya’s revenue from operations surged 3.8X to Rs 236 crore in FY24 from Rs 61 crore in FY23, its annual financial statements sourced from the Registrar of Companies show. Established in 2019, Traya focuses on addressing hair loss at its core by identifying the underlying causes. It provides personalized hair solutions and guidance from a team of experienced hair coaches and physicians. Income from product sales accounted for 99.36% of Traya's total operating revenue, which rose to Rs 234.5 crore in FY24, up from Rs 61 crore in FY23. The rest income came from courier services and doctor consultation fees. Moving on to the expense part, marketing and sales accounted for 43% of the overall expenditure. This cost grew twofold to Rs 98 crore in FY24 from Rs 51 crore in FY23. To the tune of scale, the cost of procurement of materials surged 3.6X to Rs 54 crore in FY24. Traya’s employee benefits also saw a 4X surge to Rs 36 crore in FY23. Other overheads including freight, legal, and travelling increased the overall cost by 154% to Rs 229 crore in FY23 from Rs 90 crore in FY23. The 3.8X growth in scale enabled Traya to achieve a notable profit of Rs 9 crore in FY24, a stark contrast to the Rs 28 crore loss in FY23. Its ROCE and EBITDA margin improved to 8.7% and 5.04%, respectively. On a unit basis, the company spent Rs 0.97 to earn a rupee in FY24. Traya's total current assets recorded at Rs 159 crore, with a cash balance of Rs 85 crore at the end of the previous fiscal year. According to startup-data intelligence platform TheKredible, Traya has raised approximately Rs 96 crore to date, including Rs 75 crore in funding from Xponentia Capital in April this year. The company counts notable investors such as Fireside Ventures, Kae Capital, Xponentia Capital, and Whiteboard Capital.

Exclusive: Fintech startup Zype secures debt

EntrackrEntrackr · 1m ago
Exclusive: Fintech startup Zype secures debt
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.

Exclusive: Oxyzo secures Rs 100 Cr debt

EntrackrEntrackr · 4m ago
Exclusive: Oxyzo secures Rs 100 Cr debt
Medial

Exclusive: Oxyzo secures Rs 100 Cr debt Fintech unicorn Oxyzo has secured Rs 100 crore (approximately $12 million) in debt from AK Capital Finance, a subsidiary of merchant banker A.K. Capital Services Ltd. The boards at Oxyzo allotted 1,00,000 non-convertible debentures to AK Capital at an issue price of Rs 10,000 each to raise Rs 100 crore, its regulatory filing sourced from the Registrar of Companies shows. The aforementioned debentures are issued for a tenure of 24 months and carry an interest rate of 9.75% per annum, the filing added. The proceeds will be used to augment the long-term resources of the company and meet working capital requirements. Oxyzo is the lending arm of B2B e-commerce unicorn OfBusiness, providing customized credit solutions for SMEs. It offers a range of loan products, including term loans, working capital solutions, low-interest rates, and collateral-free credit options. According to data intelligence platform TheKredible, the Gurugram-based company reported operating revenue of over Rs 900 crore and a profit of Rs 290 crore for the financial year ending 2024. Oxyzo’s net profit grew 11.38% to Rs 82.89 crore and sales jumped 27.43% to Rs 282.80 crore in the quarter ended December 2024 (Q3 FY25), compared to Rs 221.93 crore in December 2023. The Ruchi Kalra-led firm achieved unicorn status by raising $200 million in its first external funding round, and it became the first startup to surpass a $1 billion valuation during its Series A round. As per TheKredible, OFB group including promoters holds 74.5% while Alpha Wave is the largest external stakeholder with 7.4% followed by Tiger Global.

Fintech startup Care.fi secures Rs 8 Cr in debt

EntrackrEntrackr · 9m ago
Fintech startup Care.fi secures Rs 8 Cr in debt
Medial

Healthcare-focused fintech startup Care.fi has raised Rs 8 crore in debt capital, securing Rs 5 crore from Wint Wealth and Rs 3 crore in impact debt capital from Caspian The Gurugram-based company had previously raised $2 million (Rs 16 crore) in debt capital from Trifecta Capital, along with an additional $0.6 million (Rs 5 crore) from UC Inclusive Credit three months ago. The fresh funds will be used to ramp up its presence in the market and invest in the betterment of healthcare fintech especially for optimizing the operational end of hospital management, Care.fi said in a press release. Co-founded in 2021 by Sidak Singh and Vikrant Agarwal, Care.fi is a fintech company offering smart financing solutions to hospitals, doctors, and allied suppliers. It bridges the gaps in funding within the healthcare industry. The company addresses the financial needs of healthcare professionals and institutions, facilitating smoother operations and accelerated growth. According to Care.fi, it is currently working with more than 50 hospitals and has helped over 2,000 patients. It claims that its total disbursals increased by 4x, with cumulative disbursals of $48 million (Rs 400 crore) last year. Care.fi has also received an NBFC license within two years of operation. Other major players in this space are CarePay, SaveIn, and Bajaj Finserv Health.

Zomato secures Rs 8,500 Cr via QIP

EntrackrEntrackr · 7m ago
Zomato secures Rs 8,500 Cr via QIP
Medial

Zomato Limited announced on Friday that it has raised Rs 8,500 crore through a Qualified Institutions Placement (QIP) of equity shares. Last week, the foodtech firm received shareholders’ approval for the fundraise. The issuance involved 33,64,73,755 equity shares at Rs 252.62 each, including a premium of Rs 251.62 per share. This issuance price represents a 5% discount on the determined floor price of Rs 265.91 per share, the company informed in its stock exchange filings. This capital infusion is expected to bolster Zomato's financial position, facilitating business expansion and strategic initiatives, especially in the quick commerce space via Blinkit. The offering, which opened on November 25 and closed on November 28, received approval from Zomato’s Fund Raising Committee during its meeting held earlier today. Prominent mutual funds, such as ICICI Prudential and Motilal Oswal, were among the significant allottees, with the latter acquiring a total of 6.92 crore shares, accounting for 20.81% of the issue size. After the transaction, Zomato’s paid-up equity share capital has risen to Rs 917.28 crore. For the fiscal year ending in, Zomato achieved a remarkable 68.5% quarter-on-quarter growth in operating revenue, reaching Rs 4,799 crore in Q2 FY25 from Rs 2,848 crore in Q2 FY24. The company also recorded a 4.8x increase in net profit to Rs 176 crore in the September quarter. A recent report by Motilal Oswal highlights that Blinkit, owned by Zomato, dominates the quick commerce market with a 46% share. Zepto holds the second position with a 29% share, while Swiggy Instamart follows in third place with a 25% market share. Compared to the closing price of last Friday (November 22), Zomato saw a 6.8% rise to Rs 282 per share at 11:30 AM on November 29, 2024. The company’s market cap currently stands at around Rs 2,35,481 crore or $28 billion, while its closest rival, Swiggy, is trading at Rs 470 per share with a market cap of Rs 90,712 crore or $10.7 billion.

Saarathi Finance secures Rs 475 Cr equity capital

EntrackrEntrackr · 1m ago
Saarathi Finance secures Rs 475 Cr equity capital
Medial

Saarathi Finance secures Rs 475 Cr equity capital Non-Banking Financial Company (NBFC) Saarathi Finance has closed its inaugural funding round of Rs 475 crore, co-led by TVS Capital Funds, Lok Capital, Evolvence Equity Partners, Paragon Partners, and other angels collectively contributing about Rs 350 crore. Vivek Bansal and Sunil Daga also infused the remaining amount. The Series A investment values Saarathi Finance at over Rs 900 crore. The capital infusion will support its aim to bridge the significant credit gap faced by MSMEs, particularly in underserved semi-urban and rural regions across Tamil Nadu, Telangana, Andhra Pradesh, Karnataka, Rajasthan, and Uttar Pradesh. Saarathi Finance's approach combines technology-driven solutions with personalized customer engagement, offering both secured and unsecured loans tailored to the unique needs of MSMEs. The company's emphasis on flexible income assessment and rapid loan processing aims to make credit more accessible to entrepreneurs traditionally overlooked by formal financial institutions. “We are committed to empowering Bharat’s entrepreneurs by providing more than just credit – a partnership that values and supports their growth. This funding milestone enables us to accelerate our mission, ensuring every stakeholder, from entrepreneurs to investors, is valued and cared for in our journey. With heartfelt gratitude to our stakeholders, friends, and family, we embark on this exciting journey,” said Vivek Bansal, founder & CEO of Saarathi Finance.

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