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Ummeed Housing Finance closes $70 million round led by A91 Partners at $300 million valuation
Money Control
·
1y ago
Medial
Gurugram-based affordable housing finance company Ummeed Housing Finance has raised $70m in a funding round led by A91 Partners. Of the total amount raised, A91 contributed $45m, with the rest coming from existing investors such as Norwest Venture Partners. The latest funding puts the company's valuation at $300m. Ummeed Housing Finance offers housing loans and secured business loans to low-income households in Tier 2 and Tier 3 towns in India.
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Ummeed Housing Finance secures $76mn to fuel south, central India expansion
Livemint
·
1y ago
Medial
Ummeed Housing Finance, a housing loan provider in India, has raised $76 million in Series F funding from investors including A91 Partners, Mirae Asset Venture Investments, and Anicut Capital. The funding will support the company's expansion into central and southern India, as well as investments in technology and processing capabilities. Ummeed aims to provide housing loans and small-ticket business loans to self-employed individuals in the low and middle-income segments. The company has disbursed over ₹2,800 crore in loans through its network of branches across tier 2 and tier 3 cities.
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A91 Partners closes $665 Mn Fund III
Entrackr
·
3m ago
Medial
A91 Partners has announced the final close of its third fund at $665 million. With Fund III, A91 plans to continue backing growth-stage businesses and supporting founders with scale and strategic capital. “We started A91 in 2018 with the following beliefs - patient capital will play an important role in accelerating value creation in Indian businesses across sectors. We also believed in the opportunity to create a world-class Indian investment firm - for founders who are aiming to build large enduring businesses from India. All these beliefs have been strengthened over the last 6 years,” said A91 Partners in a Linkedin post. Founded in 2018 by former Peak XV partners Gautam Mago, Abhay Pandey, Kaushik Anand, and VT Bharadwaj, A91 Partners was created to support Indian entrepreneurs building long-term businesses. The firm focuses on investing across sectors such as consumer, healthcare, financial services, and technology. The firm said it remains committed to being a long-term partner to both founders and Limited Partners as it continues to grow its presence in the Indian private equity landscape. A91 Partners has also made investments in sectors like coffee, spices, and home appliances, including backing brands such as Atomberg. It led a $30 million Series B funding round in Blue Tokai Coffee Roasters. The firm’s portfolio includes companies like Digit Insurance, Inshorts, Sugar Cosmetics, Exotel, Healthkart, Paper Boat, and Plum, among others. Go Digit General Insurance, one of A91’s portfolio companies, went public last year. In a recent disclosure, the International Finance Corporation (IFC) said that it is considering an investment of up to $35 million in A91 Partners’ third fund, with the possibility of committing an additional $30 million for co-investment opportunities.
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Astrotalk closes $14 million funding led by Elev8 Venture Partners
Economic Times
·
1y ago
Medial
Astrotalk, a digital astrology consulting startup, has raised $14 million in a funding round led by Elev8 Venture Partners. The round included a mix of primary and secondary transactions, with $7 million invested by Elev8. Astrotalk plans to use the funds to expand its services, launch new apps, enter new markets such as the US and UK, and increase its team. The company's valuation after the funding round is estimated to be around $300 million. Astrotalk currently operates on a revenue-sharing model with over 10,000 active astrologers on its platform.
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PE firm Multiples closes $430 Mn continuation fund
Entrackr
·
2m ago
Medial
Private equity firm Multiples Alternate Asset Management has raised $430 million for a continuation fund to extend its investment in three portfolio companies — Vastu Housing Finance, Quantiphi, and APAC Financial Services. The transaction allows investors in Multiples Fund II to monetize their investments while enabling the firm to continue holding on to high-performing assets, according to a press release. The continuation fund, which was oversubscribed, is backed by four global investors — HarbourVest Partners, Hamilton Lane, LGT Capital Partners, and TPG NewQuest. Some existing Fund II investors have also rolled over their commitments into the new vehicle. Vastu Housing Finance is focused on affordable housing credit, Quantiphi provides AI and digital engineering solutions, and APAC Financial Services is an emerging financial platform with a growing nationwide presence. The fund also includes additional capital for follow-on investments in these companies. Renuka Ramnath-led Multiples has backed more than 35 companies and seen exits across IPOs, strategic sales, and secondary transactions.
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BII leads Series F round of MSME lender Aye Finance
VCCircle
·
1y ago
Medial
Micro-enterprise lender Aye Finance has raised Rs 310 crore ($37.2 million) in a Series F funding round led by British International Investment (BII), a UK-based development finance institution. The funding round also saw participation from The Waterfield Fund of Funds and existing shareholder A91 Partners. Aye Finance provides loans to micro, small, and medium-sized enterprises, primarily offering mortgage, hypothecation, and term loans. The new funding will support the company's growth as it aims to expand its lending services to underserved microenterprises.
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AI Startup Perplexity Closes Funding Round at $9 Billion Value
Internet
·
7m ago
Medial
Perplexity AI, one of the leading players in the artificial intelligence (AI) space, has had its valuation skyrocket to an impressive $9 billion after its latest funding round. The company raised $500 million in fresh investment earlier this month. Led by Institutional Venture Partners, the funding round highlights growing investor interest in AI-driven innovation for online search.
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GIVA raises ₹270 cr led by Wipro Founder Chairman's Premji Invest
Inshorts
·
2y ago
Medial
Jewellery brand GIVA has raised ₹270 crore in a funding round led by Wipro Founder Chairman Azim Premji's Premji Invest. The startup raised ₹200 crore in primary capital in the Series B funding round, which saw participation from existing investors Aditya Birla Ventures, Alteria Capital and A91 Partners. GIVA raised another ₹70 crore through a secondary sales transaction and gave partial exit to Kunal Shah and FirstCheque.
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Embassy to buy WeWork's stake in India joint venture
The Arc Web
·
1y ago
Medial
Embassy Group, a Bengaluru-based developer, is buying back a 27% stake in WeWork India from WeWork Global for approximately $85-90 million. In order to finance this transaction, WeWork India is raising about $150 million from investors including Bhansali's family office, A91 Partners, and Caratlane's founder Mithun Sacheti. The deal structure involves WeWork India raising funds for a 40% stake, which will then be used to repurchase shares from WeWork Global. The new investors will hold 25-30% of the company, while the Embassy Group will maintain a 70-75% share. WeWork India's valuation for this transaction is estimated at Rs 4,000-4,500 crore.
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Exclusive: DaMENSCH raises fresh capital from existing investors at flat valuation
Entrackr
·
1y ago
Medial
D2C men’s lifestyle brand DaMENSCH has raised Rs 21.62 crore (approximately $2.5 million) in its extended Series B round from existing investors. The fresh investment, which came after a gap of two years, appears to be a bridge round for the Bengaluru-based company. The board at DaMENSCH has passed a special resolution to issue 1,017 shares at an issue price of Rs 2,12,515 each to raise Rs 21.6 crore, its regulatory filing accessed from the Registrar of Companies shows. Existing investors including Matrix Partners, Saama Capital, Whiteboard Capital, and A91 Emerging Fund also participated during the round. The bridge round has flown in at a flat valuation. As per TheKredible estimates, it has been valued at around $70-75 million (post-money). DaMENSCH has raised over $25 million to date including its $16.6 million Series B round led by A91 Partners in February 2022. According to the startup data intelligence platform TheKredible, A91 Partners is the largest external stakeholder followed by Matrix and Saama Capital. Started in 2018 by Anurag Saboo and Gaurav Pushkar, DaMENSCH offers a range of innerwear and casual wear. It leverages its own website and marketplaces such as Amazon, Flipkart, and Myntra for distribution. While the company is yet to file its financial statements for FY24, DaMENSCH’s revenue grew 22.7% year-on-year to Rs 77.57 crore in FY23. Unlike its scale, the firm’s losses surged twofold to Rs 62.34 crore in the fiscal year ending March 2023. DaMENSCH directly competes with Bummer which secured Rs 9.25 crore from Gruhas Collective Consumer Fund in March. XYXX seems to be the most funded player in the space as it raised over $36 million to date including $13.5 million from Amazon Sambhav Fund in May last year.
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PE firm TA Associates lines up a unicorn housing finance bet
Livemint
·
1y ago
Medial
Private equity firm TA Associates is expected to acquire a significant stake in Vastu Housing Finance, a company backed by Multiples PE. The deal is estimated to be around $400 million, with Vastu Housing Finance being valued at over $1.4 billion. Existing investors, including Norwest Venture Partners and Creation Investments India, are also increasing their stake in the company. This investment round will consist of both secondary and primary fundraising. Vastu Housing Finance has seen strong financial performance, reporting net sales of ₹768.5 crore and a net profit of ₹285 crore in 2022-23.
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