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Fibe raises $35 Mn in Series F round led by IFC

EntrackrEntrackr · 12d ago
Fibe raises $35 Mn in Series F round led by IFC
Medial

Consumer lending company Fibe has raised $35 million in Series F funding round led by International Finance Corporation (IFC), a member of the World Bank Group. To date, the company has raised over $266 million in equity (including secondaries) and is backed by prominent investors including TPG’s The Rise Fund, Norwest Venture Partners, Eight Roads Ventures, TR Capital, Piramal Finance, and Chiratae Ventures. The firm closed its $90 million Series E round in June 2024 and $110 million Series D in August 2022. Its lending arm EarlySalary recently received Rs 250 crore ($26.5 million) through non-convertible debentures (NCDs) from a clutch of investors including AK Capital Finance, Franklin Templeton AIF, and Vivriti Alpha. The fresh proceeds will be used to enhance our product suite further and deliver a unified experience across borrowing, saving, investing, and payments while remaining focused on responsible credit and positive socio-economic outcomes, Fibe said in a press release. Co-founded in 2015 by Akshay Mehrotra and Ashish Goyal, Fibe offers a broad suite of products including personal loans, long-term loans, loans against mutual funds, digital fixed deposits, and sector-focused impact loans spanning healthcare, education, and solar rooftop installations. Fibe claims that it has facilitated more than 9 million loans to date making it a major fintech player in healthcare and education financing. It has expanded its footprint to more than 940 cities across India, deepening access through technology-led outreach and scaling its lending portfolio with over 8,500 partner centers, and more than 50 channel partners. The company is yet to file its FY25 numbers. During the fiscal year ended March 2024, its consolidated revenue surged 2X to Rs 812 crore from Rs 392 crore in FY23. At the same time, profits for the company spiked 18X to Rs 101 crore in FY24, compared to Rs 5.4 crore in FY23.

Stable Money raises $20 Mn led by Fundamentum

EntrackrEntrackr · 6m ago
Stable Money raises $20 Mn led by Fundamentum
Medial

Bengaluru-based wealthtech platform Stable Money has raised $20 million (Rs 173 crore) in a funding round led by Fundamentum Partnership and participation from existing investors Z47, RTP Global, and Lightspeed. Aditya Birla Ventures also joined the round. The company had previously raised $20 million across Series A and Seed rounds. The proceeds will be used to expand its product suite, onboard new banking partners, and scale distribution. The company aims to add at least eight more banks and NBFCs in 2025. Founded in 2022 by Saurabh Jain and Harish Reddy, Stable Money enables users to invest in fixed-return products like fixed deposits (FDs), recurring deposits, secured credit cards, and bonds. It currently partners with eight banks and two NBFCs, including IndusInd Bank, South Indian Bank, Slice SFB, Ujjivan SFB, Unity SFB, and Suryoday SFB. The platform has over 150,000 users and more than Rs 3,000 crore in assets under management. For the fiscal year ended March 2024, it reported an operating income of Rs 35.3 lakh and a net loss of Rs 12.29 crore.

D2C retail brand Nutrabay raises $5 Mn in Series A

EntrackrEntrackr · 1y ago
D2C retail brand Nutrabay raises $5 Mn in Series A
Medial

Direct-to-consumer retail brand Nutrabay has secured $5 million in Series A funding round led by RPSG Capital Ventures along with participation from Kotak Alternate Asset Managers Limited. This is the maiden institutional funding round for the Gurugram-based company. The proceeds will be used for the omni-channel expansion and ramp up new product innovation, Nutrabay said in a press release. Co-founded in 2017 by Sharad Jain, Shreyans Jain, And Divya Prakash Jain, Nutrabayoperates as a direct-to-consumer multi brand retail store housing over 100 brands along with its own private label products under the name of Nutrabay. The private label brand products are sold across its D2C website, all major eCommerce websites and offline supplement stores. According to market research, the Indian nutritional supplements market is expected to hit a valuation of $28.70 billion by 2032, at 10.7% CAGR growth. Nutrabay aims to build one large horizontal brand that spans across 3 pillar categories of sports nutrition, VMS and health food & drinks. The company says that it currently houses over 70 products and saw 80% growth in FY24 over FY23. It intends to add over 50 new products to the portfolio by the next financial year. As per startup data intelligence platform TheKredible, Nutrabay saw 4.66X revenue growth in its operating revenue to Rs 89.53 crore in FY23 from Rs 19.24 crore in FY22. Its losses increased to Rs 5.8 lakh in FY23 from a profit of Rs 32.41 lakh in FY22. Nutrabay competes with HealthKart, Optimum Nutrition, My Protein, and MuscleBlaze, among others in the category.

FinBox raises $40 Mn in Series B round led by WestBridge

EntrackrEntrackr · 3m ago
FinBox raises $40 Mn in Series B round led by WestBridge
Medial

FinBox, a credit infrastructure fintech, has raised $40 million in a Series B round led by WestBridge Capital, with participation from existing investors A91 Partners and Aditya Birla Ventures. The funding round also included $5 million in secondary to provide partial exits to early investors. Earlier in June 2022, it had raised $15 million in a Series A round led by A91 Partners. The company also counts Flipkart among its early backers. The Bengaluru-based company will use the funds to accelerate product innovation, fuel international expansion, and deepen its AI-driven credit intelligence stack. Founded in 2017 by Rajat Deshpande, Anant Deshpande, Nikhil Bhawsinka, and Srijan Nagar, FinBox builds B2B credit infrastructure for banks, NBFCs, and fintechs. Its modular platform powers digital loan origination, underwriting, fraud detection, and embedded lending. FinBox is betting big on Sentinel BRE (its AI-native digital lending platform), Partnership Lending Stack (Prism), and fraud intelligence products, while strengthening its BankConnect, DeviceConnect, and KYC API suite. Currently, more than 130 large clients use its solutions, including HDFC Bank, Kotak Mahindra Bank, Aditya Birla Capital, Tata Capital, and Poonawalla Fincorp. As per TheKredible, FinBox grew its revenue by 47% in FY24 to Rs 53 crore, but its losses also rose to about Rs 34 crore. The firm has yet to file FY25 results. Since inception, it has processed more than $9 billion in loan applications. The company claims to be growing 100% year-on-year across product lines. It competes with players like Perfios, Signzy, and Fibe.

Home decor and lifestyle brand Nestasia raises $8.35 Mn

EntrackrEntrackr · 1y ago
Home decor and lifestyle brand Nestasia raises $8.35 Mn
Medial

Nestasia, a home decor and lifestyle brand, has raised $8.35 million in a fresh funding round from Susquehanna Asia VC, Stellaris Venture Partners, and notable angel investors. The proceeds will be used to scale the company’s efforts in offline store expansion, new category launches, brand building, and hiring. Founded in 2019 by Aditi Murarka Agrawal and Anurag Agrawal, Nestasia offers a curated selection of home decor and lifestyle products across six key categories. Nestasia plans to expand its product range within kitchenware, drinkware, cookware, and appliances and introduce new themed categories such as Nest Baby & Kids (home products for children), and more. Over the past year, Nestasia claims to have expanded its offline presence across six cities, with seven exclusive brand outlets. The firm plans to deepen its presence across these cities and expand to new ones by opening 30 stores by the end of 2025.

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