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Exclusive: Waterfield Advisors raises Rs 123 Cr at Rs 723 Cr valuation

EntrackrEntrackr · 4m ago
Exclusive: Waterfield Advisors raises Rs 123 Cr at Rs 723 Cr valuation
Medial

Exclusive: Waterfield Advisors raises Rs 123 Cr at Rs 723 Cr valuation Wealth management platform Waterfield Advisors is raising Rs 123 crore (approximately $14.6 million) in a new funding round, led by Jungle Ventures. The company’s board has approved a special resolution to issue 10,92,362 preference shares at an issue price of Rs 1,126 each, raising Rs 123 crore ($14.6 million), according to its regulatory filing accessed from the Registrar of Companies. Jungle Ventures is leading the funding round with an investment of Rs 100 crore. The remaining amount is being contributed by co-founder and CEO Soumya Rajan, along with individual investors, including Bharat Dhirajlal Shah, Vijay Singh, Bandi Vamsikrishna, Corel Traders, Parthasaradhi Reddy, Kekoo Colah, and Smita D Parekh. The company plans to utilize the proceeds for growth, expansion, marketing, and general corporate purposes, as determined by the board. According to Entrackr estimates, Waterfield Advisors will be valued at approximately Rs 723 crore ($86 million) post-allotment. The company is reportedly raising Rs 130 crore in this round. Founded in 2011 by Soumya Rajan, Waterfield Advisors is a fee-based multi-family office and wealth advisory firm, that ensures unbiased financial, investment, and succession planning services. Waterfield advisors had raised over $25 million in funding to date including $6 million from family offices, and ultra-high net worth individuals. According to the startup data intelligence platform TheKredible, Jungle Ventures will be the largest external stakeholder with 13.83%. Its co-founders Soumya Jain along with Sanjay Teli will cumulatively hold 40.07% of the company. Waterfield Advisors has recorded a 33.2% year-on-year increase in its revenue to Rs 45.7 crore in the fiscal year ended March 2024. Moreover, it managed to decrease losses by 9.5% to Rs 28.6 crore in FY24.

Breaking down SmallCase’s Series D: funding, valuation, and cap table

EntrackrEntrackr · 3m ago
Breaking down SmallCase’s Series D: funding, valuation, and cap table
Medial

Smallcase has secured $50 million in its Series D funding round, led by Elev8 Ventures, with participation from State Street Global Advisors, Niveshaay AIF, Faering Capital, Rummytime Technologies, and others. The investment comprised a mix of primary and secondary transactions, though the company did not disclose a split between the two. Entrackr has analyzed regulatory filings to uncover insights into the primary funding breakdown, shareholding, and current valuation. The board at SmallCase has passed a special resolution to issue 3,890 Series D1 and 1,644 Series D2 compulsory convertible preferred shares at an issue price of Rs 4,44,560 each to raise Rs 247 crore or $29 million as primary capital, its regulatory filing accessed from the RoC shows. In the primary funding round, State Street Global Advisors invested Rs 81.7 crore, while Elev8 Capital, Rummytime Technologies (Gaming), and Unitary Fund contributed Rs 34.5 crore, Rs 24.5 crore, and Rs 20 crore, respectively. The remaining amount came from Akram Ventures, Faering Capital, Niveshaay Sambhav, and over 20 other investors. The company has not mentioned the secondary round details in its regulatory filings. However, media reports suggest that Peak XV, WEH Ventures, and some early investors were looking to offload their shares in this round. Notably, the conversion of Series D shares will be 1:10 as per their terms. According to Entrackr’s estimates, the company will be valued at around $285-290 million post-allotment. Smallcase has raised over $120 million to date. According to startup data platform TheKredible, Peak XV holds the largest external stake at 16.2%, followed by Fearing Capital and Blume Ventures with 9.67% and 7.67%, respectively. Notably, these shareholding percentages will change a bit following the secondary transaction disclosure. Smallcase reported a 2.2X year-on-year revenue growth, reaching Rs 67.4 crore in the fiscal year ending March 2024. The company provides a platform for brokers to facilitate transactions in exchange-traded products, generating revenue primarily through transaction fees from brokers. Moreover, its losses shrank by 74% to Rs 34 crore during the same period.

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