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Wealthy raises Rs 130 Cr led by Bertelsmann India Investments

EntrackrEntrackr · 3m ago
Wealthy raises Rs 130 Cr led by Bertelsmann India Investments
Medial

Wealth-management platform Wealthy has raised Rs 130 crore ($14.5 million) in a new funding round led by Bertelsmann India Investments. Its existing investors Shepherd’s Hill Group and Alpha Wave Global also participated. The proceeds will be used to expand Wealthy’s advisor network, improve its product stack, and increase penetration in new markets. It is also expected to strengthen its technology infrastructure and compliance systems as product categories scale. Founded in 2015, Wealthy operates a digital marketplace for financial products and a distribution platform for advisors. The company enables independent financial advisors to sell mutual funds, insurance, fixed deposits, bonds, and other wealth products through its technology stack. According to the company, its AUM has increased from Rs 200 crore to Rs 5,000 crore over the past three years, reflecting strong business expansion. Wealthy now operates 20 offices across India, with a significant presence in major cities such as Bengaluru, Mumbai, Hyderabad, Ahmedabad, Surat, Jaipur, Gurugram, Delhi, Faridabad, Ghaziabad, Lucknow, Kanpur, and Kolkata. The platform claims to process over Rs 300 crore in monthly transactions and works with more than 6,000 mutual fund distributors serving over 100,000 clients. As per TheKredible, Wealthy’s revenue from operations grew to Rs 25 crore in FY25 from Rs 14.5 crore in FY24. The AWI-backed company recorded a net loss of Rs 35 crore in the last fiscal year, compared to Rs 24 crore in FY24.

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Rural commerce startup Rozana raises Rs 290 Cr in Series B led by Bertelsmann

EntrackrEntrackr · 7d ago
Rural commerce startup Rozana raises Rs 290 Cr in Series B led by Bertelsmann
Medial

Rural commerce startup Rozana raises Rs 290 Cr in Series B led by Bertelsmann Rural omnichannel retail platform Rozana has raised Rs 290 crore ($31.6 million) in a Series B funding round led by Bertelsmann India Investments. The round also saw participation from Fireside Ventures, US-based Spark Growth Ventures, Bikaji Family Office, FE Securities, and other family offices. The fresh capital will be used to strengthen the company’s technology infrastructure, broaden product categories, develop private label offerings, and deepen brand partnerships. Founded in 2021 by Ankur Dahiya, Adwait Vikram Singh, and Mukesh Christopher, Rozana operates a rural-focused omnichannel retail platform that combines a consumer-facing app with modern retail experience centres and its own distribution network. It runs over 75 retail experience centres and works with more than 35,000 women partners who act as last-mile fulfilment agents embedded within local communities. According to the company, it has expanded its hybrid commerce infrastructure to 21,000 villages across the Gangetic plains, a region home to over 50% of India’s rural population. It currently serves more than 1 million active households across Uttar Pradesh and Haryana. In its next phase of growth, Rozana plans to expand to over 200 stores and enter two to three additional northern states across the Gangetic belt. The company also aims to eventually reach 130,000 villages. India’s rural consumption market is estimated to exceed $2 trillion, with more than 200 million rural households spending upwards of Rs 20,000 per month across staples, FMCG, personal care, household goods, apparel, and discretionary categories. Rozana has raised nearly $60 million in funding to date. In March 2024, the company raised $22.5 million in a Series A round led by Bertelsmann India Investments with participation from Fireside Ventures and other investors. Prior to that, the startup raised $2.5 million in a pre-Series A round from 3one4 Capital and IEG Investment Banking Group in April 2022.

Exclusive: Wealthy raises fresh capital from Alpha Wave

EntrackrEntrackr · 1y ago
Exclusive: Wealthy raises fresh capital from Alpha Wave
Medial

Wealth management platform Wealthy has raised Rs 45 crore ($5.4 million) in a new round led by Falcon Edge’s Alpha Wave Incubation Fund. This is the first round of investment for the Bengaluru-based company this year. The board at Wealthy has passed a special resolution to issue 47,222 compulsory convertible preference shares at an issue price of Rs 9,556 each to raise Rs 45 crore or $5.4 million, its regulatory filing accessed from the Registrar of Companies (RoC) shows. Alpha Wave led the round with Rs 20.7 crore while Savrola Lakshmi LLC put in Rs 16.38 crore. Good Capital and other individual investors cumulatively participated with Rs 7.92 crore. According to the filings, Wealthy will use these proceeds for expansion and general working capital purposes. As per startup data intelligence platform TheKredible’s estimates, the company has been valued at around Rs 278 crore or $33.5 million post-money. Wealthy has raised over $16 million to date including $7.5 million Series A funding led by Alpha Wave in early 2022. It looks like an ongoing round and the company may raise more capital. Founded in 2015, Wealthy offers investment management and tracking tools to retail investors. It also provides advisory and access to wealth management professionals. According to its website, the firm has facilitated over Rs 4,500 crore of investments through its marketplace. Following the fresh proceeds, existing backer Alpha Wave remains the largest external stakeholder with 24.16% followed by Good Capital which holds 9.69%. Its co-founders Aditya Agarwal and Prashant Gupta jointly command 36.64% of the company. Head to TheKredible for the complete shareholding pattern. Wealthy bled profusely in FY23 as its losses blew 8X to Rs 24 crore while its revenue grew 57.2% to Rs 11.82 crore during the same period. The company is yet to disclose its financial numbers for FY24. It competes with a clutch of wealthtech platforms including Stable Money, Deserv, Cube Wealth and many others.

Gold-plated silver jewellery brand Goyaz raises Rs 130 Cr led by Norwest

EntrackrEntrackr · 4m ago
Gold-plated silver jewellery brand Goyaz raises Rs 130 Cr led by Norwest
Medial

Gold-plated silver jewellery brand Goyaz raises Rs 130 Cr led by Norwest Gold-plated silver jewellery brand Goyaz has raised Rs 130 crore ($14.6 million) in a Series A funding round led by Norwest, marking Goyaz’s first institutional investment. The fresh capital will be used to expand its retail footprint across key Indian cities, strengthen its design and manufacturing capabilities, and further enhance its omnichannel experience. Launched in January 2023 by Priyanka Vemuluri, Goyaz specializes in gold-plated silver jewelry, particularly bridal and contemporary designs. It has rapidly expanded its retail presence to 18 stores across multiple states in India, focusing on combining traditional craftsmanship with modern designs. Priyanka Vemuluri, founder and CEO of Goyaz, stated, “Their partnership empowers us to broaden the reach of our meticulously crafted occasion jewellery. With Norwest’s strategic guidance, we aim to accelerate growth, diversify our collections, and strengthen our retail presence across key markets. Our mission remains to make premium craftsmanship accessible to every Indian household.” Norwest India is part of Norwest Venture Partners, a global investment firm managing more than $12.5 billion in capital.

Bertelsmann acquires majority stake in LetsTransport

EntrackrEntrackr · 1m ago
Bertelsmann acquires majority stake in LetsTransport
Medial

Bertelsmann acquires majority stake in LetsTransport Bertelsmann Investments has acquired an 80% majority stake in trucking aggregator LetsTransport for an undisclosed amount. It has also launched Bertelsmann Next India (BNI), a new platform to build and scale majority-owned, founder-led businesses in the country. As part of the transaction, LetsTransport will be renamed LetsTransport Group (LTG). The founders will continue to lead day-to-day operations as the company expands its offerings beyond a trucking marketplace into a broader, technology-led logistics platform serving enterprise and mid-market customers. BNI will be headed by Pankaj Makkar, managing director of Bertelsmann India Investments, who will also serve as chairman of LTG’s board. The platform will provide long-term capital, governance support, and access to Bertelsmann’s global network. Over the coming years, BNI plans to add complementary businesses and products within the LTG ecosystem through organic expansion and acquisitions. LetsTransport Group will also explore collaboration opportunities with other Bertelsmann portfolio companies, including Shiprocket. LTG has entered into an operating agreement to support Shiprocket’s intra-city and mid-mile trucking requirements, while Shiprocket will help LTG expand its part-truckload and warehousing offerings. Bertelsmann India Investments will continue to operate independently as a sector-agnostic, early-growth-stage venture capital fund and will deploy capital from its recently raised $500 million fund. Founded in 2015, LetsTransport connects truck drivers and small fleet operators with businesses across India and serves over 100 corporate clients through its digital logistics platform. Before the acquisition, the company had raised a total of $77 million in funding, including $22 million in a Series E round in April 2024 led by Bertelsmann India Investments, and $25 million raised in July 2023.

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