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Weaver Services raises Rs 1,450 Cr led by Premji Invest and Lightspeed

EntrackrEntrackr · 1d ago
Weaver Services raises Rs 1,450 Cr led by Premji Invest and Lightspeed
Medial

Weaver Services raises Rs 1,450 Cr led by Premji Invest and Lightspeed Housing finance platform Weaver Services has completed a two-tranche fundraise of Rs 1,450 crore ($156 million). The capital will be used to acquire a 75.01% controlling stake in Centrum Housing Finance (CHFL), following all required regulatory and shareholder approvals. Premji Invest, an early backer, co-led the latest Rs 950 crore (over $100 million) round along with Lightspeed Venture Partners, which is making its first investment in this segment. Gaja Capital and a group of senior financial services professionals also participated in the round. Weaver has also entered into definitive agreements with Morgan Stanley to acquire its remaining 24.99% stake in CHFL, subject to approvals. Once completed, Weaver will become the sole institutional owner of CHFL. CHFL will be combined with People Home Finance, acquired in August 2025, creating a platform with assets under management exceeding Rs 2,000 crore and a network of 140 branches across India. The two entities are expected to be merged into a single unified institution. The combined entity will offer home loans, self construction loans, home improvement loans, and loans against property, with a focus on expanding access to credit for women. Founded in April 2024 by Satrajit Siva Bhattacharya and Anil Kothuri, Mumbai-based Weaver Services is a fintech enabled housing finance company focused on providing affordable home loans to underserved segments, especially self-employed individuals in tier II and tier III cities.

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Lightspeed and Premji Invest lead $170 Mn round in Weaver Services

EntrackrEntrackr · 7m ago
Lightspeed and Premji Invest lead $170 Mn round in Weaver Services
Medial

Weaver Services, a technology-led housing finance platform, has raised $170 million in a funding round led by Lightspeed and Premji Invest, with participation from Gaja Capital. The proceeds will be used to acquire assets, strengthen technology, and expand into tier-II and tier-III cities. Led by founder and vice chairman Satrajit Bhattacharya, Weaver is building a next-generation housing finance platform using AI-driven underwriting models and alternative data to serve India’s underserved affordable housing segment, especially self-employed individuals. The company had earlier acquired Capital India Housing Finance as its anchor asset and is evaluating more acquisitions to scale faster. Weaver operates in a competitive space alongside established housing finance companies such as HDFC Ltd, LIC Housing Finance, Aavas Financiers, Home First Finance, and PNB Housing Finance. Housing finance companies have attracted significant funding in the past 12 months. In December, Vastu Housing raised $100 million from Prosus while Easy Home Finance raised $35 million led by Ranjan Pai’s family office and other investors. In September last year, home finance startup Basic Home Loan raised $10.6 million in a Series B funding round. In October, Vridhi Home Finance also raised $35 million in a round led by Norwest Venture Partners.

Emversity raises $30 Mn in Series A led by Premji Invest

EntrackrEntrackr · 2m ago
Emversity raises $30 Mn in Series A led by Premji Invest
Medial

Emversity raises $30 Mn in Series A led by Premji Invest Higher-education embedded training and employability platform Emversity has raised $30 million (Rs 271 crore) in a Series A funding round led by Premji Invest, with participation from Lightspeed and Z47. The round takes the company’s total funding to $46 million. Emversity is operated by Beyond Odds Technologies, which was launched in April 2024 by Vivek Sinha, former COO of Unacademy, with an initial $11 million seed round led by Matrix Partners India (Z47) and Lightspeed. Soon after the launch, Emversity had raised $5 million in a pre-Series A round led by Lightspeed and Z47, with participation from Alteria Capital and InnoVen Capital. The fresh proceeds will be used to expand Emversity’s presence to over 200 campuses, strengthen its position in healthcare and hospitality skills, and launch new verticals in EPC and manufacturing. It also plans to enhance its technology platform spanning career discovery, training, and employability outcomes, and explore access to select global workforce demand for India-trained talent. Emversity works with universities to embed industry-aligned, work-integrated training into degree programs. The platform focuses on improving employability outcomes by aligning academic learning with real-world workforce requirements. It also runs employer-linked skill centres, particularly in healthcare and hospitality, in affiliation with the National Skill Development Corporation (NSDC). In less than two years, Emversity claims to have scaled to 4,500 learners across 40 campuses. Its programs are designed with employers to create predictable talent pipelines, especially for sectors facing workforce shortages. The brand currently supports healthcare and hospitality roles, with learners placed across large hospital chains and hotel groups.

Dezerv reports Rs 26 Cr revenue and Rs 75 Cr loss in FY24

EntrackrEntrackr · 1y ago
Dezerv reports Rs 26 Cr revenue and Rs 75 Cr loss in FY24
Medial

Dezerv, a company backed by Premji Invest, reported a revenue of Rs 26.25 crore and a loss of Rs 74.53 crore for the fiscal year ending March 2024. The revenue grew by 160% compared to the previous year, while losses increased by 95.1%. The total income for the year was Rs 26.33 crore, with significant expenses in employee costs (Rs 63.34 crore), marketing (Rs 18.48 crore), legal (Rs 4.13 crore), and miscellaneous expenses (Rs 14.89 crore), totaling Rs 100.84 crore. The company’s ROCE was -64.9% and EBITDA margin was -267.45%. Dezerv had cash and bank balances of Rs 100 crore and current assets worth Rs 122 crore. In FY23, the company had a revenue of Rs 10.22 crore and a loss of Rs 38.20 crore. The company raised $60 million in funding, with investors including Premji Invest, Elevation Capital, Matrix, and Accel. Dezerv targets high net-worth individuals (HNIs) with an investment threshold ranging from Rs 15 lakhs to several crore rupees, focusing on portfolio management services for working professionals.

Exclusive: Wealthtech startup Stable Money raises $15 Mn in new round

EntrackrEntrackr · 1y ago
Exclusive: Wealthtech startup Stable Money raises $15 Mn in new round
Medial

Wealthtech startup Stable Money has raised over Rs 123 crore nearly $15 million in a new round from RTP Capital, Lightspeed India, and Matrix Partner. The Bengaluru-based company has become one of the few startups to close two rounds within a year, especially during the so called funding winter. The board at Stable Money has passed a special resolution to issue 77,135 CCPS at price of Rs 16,019 each to raise Rs 123.56 crore or $14.74 million, its regulatory filing accessed from the Registrar of Companies (ROC) shows. RTP Capital led the round with Rs 54.26 crore ($6.5 million) while Lightspeed India and Matrix Partners India pumped in Rs 34.64 crore ($4.15 million) each in this round. In August 2023, Stable Money scooped up $5 million in its first equity fundraise led by Matrix Partners and Lightspeed. Titan Capital, Mar Shot Ventures and a clutch of prominent angel investors also participated in the round. As per startup data intelligence platform TheKredible, Stable Money will be valued at around $60 million post money. This is nearly four fold jump in valuation from $16.5 million in the last round. Founded in late 2022 by Saurabh Jain and Harish Reddy, Stable Money is building a fixed-return investment platform to provide financial consultation services to investors. The platform will also publish financial literacy content on its online platform to create awareness among investors. A clutch of wealthtech startups have managed to score decent funding in the ongoing calendar year. Recently Deserv raked in $32 million in its Series B round led by Premji Invest. In May, wealth management platform Wealthy raised $5.4 million in a new round led by Alpha Wave Incubation Fund.

Emversity buys back Rs 6.5 Cr ESOPs from 20 employees

EntrackrEntrackr · 7d ago
Emversity buys back Rs 6.5 Cr ESOPs from 20 employees
Medial

Emversity buys back Rs 6.5 Cr ESOPs from 20 employees Higher-education embedded training and employability platform Emversity has bought back employee stock options worth Rs 6.5 crore from 20 employees as part of a liquidity programme. The buyback was extended to employees who joined the company on or before January 31, 2024. According to the company’s HR leadership, Emversity currently has more than 700 employees and operates across 24 states through over 60 locations in India. The development comes soon after Emversity’s $30 million Series A round led by Premji Invest. Emversity is operated by Beyond Odds Technologies, which was launched in April 2024 by Vivek Sinha, former COO of Unacademy, with an initial $11 million seed round led by Matrix Partners India and Lightspeed. Soon after the launch, Emversity had raised $5 million in a pre-Series A round led by Lightspeed and Z47. It also runs employer-linked skill centres, particularly in healthcare and hospitality, in affiliation with the National Skill Development Corporation (NSDC). In less than two years, Emversity claims to have scaled to 4,500 learners across 40 campuses. Its programs are designed with employers to create predictable talent pipelines, especially for sectors facing workforce shortages. The brand currently supports healthcare and hospitality roles, with learners placed across large hospital chains and hotel groups.

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