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Zepto in talks for $250 Mn secondary round

EntrackrEntrackr · 3m ago
Zepto in talks for $250 Mn secondary round
Medial

Zepto in talks for $250 Mn secondary round Quick commerce and foodtech firm Zepto is in talks for a $250 million secondary round, allowing existing stockholders to offload equity. The move aims to increase Indian investor ownership ahead of Zepto's planned IPO later this year. Bloomberg, which reported the development first, said that the private equity arms of Motilal Oswal Financial and Edelweiss Financial Services are in discussions to acquire shares in this secondary sale. The transactions are expected to take place at a valuation of over $5 billion. It’s worth noting that Zepto raised its last round worth $350 million at the same valuation ($5 billion), where Motilal Oswal was the lead investor. In 2024, the Aadit Palicha-led company raised $1.35 billion, bringing its total funding to $1.85 billion since its inception. Zepto delivers over 25,000 products across various categories within 10 minutes via its extensive network of dark stores. The firm operates more than 550 dark stores and processes upwards of 700,000 orders daily. Through a separate app, Zepto Cafe, it’s also one of the leading 10-minute food delivery service providers. As per TheKredible, Zepto’s revenue from operations surged 2.2X to Rs 4,454 crore in FY24 from Rs 2,026 crore in FY23. Meanwhile, the company managed to reduce its losses marginally by 2% during the same period. Earlier this year, Zepto shifted its domicile from Singapore to India, a move that will expedite the process of listing on the Indian stock exchange.

Zactor Tech raises pre-seed round at valuation of $3 Mn

EntrackrEntrackr · 1y ago
Zactor Tech raises pre-seed round at valuation of $3 Mn
Medial

Financial wellness and literacy brand Zactor Tech has secured an undisclosed amount of funding in its pre-seed round at a valuation of $3 million co-led by HNIs. The funds will be allocated towards product development, user acquisition and financial literacy, Zactor said in a press release. Co-founded in 2023 by Abhishek Walia and Shivam Parihar, Zactor is a digital platform for personal finance. Zactor focuses on modernizing personal finance with technology, covering every aspect including Goals, Investment, Retirement, and Insurance Planning. With more than 7 years of experience in wealth Management, the duo have identified the major gap in the personal finance space and they want to build India’s first financial wellness platform to provide a personalized financial path for everyone. It offers a goal-based saving platform for users to maintain financial wealth. Zactor claims to have witnessed a monthly user growth of 2x from the last 6 months.

VCs fire up wealthtech investments as stock market surge ignites HNI boom

Economic TimesEconomic Times · 11m ago
VCs fire up wealthtech investments as stock market surge ignites HNI boom
Medial

Indian wealthtech startups are receiving substantial investments as the country's stock markets expand and wealth generation increases. Market intelligence platform Tracxn reports that investors have poured around $228 million into Indian wealthtech startups in the past two years, with $70 million invested so far in 2024. The sector is attractive due to the growing number of high net-worth individuals (HNIs) in India. Wealthtech firms utilize data analytics and technology to offer personalized investment strategies at a lower cost compared to traditional wealth management services. Two types of wealthtech startups are emerging: those focused on premium wealth management and those building fixed income products and platforms for alternative asset classes.

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