Fintech startup Credilio has successfully raised approximately $3.3 million in its Series A funding round, with Cornerstone Ventures leading the investment and Ashra Private Equity Fund also participating. The company issued 2,481 compulsory convertible cumulative preference shares at an issue price of $1,20,880 per share, resulting in a significant valuation increase of 2.7X to approximately $36.5 million post-money.
The funding will be used to fuel Credilio’s growth, expansion, and general corporate purposes, with potential for additional capital raising as the round progresses. Following this round, Cornerstone Ventures and Ashra Private Equity Fund hold 17.90% and 3.03%, respectively, on a fully diluted basis, while the company’s cofounders maintain 12.21% each.
Founded in 2020, Credilio operates as a digital platform that facilitates the seamless distribution of credit cards and loan products by connecting financial advisors, lenders, and consumers. The startup’s revenue remained stable at approximately $9.9 million in FY25 compared to FY24, with a slight decrease in losses to around $2.7 million during the same period.
Source: Entrackr : Latest Posts