Venture debt firm Stride Capital’s non-banking financial company (NBFC) arm, StrideOne, has successfully raised ₹100 Cr (about $11 Mn) in a combination of equity and debt capital from undisclosed investors. The funding will be used to expand enterprise anchor programs, enhance the partner-lender network, and strengthen technology and risk infrastructure.
Accompanying this funding round, StrideOne has appointed Rajesh Sud, the former chairman of Axis Max Life Insurance, as its cofounder and chairman. Sud’s responsibilities include guiding StrideOne’s long-term strategy, fortifying governance, and overseeing risk frameworks. Additionally, Sud has acquired an equity stake in the company, though the financial details remain undisclosed.
With over three decades of experience primarily at Axis Max Life Insurance, Sud’s background encompasses key leadership roles. He held the position of CEO & Managing Director at Axis Max Life Insurance for close to twenty years. Sud has also contributed his expertise as the chairman of Niva Bupa Health Insurance and Managing Director – Financial Services at Bharti Enterprises, overseeing Bharti AXA Life Insurance and Bharti AXA General Insurance while serving on the board of Airtel Payments Bank. Earlier in his career, he held significant positions at Bank of America and ANZ Bank.
In 2024, StrideOne reinforced its team by appointing Hardeep Singh, former GE Capital chief financial officer, as its first CFO to strengthen its financial operations.
Source: Inc42 Media