Tag: Entrackr : Latest Posts

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

In-app communication platform CometChat has secured $6.5 million (Rs 60 crore) in funding from existing investor Run Ventures. This investment brings the company’s total raised amount to $21.1 million, including a previous $10 million Series A funding. The latest funding will support CometChat’s AI expansion strategy as the company aims to enhance its core business operations towards profitability.

Established in 2009 by Anuj and Anant Garg, CometChat provides a versatile conversational platform that integrates real-time chat, voice, video, AI agents, moderation, notifications, and analytics for developers. The platform caters to a wide range of users, from early-stage startups to large enterprises.

CometChat’s AI strategy focuses on three key components: proactive outbound intelligence, multi-agent orchestration, and a customer intelligence layer. The platform enables businesses to create and deploy conversational AI agents without the need for coding or specialized AI knowledge. Leveraging six years of communication infrastructure, CometChat serves as an interface connecting businesses with their customers.

CometChat’s platform features a user-friendly visual workflow builder that simplifies the management of multiple AI agents, defines handoffs, facilitates escalation to human support, and allows for brand-specific customization.

Source: Entrackr : Latest Posts

Akshayakalpa Organic, an organic dairy startup, has announced a significant funding milestone. The company is set to raise Rs 175 crore in its Series D round, led by ABC Impact Fund, with several other investors participating.

The funding round includes the issuance of 36.81 lakh Series D compulsory convertible preference shares at an issue price of Rs 475 per share. ABC Impact is leading the investment, injecting Rs 101 crore, while Rainmatter, Asha Ventures, and Catamaran Ventures are also contributing substantial amounts. Existing investors like Waterfield Fund, Pratithi Growth Fund, and A91 Partners are expected to join the round.

The funding is estimated to value Akshayakalpa Organic at around Rs 1,600–1,700 crore post-money, reflecting investor confidence in the company’s growth potential. The capital will be used for the company’s working capital needs and expansion strategies, aligning with its vision to scale operations and reach a wider consumer base.

The round also includes a secondary component, where ABC Impact Asia facilitates exits for early investors, streamlining the company’s investor portfolio.

Akshayakalpa Organic, founded by GNS Reddy and Shashi Kumar, leverages technology to deliver organic milk and dairy products efficiently to a vast consumer base daily. The company’s tech-driven direct-to-consumer platform has enabled it to reach over 60,000 consumers across multiple cities, with products available in retail outlets and various online platforms.

This funding round marks a significant step for Akshayakalpa Organic as it prepares for further expansion and growth in the organic dairy market, showcasing the importance of technology in driving innovation and scalability in the sector.

Source: Entrackr : Latest Posts

The Reserve Bank of India (RBI) has officially authorized CRED to function as a Payment Aggregator (PA), a significant milestone for the fintech company. This endorsement empowers CRED to enlist merchants, conduct payments on their behalf, and oversee settlements and refunds across various payment methods.

The approval has been granted to Dreamplug Paytech Solutions Private Limited, the entity overseeing CRED’s payment operations. This green light now places the company’s payment system directly under the regulatory oversight of the RBI.

This final authorization arrives approximately two years after the initial in-principle approval granted by the RBI, signifying a crucial step in CRED’s operational scope.

Additionally, CRED and its affiliated entities currently possess a spectrum of regulatory licenses, including a Prepaid Payment Instrument (PPI) license from the RBI and a corporate agency license from the Insurance Regulatory and Development Authority of India.

In the fiscal year 2025, CRED facilitated payments amounting to over Rs 8.5 lakh crore for more than 1.5 crore users, solidifying its significant impact on India’s financial landscape. The company claims that a substantial portion of credit card bill payments in India are currently channeled through its platform.

Established by Kunal Shah, CRED offers users a comprehensive suite of financial management tools, including credit card payment management, credit score tracking, and financial activity monitoring across accounts.

Source: Entrackr : Latest Posts

Banking infrastructure startup M2P Fintech reported a 33% year-over-year increase in operating scale, surpassing the Rs 500 crore revenue mark in the fiscal year ending March 2025. The company’s API infrastructure enables businesses to launch branded financial services through fintech partnerships across Asia Pacific, MENA, and Oceania.

Despite the revenue surge to Rs 506 crore, up from Rs 382 crore in FY25, M2P Fintech’s costs escalated by 90% during the same period. The firm’s revenue streams include API usage fees, card management charges, and commissions from banking collaborations.

While the company generated revenue primarily domestically, it saw minimal export earnings. Notably, M2P also received income from non-operational sources, totaling Rs 531 crore last fiscal year.

Technology expenditures, cloud services, and co-branding accounted for a significant portion of M2P’s costs, doubling to Rs 325 crore in FY25. Employee benefits expenses rose by 24%, reaching Rs 311 crore.

Legal, advertising, and other overheads contributed to M2P’s total expenses of Rs 786 crore, reflecting a 49% year-over-year surge. The company’s losses widened by 91%, driven by increased technology-related costs.

Source: Entrackr : Latest Posts

Bengaluru-based food delivery startup Swish has secured Rs 282.5 crore, approximately $30 million, in its Series B funding round. The investment is led by existing investor Hara Global and includes participation from Accel India and Bain Capital Ventures.

Swish plans to issue 5,843 Series B compulsory convertible preference shares to raise the mentioned amount, as per regulatory filings. Hara Global Capital will lead the round with a $14 million investment, followed by Bain Capital Ventures and Accel India contributing around $10 million and $7 million, respectively.

Estimates indicate that Swish’s valuation is expected to increase over 2.4 times to around $140 million post-money, compared to $60 million from its previous Series A round.

Accel India will hold the largest stake at 26.2% after the new round, followed by Hara Global at 20.43%. Bain Capital Ventures, a new investor, will possess a 7.19% stake. Swish’s co-founders Aniket Shah, Sureshkumar Saran, and Ujjwal Sukheja will each retain 12.72% ownership.

Founded in 2024, Swish operates on a 10-minute delivery model within a 1.5–2 km radius using cloud kitchens termed delight centers. This funding will likely boost Swish’s technological infrastructure to enhance its ultra-fast food delivery services.

Source: Entrackr : Latest Posts

Electric two-wheeler manufacturers Ather Energy and Ola Electric are pursuing divergent network expansion strategies amidst contrasting financial performances.

Ather recently announced an increase in its service network to 500 centers, up from 277 in FY25. This expansion aligns with its plan to grow its retail presence from 600 to 700 experience centers by FY26.

In contrast, Ola Electric is streamlining its physical retail network to approximately 550 stores, down from its previous count of about 700 outlets. This move follows the company’s earlier ambition to establish 4,000 stores nationwide.

The disparity in their Q3 FY26 financials is pronounced. Ather reported a revenue of Rs 954 crore and reduced losses by 57%, whereas Ola Electric experienced a 55% revenue decline to Rs 470 crore during the same period, managing to curtail losses through cost-cutting measures.

February 2026 sales figures underscore the significant gap between the two companies. Ather registered 20,581 vehicle sales, securing an 18.43% market share and positioning itself among the leading EV two-wheeler manufacturers. Conversely, Ola Electric’s 3,968 registrations in the same month resulted in a diminished market share of 3.55%, causing it to drop out of the top five players.

The contrasting strategies reflect Ather’s focus on expanding its service and retail infrastructure, while Ola Electric is consolidating its store presence from 700 to 550 outlets, deviating from its initial plan of a larger network.

Notably, Ola Electric’s shares recently hit an all-time low, with a market cap of Rs 10,400.74 crore ($1.12 billion), significantly lower than Ather Energy’s market cap of Rs 27,760.51 crore ($3.00 billion).

Source: Entrackr : Latest Posts

Navi, a fintech company co-founded by Sachin Bansal of Flipkart, has entered the motor insurance market with a digital-first approach, directly targeting customers.

Leveraging its general insurance arm, Navi will provide car and two-wheeler insurance policies through its app, offering various coverages like comprehensive, own-damage, and third-party options. The platform allows for instant policy issuance, digital document storage, and a seamless paperless purchasing process.

With a zero-commission model, Navi eliminates intermediaries such as agents and dealers, ensuring transparent pricing and cost savings for consumers. Additionally, the company will offer add-on features like zero depreciation, roadside assistance, engine protection, and coverage for electric vehicles, all managed through an in-house digital claims system.

Competing directly with established players like Acko General Insurance and Go Digit General Insurance in the digital motor insurance sector, Navi aims to differentiate itself through competitive pricing, app-centric policy purchases, and efficient claims processing. However, to gain traction, Navi will need to scale up its operations and build customer trust in the motor insurance domain.

Source: Entrackr : Latest Posts

Steadview Capital, a prominent global investment firm focused on technology, has appointed Maneesh Menon as its new India director. Menon, previously part of the investment team at Eight Roads Ventures, will succeed Puneet Kumar, who departed last year to become the India CEO at Mirae Asset Venture Investments.

With over $3 billion in assets under management, Steadview Capital actively invests in public and private companies worldwide, particularly those driven by technology. The firm’s portfolio includes leading tech companies such as Dream11, Nykaa, Unacademy, Freshworks, Ola, and Zomato.

This strategic appointment underscores Steadview Capital’s commitment to expanding its presence in the Indian tech landscape. Maneesh Menon’s extensive investment experience positions him well to drive the firm’s tech-focused investment strategies in India and contribute to the growth of the companies within its portfolio.

Source: Entrackr : Latest Posts

Wealthtech startup Stable Money has recently completed a $25 million pre-Series C funding round, led by Peak XV Partners along with Z47, RTP Global, and Fundamentum Partnership. The round has increased the company’s valuation to $175 million, marking a significant 3.6X increase in less than two years, as analyzed by Entrackr. Following the investment allocation, the founders’ stake has decreased to approximately 30%.

This funding marks the second successful round for the Bengaluru-based firm in eight months. Previously, Stable Money secured a $20 million Series B funding led by Fundamentum. Entrackr’s exclusive reporting has provided details on the breakdown of this recent funding round and the company’s comprehensive cap table.

Stable Money’s board has approved the issuance of 54,491 pre-Series C CCPS at an issue price of Rs 42,103 per share, raising Rs 229.4 crore (about $25 million) as per the filing with the Registrar of Companies (RoC). Peak XV Partners emerged as the primary investor, contributing Rs 183.5 crore ($20 million), followed by Z47, RTP Global, and Fundamentum.

After this funding, Stable Money’s valuation has surged over 47% from the Series B round and over 3.6X from the Series A round in July 2024. Post this round, Z47 has become the largest external shareholder with a 17.9% stake. Lightspeed Venture Partners and RTP Global follow with 13.04% and 12.7%, respectively. Peak XV Partners will hold an 11.43% stake, while co-founders Saurabh Jain and Harish Reddy will retain 15.35% each.

Established in 2022, Stable Money offers a fixed-income investment platform enabling users to compare and invest in fixed deposits, bonds via Stable Bonds, and other low-risk instruments across multiple banks.

Source: Entrackr : Latest Posts