Tag: Entrackr : Latest Posts

Peak XV Partners, following its separation from Sequoia Capital, has successfully closed a $1.3 billion fund encompassing its India Seed, India Venture, and Asia Pacific funds. This significant capital infusion marks the firm’s commitment to supporting startups at various growth stages in India and the broader Asia Pacific region.

Recognizing the burgeoning opportunities in artificial intelligence, Peak XV aims to back startups across the tech landscape in India and the Asia Pacific. While Silicon Valley has historically dominated AI advancements, the firm acknowledges the expanding potential in these regions, driven by enhanced market depth, top-tier talent, and the global aspirations of regional startups.

Shailendra Singh, Managing Director at Peak XV Partners, affirmed the firm’s strategy to continue funding startups across seed, venture, and growth stages, with investments ranging from single-digit million dollars to $100 million. Additionally, the focus on building an India-APAC corridor underscores the firm’s strategic cross-border approach.

This fundraising achievement follows Peak XV’s 2022 commitment of $2.85 billion for growth and venture capital activities in India and Southeast Asia, with a significant portion allocated to India. The firm has also demonstrated adaptability, as evidenced by a 16% reduction in fund size in 2024 due to soaring public market valuations in India.

Furthermore, the fundraise coincides with several portfolio companies of Peak XV experiencing positive momentum in the public markets. With Meesho, Groww, and Pine Labs already listed, Zetwerk, Curefoods, and Infra.Market are preparing for their IPOs, reflecting the firm’s successful backing of startups.

Source: Entrackr : Latest Posts

Roopya, a SaaS-based lending infrastructure platform, has successfully raised Rs 4 crore in a seed funding round led by Inflection Point Ventures (IPV). The capital infusion will be used to bolster Roopya’s lending infrastructure and enhance its embedded finance capabilities.

Co-founded by Sudipta Kumar Ghosh and Raman Vig, Roopya offers a SaaS-based lending infrastructure platform tailored for NBFCs and fintech lenders. The platform’s standout feature is its no-code, AI-powered Lending-as-a-Service (LaaS) stack, enabling financial institutions to roll out loan products within 4–6 days.

Roopya’s platform includes a fully automated Loan Origination System (LOS), encompassing e-KYC, underwriting, disbursement, and collections, all in adherence to RBI guidelines to ensure regulatory compliance throughout the lending process.

The company collaborates with over 20 lenders, collectively processing more than 30,000 loans per month. In the ongoing fiscal year, the platform has facilitated loans exceeding Rs 100 crore, operating across 10 states and supporting over 1,100 point-of-sale terminals.

Roopya claims to streamline operational costs by up to 30% and reduce loan processing time by over 50% for its clients, offering enhanced efficiency and cost savings.

Currently, Roopya processes approximately Rs 200 crore in annual loan volume, marking a 12% year-on-year growth trajectory.

Source: Entrackr : Latest Posts

Progcap, a fintech company backed by Peak XV and Tiger Global, nearly doubled its revenue in the fiscal year ending March 2025, while also significantly reducing its losses. The company’s revenue from operations surged by 93% to Rs 268 crore in FY25, up from Rs 139 crore in FY24. Progcap specializes in providing debt capital to underserved micro and small businesses, digitizing supply chains, and offering financial access to last-mile retailers. Additional income from interest and investments helped push Progcap’s total income to Rs 278 crore in FY25.

The company managed its expenses efficiently, keeping employee benefit costs steady while witnessing a substantial increase in finance costs and write-offs. Despite expenses growing by 37% to Rs 279 crore in FY25, Progcap successfully reduced its losses by 87% to Rs 6 crore from Rs 46 crore in FY24. The firm achieved a positive EBITDA of Rs 75 crore with an EBITDA margin of 27.99% and reported a Return on Capital Employed (ROCE) of 7.40%.

Progcap’s ability to generate more revenue than expenses showcases its financial resilience and strategic management. The company’s performance positions it as a key player in the fintech sector, especially with its approach to serving retailers in tier 2 and 3 markets. Progcap’s growth trajectory and potential IPO candidacy make it a noteworthy entity in the financial technology landscape.

Source: Entrackr : Latest Posts

Portkey, a platform for building AI-powered applications, has secured $15 million in a Series A funding round led by Elevation Capital, with participation from Lightspeed. This investment will enable Portkey to expand its AI control plane and enhance its go-to-market operations, focusing on agent-based systems, permissions, identity management, and performance optimization for low-latency use cases.

Founded by Rohit Agarwal, Portkey specializes in building a unified control plane for production AI systems. Their platform integrates an AI gateway with governance, observability, reliability, and cost management functionalities, allowing enterprises to efficiently manage model usage, enforce policies, and monitor spending in real-time.

Portkey boasts impressive processing capabilities, handling over 500 billion LLM tokens daily, 125 million requests, and managing $500,000 in AI spend for 24,000 organizations globally. Customers such as Postman and Snorkel AI have benefited from Portkey’s services.

In a strategic move, Portkey has made its core enterprise gateway accessible for free, simplifying the implementation of governance and observability controls for AI deployments. This initiative aims to encourage early adoption of essential AI management practices.

Elevation Capital’s $400 million fund, launched last year, emphasizes long-term support for companies, including those eyeing IPOs. This investment complements their early-stage capital deployments from Fund VIII, a $670 million vehicle catering to startups with investments ranging from $2–5 million.

Source: Entrackr : Latest Posts

Crypto exchange CoinDCX has announced a significant ESOP (Employee Stock Ownership Plan) buyback valued at Rs 111 crore, benefiting over 500 current and former employees. This move aims to foster wealth creation within the company.

The buyback follows CoinDCX’s substantial post-money valuation of $2.45 billion after receiving an undisclosed investment from Coinbase earlier this year. The platform also garnered $135 million in funding in April 2022, solidifying its position in the crypto market.

CoinDCX co-founder Sumit Gupta highlighted the resilience of the Indian crypto industry despite regulatory challenges. He credited the company’s strength to the trust of millions of customers in India and the UAE, as well as support from investors and partners.

Established in 2018, CoinDCX offers crypto trading and investment services to a user base exceeding 20 million in India. The platform caters to both retail and institutional investors, with a wide array of supported assets and trading pairs. In 2024, CoinDCX expanded into the MENA region through the acquisition of BitOasis.

Operating under the DCX Group umbrella, which includes CoinDCX Ventures and the Web3 wallet platform Okto, CoinDCX has positioned itself as a prominent player in the crypto space.

This ESOP buyback aligns with a broader trend in 2026, with several notable companies like Cashfree, Innovaccer, and BrowserStack also implementing similar programs. The activity in ESOP buybacks reflects a dynamic shift in employee incentivization strategies within the tech and startup ecosystem.

Source: Entrackr : Latest Posts

JM Financial Asset Management has unveiled its inaugural pre-IPO Alternative Investment Fund (AIF), dubbed ‘The Pre-IPO Fund,’ under Category II. The fund recently secured approval from the Securities and Exchange Board of India (SEBI), marking the firm’s strategic move to enter the rapidly growing pre-IPO investment sector.

The primary objective behind introducing the Pre-IPO Fund is to establish a comprehensive AIF ecosystem that nurtures the upcoming wave of businesses in India. This initiative is structured to offer specialized capital solutions spanning credit, real estate, and pre-IPO prospects.

Targeting companies poised to go public within 18 months, the Pre-IPO Fund is designed to capitalize on the escalating trend of pre-IPO investments, recognized for their potential to yield superior risk-adjusted returns, especially amidst the maturing startup and private markets in India.

Overseeing the fund’s operations is Jaisinh Suchak, the Managing Director of Alternative Investment Funds at JM Financial Asset Management, bringing extensive financial services experience spanning 23 years and a decade of buy-side expertise to the table.

By rolling out its debut Pre-IPO AIF, JM Financial Group aims to diversify its private equity offerings and solidify its standing as a reliable investment partner. Leveraging market insights, robust governance protocols, and established fund management capabilities, the firm seeks to unearth distinctive investment prospects for stakeholders navigating India’s evolving private markets.

Source: Entrackr : Latest Posts