Full-stack financial services platform WeRize has secured Rs 64 crore (around $6.9 million) in debt funding, with Sony Innovation Fund leading the investment round. 3one4 Capital, an existing investor, is also participating in this funding initiative.
According to regulatory filings, WeRize’s board has approved the issuance of 10,150 non-convertible debentures totaling Rs 64 crore. Sony Innovation Fund will inject approximately Rs 46 crore, while 3one4 Capital will provide the remaining Rs 18 crore. These funds will be used to bolster operational activities, cater to working capital requirements, fund capital expenditures, and facilitate business expansion.
WeRize, founded by former Lendingkart executives Vishal Chopra and Himanshu Gupta, offers tailored credit, insurance, and savings products to over 300 million individuals in 4,000+ tier II to tier IV towns. The company leverages data insights to craft personalized financial solutions, including credit, group insurance, and savings products.
In its previous funding round in June 2022, WeRize raised $15.5 million at a $115 million valuation, with support from British International Investment, Sony Innovation Fund, and existing investors. The company’s operating revenue surged by 64% to Rs 236 crore in FY25 from Rs 144 crore, accompanied by a profit doubling to Rs 10 crore during the same period.
Source: Entrackr : Latest Posts