New Delhi, April 6 (PTI) Chennai-based Mahaveer Finance has raised Rs 20 crore in bridge capital with structured financing from Blacksoil Capital.

The funds will be used to meet its AUM (assets under management) target of Rs 500 crore for the year, a statement said on Tuesday.

Founded in 1981, Mahaveer Finance finances used commercial and passenger vehicles. It claims to have recorded 48% year-over-year growth from Rs 30 crore in FY15 to a current portfolio of Rs 300 crore with over 11,000 active clients.

“The infusion of funds would strengthen the company’s balance sheet and allow us to exploit the growth opportunities that continue to emerge in the current market towards our broader target of Rs 2,000 crore over the next 3 years. transaction will be a springboard for the next Rs 100 crore Series C fundraiser, ”said Praveen Dugar, financial promoter of Mahaveer.

***** 9Licorns leads investment in OneStack *

9Licorns said on Tuesday that it recently made a fundraising round investment in OneStack, a super finance app.

Institutional investors such as Angel Bay and Faad Network also participated in the seed funding round, as well as angel investors such as Kunal Shah and Abhishant Pant, according to a statement.

The amount raised by the company was not disclosed.

The startup’s proposal involves a partnership with long-tail banks to provide white-label fintech solutions to their clients, thus transforming conventional banking players into neo-banks.

The app has a single dashboard that displays a user’s assets and liabilities, including their balance sheet and net worth, on a single platform.

***** Kudos raises funds from Nithin Kamath of Zerodha, others *

Digital lending infrastructure firm Kudos said on Tuesday it had raised funds from a group of investors, including Nithin Kamath of Zerodha, Nitin Gupta of UNI, Patanjali Somayaji of Walnut, Sumit Maniyar of Rupeek and Nischal Shetty of WazirX.

Anish Achuthan (Open Banking), Ganesh Rao (NOCP), Amit Choudhary (DawaaDost), the management team of One Card and Vaibhav Domkundwar of Better Capital also participated in the pre-Series A funding round, according to a statement. .

The amount raised by the company was not disclosed.

“We are profitable and growing month by month and we are adding partners in the agri, fintech, edtech, revenue-based finance and other segments faster than ever before and we we are now preparing to lift a Series A to scale and become the biggest company in space over the next 18 months, ”said Pavitra Walvekar, co-founder and CEO of Kudos.

Kudos has so far facilitated 2 million loans, disbursing Rs 2,000 crore to around six lakh customers.

***** We Founder Circle leads $ 250,000 fundraising round in Karnival *

We Founder Circle (WFC), a platform for investing in startups, announced on Tuesday that it had conducted a $ 250,000 (Rs 1.8 crore) funding round at Karnival.

Karnival is software as a customer engagement platform that enables retailers and brands to create personalized post-purchase customer journeys using smart receipt technology.

The cycle also saw the participation of investors like Krishna Kumar (founder of Simplilearn), Dravya Dholakia (Dholakia Ventures), Shashwat Kumar (Khetal Advisors Singapore), business leaders Abhay Tandon, Dinesh Agrawal, Avnish Sabharwal, Abhishek Kishore Gupta and Suman Das, a statement mentioned.

Karnival had previously raised $ 35,000 in a 2020 preselection round from 100X.VC backed by Sanjay Mehta, he added.

“The goal is to move from paper receipts to smart digital receipts to create an ecosystem that keeps the customer experience unique. In a very short time, we have already partnered with leading retailers and brands, revolutionizing their procedures, ”Siddharth Mishra, Founder and CEO of Karnival, said.

(This is an unedited, auto-generated story from the syndicated news feed, the staff at LatestLY may not have edited or edited the body of the content)


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