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New Delhi, <keyword id="2461546" type="DOMAIN" weightage="20" keywordseo="FinTech">FinTech</keyword> services company <keyword id="7349800" type="PERSON" weightage="20" keywordseo="bharatpe">BharatPe</keyword> on Monday announced that it has raised ₹139 crore (nearly $20 million) in debt from <keyword id="4844054" type="COMPANY" weightage="20" keywordseo="Alteria-Capital">Alteria Capital</keyword> and <keyword id="6653" type="DOMAIN" weightage="20" keywordseo="ICICI-bank">ICICI Bank</keyword>. The company raised ₹90 crore in debt from Alteria Capital and ₹49 crore from ICICI Bank. The company has raised a total of ₹199 crore in debt to date. "We have committed ourselves to have $700 miilion of <keyword id="6362287" type="UNKNOWN" weightage="20" keywordseo="loans">loans</keyword> to small merchants and kirana store owners by March 2023 and are hoping to on-board more institutional debt partners in the near future," said Ashneer Grover, <keyword id="170488" type="COMPANY" weightage="20" keywordseo="co-founder">Co-Founder</keyword> and CEO, BharatPe. "We aim to become a digital bank that is the one-stop destination for merchants for all kinds of financial services and this tranche of funds will get things rolling". The company is disbursing loans of ₹200 crore per month to merchant partners currently and has set a target of disbursing ₹1,000 crore of loans in the FY21. "We have already disbursed loans to more to 1 lakh merchants and aim to scale this up by 8-10 times and enable credit for a million (10 lakh) kirana store owners in 2021," said Suhail Sameer, Group President, BharatPe. Last week, BharatPe announced that it has raised ₹60 crores in debt from Innoven Capital, Asia's leading venture debt and specialty lending firm. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/how-rakesh-jhunjhunwala-backed-nazara-technologies-is-preparing-for-its-big-ipo-debut/articleshow/80321946.cms">The startup behind Chhota Bheem, Motu Patlu and Shikari Shambhu is back with an IPO plan ⁠⁠— after a series of acquisitions and fundraisings</a> <a href="https://www.businessinsider.in/stock-market/news/heres-what-analysts-have-to-say-about-the-4634-crore-indian-railway-finance-corporation-irfc-ipo/articleshow/80323479.cms?upcache=2">The ₹4,600 crore IPO from IRFC is ‘attractive,’ and the best thing about the borrowing arm for Indian Railways is the assured margin</a>

BharatPe gets $20 million in debt funding from Alteria Capital and ICICI Bank — aims to raise a total of $700 million in the next two years

New Delhi, Dec 10 () Co-living operator Stanza Living has raised USD 5.7 million (around Rs 40 crore) from venture debt fund Alteria Capital to fund its expansion plan and future growth.
 Alteria Capital, had earlier invested USD 4.3 million (Rs 30 crore) in Stanza Living, taking the total debt infusion to USD 10 million (Rs 70 crore).
 Founded in 2017, Stanza Living has so far raised USD 70 million from investors like Falcon Edge Capital, Sequoia Capital, Accel, Matrix Partners and Alteria Capital.
 "The capital infusion will enable us to further increase the pace of our strategic growth across markets through organic and inorganic measures," said Anindya Dutta, Managing Director and Co-Founder, Stanza Living.
 Stanza Living has an inventory of more than 47,500 beds across cities like Delhi-NCR, Bengaluru, Pune, Hyderabad, Chennai, Coimbatore, Indore, Vadodra and Dehradun.
 Sandeep Dalmia, MD and co-founder, said the company has scaled up its business significantly in last few years and would continue deepening access to consumers across the country.
 "Through this partnership, we are together working on creating financing and funding structures that will set a new precedent for the industry in India," said Ajay Hattangdi, Managing Partner, Alteria Capital.
 Co-working and co-living segments have gained momentum in India on rising demand for shared office as well as accommodation space.
 In its study, News Corp and Softbank-backed realty portal PropTiger has termed the co-living space as "real estate goldmine" and said that this segment has potential to become USD 93 billion market annually on rising demand from students and professionals. MJH DRR

Stanza Living raises Rs 40-cr from Alteria Capital

The founders of <keyword id="6414960" type="General" weightage="20" keywordseo="zestmoney" source="Orion">ZestMoney</keyword>, India's digital EMI financing platform, have reportedly resigned as the Goldman Sachs-backed fintech startup has failed to raise fresh capital. According to a TechCrunch report, its founders <keyword id="6632662" type="General" weightage="50" keywordseo="lizzie-chapman" source="Orion">Lizzie Chapman</keyword>, <keyword id="291941" type="General" weightage="50" keywordseo="priya-sharma" source="Orion">Priya Sharma</keyword> and Ashish Anantharaman informed employees about their decision via an email. "Over the last few weeks, we have done a lot of thinking and it has been hard for us to arrive at this conclusion. We have immense belief and faith in the potential that ZestMoney has," the founders wrote. "We will also ensure to provide full support to the incoming management team and do everything we can to support them for the next 4 months to ensure a smooth transition," they added. Chapman said that she and other founders remain shareholders in ZestMoney. The founder's decision came after a potential deal to acquire ZestMoney by leading fintech company PhonePe fell through recently. ZestMoney was valued at $445 million last year and has raised over $130 million from a range of investors, like <keyword id="2126501" type="General" weightage="50" keywordseo="ribbit-capital" source="Orion">Ribbit Capital</keyword>, Omidyar Network, PayU, Xiaomi and Alteria Capital, among others. Last month, Bengaluru-based ZestMoney laid off about 20 per cent of its workforce, which impacted nearly 100 employees. The company last year had a network of merchants with more than 10,000 online partners and 75,000 physical stores. It reported a registered user base of 17 million and was live at 85,000 retail touch-points across the country. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/how-to-track-and-block-your-lost-smartphones-using-the-sanchar-saathi-portal/articleshow/100242116.cms">How to track and block your lost smartphones using the Sanchar Saathi portal</a> <a href="https://www.businessinsider.in/tech/news/8-things-that-google-bard-can-do-but-chatgpt-cannot/articleshow/100187360.cms">8 things that Google Bard can do, but ChatGPT cannot</a> <a href="https://www.businessinsider.in/tech/apps/news/how-to-silence-fake-calls-from-unknown-numbers-on-whatsapp/articleshow/100186824.cms">How to silence calls from unknown numbers on WhatsApp</a>

ZestMoney founders quit as fintech startup fails to raise capital

<ul><li>Premji Foundation, <keyword id="6364080" type="PERSON" weightage="20" keywordseo="binny-bansal">Binny Bansal</keyword> along with SIDBI have led an investment of ₹960 crore in venture debt fund <keyword id="4844054" type="PERSON" weightage="20" keywordseo="Alteria-Capital">Alteria Capital</keyword>. </li><li>This makes Alteria Capital the largest venture debt fund in India. </li><li>Alteria invested in <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">startups</keyword> like Dunzo, Vogo, Stanza Living, toppr among others.</li></ul>Former Wipro Chairman <keyword id="6419840" type="UNKNOWN" weightage="20" keywordseo="Azim-Premji">Azim Premji</keyword>’s Premji Foundation, Flipkart co-founder Binny Bansal along with SIDBI,invested ₹960 crore in the venture debt fund, <a href="https://timesofindia.indiatimes.com/business/india-business/premjis-ngo-bansal-put-rs-960cr-in-venture-debt-co/articleshow/70424468.cms">Alteria Capital</a>. This investment has made Alteria Capital the biggest venture debt fund in the country. According to reports, it is also SIDBI’s single largest investment, as the government nodal agency pumped in as much as ₹160 crore. Alteria Capital was founded by Ajay Hattangdi and Vinod Murali who had earlier led Innoven Capital. The firm has so far invested in hyperlocal delivery startup Dunzo, electric bike startup Vogo, student accommodation startup Stanza Living among others. The firm also placed its bets on cricketer Virat Kohli’s apparel brand Wrogn. Meanwhile, ace entrepreneur and investor Binny Bansal has been on an investment spree. In July, he invested in fashion designer Masaba Gupta’s brand. In June, Bansal sold some of his shares in Flipkart for $76.4 million, according to filings sourced by paper.vc. That leaves him with a residual share of 3.52% in the company he co-founded. He made personal investments too, like in insurtech startup Acko and legal startup Spotdraft amongst others. Interestingly, earlier Bansal for his own fund had raised money from his co-investor in the round for Alteria Capital – Premji Foundation. Bansal formed 021 Capital with his financial adviser Sailesh Tulshan for which he had raised $32 million from Premji Foundation and a few former Flipkart colleagues.

Azim Premji, Binny Bansal join government’s startup fund to invest in Alteria Capital

As edtech startups and unicorns lay off employees amid the funding winter, Gurugram-based higher <keyword id="6355445" type="General" weightage="80" keywordseo="education" source="Orion">education</keyword> platform <keyword id="4342812" type="General" weightage="100" keywordseo="sunstone" source="Orion">Sunstone</keyword> on Friday said it has raised $35 million (around Rs 280 crore) in a Series C funding led by <keyword id="678811" type="General" weightage="80" keywordseo="westbridge-capital" source="Orion">WestBridge Capital</keyword>. Founded by Ashish Munjal and Piyush Nangru in 2019, Sunstone had raised $28 million in October 2021. The startup said it will use the latest funding to expand into new programmes with a key focus on undergraduate tech programmes. "The Indian higher education system is at the brink of a long overdue transformation. Sunstone is well positioned to enable this change and impact the lives of millions of students," said Munjal, Co-founder and CEO. The latest funding round also saw participation from Alteria Capital. The company with presence across over 35 cities in more than 40 institutions is building capacities to expand into 100 cities across the country. Starting with post graduate management education, Sunstone ventured into undergraduate programs in 2022, registering a 10 times growth in the past two years. "Seeing the ever increasing demand and its potential to be a major disruptor, we are excited to double down our investment to support its (Sunstone's) mission of transforming the higher education sector in India," said Sandeep Singhal, Managing Partner, WestBridge Capital. Sunstone said its training programmes are industry endorsed to enhance employability, designed for hybrid delivery with focus on soft skills and personality development. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/news/indias-first-electric-double-decker-bus-launched-in-mumbai-to-foster-sustainability-in-transport-sector/articleshow/93654255.cms">India’s first electric double-decker bus launched in Mumbai; to foster sustainability in Transport Sector</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/news/why-the-melting-of-the-arctic-ice-matters-to-india/articleshow/93655791.cms">Why the melting of the Arctic ice matters to India?</a>

Edtech startup Sunstone raises $35 mn in funding round led by WestBridge Capital

Financial services company <keyword id="7349800" type="UNKNOWN" weightage="20" keywordseo="bharatpe">BharatPe</keyword> on Monday said it has raised ₹50 crore in debt from <keyword id="6254083" type="UNKNOWN" weightage="20" keywordseo="Northern-Arc-Capital">Northern Arc Capital</keyword>, one of the leading digital debt finance platforms. This is the sixth round of debt financing in 2021, the company said. In January, the company had raised ₹200 crore from three top debt companies in the country -- Alteria Capital, <keyword id="2809652" type="COMPANY" weightage="20" keywordseo="InnoVen-Capital">InnoVen Capital</keyword> and <keyword id="2694863" type="COMPANY" weightage="20" keywordseo="Trifecta-Capital">Trifecta Capital</keyword>, having later raised additional capital from <keyword id="6653" type="COMPANY" weightage="20" keywordseo="ICICI-bank">ICICI Bank</keyword> and <keyword id="6355975" type="COMPANY" weightage="20" keywordseo="axis-bank">Axis Bank</keyword>. "We have considerably ramped up our lending business in the last year and have set an ambitious target of facilitating disbursals to the tune of $1 billion to more than 10 lakh merchants by the end of current fiscal (FY22)," said Suhail Sameer, Group President, BharatPe. "We are excited about our latest capital raise from Northern Arc and are confident that, together, we will be able to transform Bharat and serve the needs of the underserved businesses in India," he added. The fintech company has already facilitated disbursals of over ₹1,600 crore to more than 2 lakh merchants since the launch of the lending vertical. "Northern Arc has continually worked towards extending credit to like-minded organisations such as BharatPe that enable financial access to small businesses and merchants across the country," said Bama Balakrishnan, <keyword id="6423421" type="COMPANY" weightage="20" keywordseo="coo">COO</keyword>, Northern Arc. Northern Arc has directly disbursed more than ₹3,500 crore over the last financial year to MSMEs, households, financial institutions and mid-market corporates. SEE ALSO: <a href="https://www.businessinsider.in/business/news/this-ev-startup-mobycy-went-from-solving-last-mile-commute-to-delivery/articleshow/82513392.cms">It took one pivot and five years for this EV startup founder to hit the sweet spot for business in India</a> <a href="https://www.businessinsider.in/tech/apps/news/clubhouse-android-download-release-date-beta-version/articleshow/82515109.cms">Clubhouse for Android finally launched as downloads and hype take a plunge</a> <a href="https://www.businessinsider.in/finance/banks/news/bandhan-bank-share-price-falls-after-reporting-an-80-fall-in-its-net-profit/articleshow/82516642.cms">Bandhan Bank falls 4% after reporting an 80% fall in its net profit – positive market trends help it bounce back into the green</a>

SME lending startup BharatPe raises ₹50 crore in debt from Northern Arc Capital

EV startup Vidyut on Tuesday said it has raised $10 million in its Series A fundraise (a mix of equity and debt funding) led by 3one4 Capital, and will deploy new funds to scale its new offerings that include EV insurance, lifecycle management and EV resale. The round also witnessed participation from new and existing investors namely, Saison Capital, <keyword id="20657706" type="General" weightage="20" keywordseo="zephyr-peacock" source="keywords">Zephyr Peacock</keyword>, Force Ventures, a venture debt fund Alteria Capital and CEO of Udaan, <keyword id="20483955" type="General" weightage="20" keywordseo="sujeet-kumar" source="keywords">Sujeet Kumar</keyword>. Founded in 2021, the startup said it aims to expand its presence to 40 cities and will double its team size by the end of FY25 as it prepares to build a full stack EV ecosystem. "Our focus is not just on financing but on elevating the entire EV ownership journey for India's SMBs, who are the backbone of our economy," said <keyword id="20657704" type="General" weightage="20" keywordseo="gaurav-srivastava" source="keywords">Gaurav Srivastava</keyword>, co-founder of Vidyut. The company already offers ownership solutions for Mahindra, Piaggio, Altigreen, Murugappa Group's Montra Electric, Euler Motors and OSM vehicles. "Vidyut's model removes EV adoption barriers, especially in the large but price sensitive driver cum owner segment. At 3one4 Capital, we are excited to back the Vidyut team in their mission to simplify EV ownership," said <keyword id="20657703" type="General" weightage="20" keywordseo="sonal-saldanha" source="keywords">Sonal Saldanha</keyword>, Vice President, Investments, 3one4 Capital. "After hitting an inflection point, customised financing and lifecycle management solutions will play a central role in large scale EV adoption, requiring lenders to evaluate asset risk alongside borrower risk," added <keyword id="20657705" type="General" weightage="20" keywordseo="dhairen-tohliani" source="keywords">Dhairen Tohliani</keyword>, Vice President, Alteria capital. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8-pro-review/articleshow/107726935.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8-pro-review/articleshow/107726935.cms" target="_blank">Pixel 8 Pro review: ‘Okay Google’ – The flagship smartphone ticks almost all boxes</a><a href="https://www.businessinsider.in/tech/news/dell-xps-17-9730-review/articleshow/107330203.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/dell-xps-17-9730-review/articleshow/107330203.cms" target="_blank">Dell XPS 17 9730 review – Feature-packed laptop but at a premium</a><a href="https://www.businessinsider.in/tech/news/viewsonic-vx3219-2k-pro-review/articleshow/106729348.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/viewsonic-vx3219-2k-pro-review/articleshow/106729348.cms" target="_blank">ViewSonic VX3219 2K PRO gaming monitor – Reliable at an affordable price</a>

EV startup Vidyut raises $10 mn to build full-stack ecosystem

<ul><li><keyword id="42747" type="General" weightage="20" keywordseo="tata-motors" source="Orion">Tata Motors</keyword> will deliver 10,000 XPRES T EVs to BluSmart Electric Mobility.</li><li>The vehicle would be used across the country for commuters.</li><li>BluSmart had pr<keyword id="186291" type="General" weightage="20" keywordseo="ev" source="Orion">ev</keyword>iously ordered 3,500 XPRESS T EV in October last year.</li></ul>Automobile giant Tata Motors has bagged India’s biggest electric vehicle (EV) fleet order of 10,000 vehicles from BluSmart Electric Mobility. As a part of the agreement, Tata Motors will deliver 10,000 XPRES T EVs to this Deepika Padukone-backed all-electric cab service company. BluSmart Electric Mobility had previously ordered 3,500 XPRESS T EV in October last year and the current order is an addition to this. The vehicle — which was launched last July exclusively for fleet customers — would be used across the country for commuters. It packs a high energy density battery of 21.5 kilowatt-hour (kWh) and 16.5 kWh and can be charged from 0- 80% in 90 mins and 110 mins, respectively. “Our XPRES-T EV fleet offers an optimal battery size along with a captive fast charging solution and has already set benchmarks in its category. Tata Motors is constantly working towards educating and enhancing the adoption of electric mobility in India and we hope that more people join us in this journey as we mobilize the nation,” Shailesh Chandra, MD of Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility. Tata Motors — which manufactures TATA Nexon EV and Tata Tigor EV — claims to be leading the e-mobility wave in India with a commanding market share of 87%. It sold 25,000 EVs in the fiscal year 2022. BluSmart Electric Mobility was founded in 2019 by Anmol Jaggi, Puneet Singh Jaggi and Punit Goyal. The company has raised $67 million to date from marquee investors Alteria Capital, Stride Ventures and BlackSoil as investors. The three-year-old startup aised <a href="https://auto.economictimes.indiatimes.com/news/aftermarket/blusmart-raises-usd-50-million-in-extended-series-a-round-to-rapidly-scale-its-e-fleet/91758760">$50 million </a>last month to expand across Delhi NCR and other metro cities. The company claims to have covered 50 million clean kilometers and delivered over 1.6 million zero-emission rides. “We are building a large-scale integrated EV mobility ecosystem in India - from the country's largest fully-electric ride hailing service to the largest network of EV charging super hubs. With the increasing fleet size we are leading India on the path to reliable, sustainable and zero-emissions mobility and also creating more inclusive and economic opportunities for driver partners,” said Anmol Singh Jaggi, co-founder at BluSmart Electric Mobility. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/dmart-owner-radhakrishna-damani-loses-5-bn-as-even-essentials-become-too-expensive-for-indians/articleshow/92031475.cms">DMart owner Radhakrishna Damani loses $5 bn as even essentials become too expensive for Indians</a> <a href="https://www.businessinsider.in/business/corporates/news/indian-corporates-made-a-full-comeback-with-111-billion-profits-but-the-same-cant-be-said-for-2023/articleshow/92033485.cms">Indian corporates made a full comeback with $111 billion profits, but the same can’t be said for 2023</a> <a href="https://www.businessinsider.in/business/news/inox-leisure-pvr-has-high-hopes-from-its-future-but-its-mostly-based-on-good-movies/articleshow/91980544.cms">Brahmastra, Laal Singh Chaddha and Avatar — movies that can determine the fortunes of INOX and PVR</a>

You Searched For "alteria capital" and got 8 results

BharatPe gets $20 million in debt funding from Alteria Capital and ICICI Bank — aims to raise a total of $700 million in the next two years

IANS

Stanza Living raises Rs 40-cr from Alteria Capital

PTI

ZestMoney founders quit as fintech startup fails to raise capital

IANS

Azim Premji, Binny Bansal join government’s startup fund to invest in Alteria Capital

Sanchita Dash

Edtech startup Sunstone raises $35 mn in funding round led by WestBridge Capital

IANS

SME lending startup BharatPe raises ₹50 crore in debt from Northern Arc Capital

IANS

EV startup Vidyut raises $10 mn to build full-stack ecosystem

IANS

Tata Motors bags India’s biggest EV fleet order from cab company BluSmart

Kritti Bhalla

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