KreditBee’s NBFC arm posts Rs 200 Cr profit in FY24 KreditBee's NBFC arm, Krazybee, saw substantial growth in FY24, nearly doubling revenue and tripling profit. Krazybee's revenue surged to Rs 1,399 crore from Rs 717 crore in FY23, driven by a 2.5X increase in interest income and Rs 169 crore from fees. Total expenses rose 80% to Rs 1,132 crore, with significant jumps in loan amortization and employee costs. Despite rising expenses, controlled expenditure helped Krazybee triple its profit to Rs 200 crore. Its ROCE improved to 10.5%, with an EBITDA margin of 36%. KreditBee, valued at $700 million, plans to shift its domicile to India, potentially paving the way for an IPO. The company has raised $410 million from key investors like Premji Invest and Newquest Capital. #Entrackr #Fintrackr #Startup #StartupNews #IndianStartup #Krazybee #KreditBee #NBFC #RevenueGrowth #ProfitGrowth #FinancialGrowth #FintechIndia #StartupFunding #IndianStartups #FintechNews #BusinessGrowth #IndiaEconomicNews https://entrackr.com/2024/09/exclusive-kreditbees-nbfc-arm-posts-rs-200-cr-profit-in-fy24/

After Big B’s family office, Hindustan Composites invests in Swiggy Auto ancillary firm Hindustan Composite has acquired a minority stake in Swiggy, investing Rs 5.17 crore for 1,50,000 equity shares. This investment follows Amitabh Bachchan’s family office’s recent minority stake acquisition in Swiggy. Hindustan Composite plans to complete the transaction by November 30, 2024. Swiggy, with a net worth of Rs 9,810 crore as of March 2023, aims to raise up to Rs 3,750 crore through its IPO, alongside an offer for sale of up to Rs 6,664 crore. The company, which filed IPO papers confidentially in May, also introduced a $65 million ESOP liquidity program in July. Swiggy's revenue for FY24's first three quarters was Rs 5,476 crore, with a Rs 1,600 crore loss. #Entrackr #Fintrackr #News #Startup #StartupNews #IndianStartup #HindustanComposite #SwiggyAcquisition #SwiggyIPO #InvestmentNews #StartupInvestments #TechInvestments #BengaluruStartups https://entrackr.com/2024/09/after-big-bs-family-office-hindustan-composites-invests-in-swiggy/

Livpure raises $28 Mn from M&G Investments and Ncubate Capital Livpure, a manufacturer of water purifiers and air conditioners, has raised Rs 208 crore ($25 million) from M&G Investments and Rs 25 crore ($3 million) from Ncubate Capital Partners. The funds will be used to expand categories, develop products, and enhance market presence. Founded in 2012 by Rakesh Malhotra and Navneet Kapoor, Livpure offers a range of products including water purifiers, air coolers, and kitchen appliances. The company, with over $80 million raised to date, competes with DrinkPrime and traditional players like Eureka Forbes. In FY23, Livpure saw a 35% growth in revenue to Rs 294 crore, with water purifiers contributing over 80% of sales. The company reported a 45% growth in Q1 FY25. #Entrackr #Fintrackr #Startup #StartupNews #IndianStartup #Livpure #StartupFunding #WaterPurifiers #HomeAppliances #ProductDevelopment #VentureCapital #BusinessGrowth #HomeImprovement #Innovation #TechInvestment #AirConditioners https://entrackr.com/2024/08/livpure-raises-28-mn-from-mg-investments-and-ncubate-capital/

Ixigo raises Rs 333 Cr from anchor investors ahead of IPO Le Travenues Technology Limited, the parent company of Ixigo, offered shares worth Rs 333 crore ($40 million) to anchor investors for its IPO. Ixigo's board approved issuing 3,58,11,405 shares at Rs 93 each. Key investors include SBI, HDFC, Morgan Stanley, and others. Ixigo’s IPO runs from June 10-12, 2024, with a price band of Rs 88-93. The company reported Rs 491 crore revenue and Rs 65.7 crore profit in FY24. #Entrackr #Fintrackr #News #Startup #StartupNews #IxigoIPO #TravelTech #AnchorInvestment #LeTravenuesTech #IPO2024 #StartupFunding #StockMarket #IndiaStartups #TataInvestments #TechInvestments https://entrackr.com/2024/06/ixigo-raises-rs-333-cr-from-anchor-investors-ahead-of-ipo/

Gupshup India posts Rs 1,619 Cr income and Rs 49 Cr profit in FY23 Gupshup, a profitable unicorn, reported a 43% increase in India revenue to Rs 1,619 crore in FY23. Despite overseas market earnings not included, the company's financials are robust. Gupshup, backed by Tiger Global, offers a messaging API for platforms like WhatsApp. Its FY23 expenditure rose, with business solution provider fees accounting for 69%. However, optimized cost management led to a 22.5% profit increase to Rs 49 crore. Gupshup, despite Fidelity's valuation markdown, appears well-positioned for growth with diverse offerings and market insights. #Fintrackr #Entrackr #Gupshup #News #Startups #StartupNews #IndianStartups https://entrackr.com/2024/01/gupshup-india-posts-rs-1619-cr-income-and-rs-49-cr-profit-in-fy23/

Biryani By Kilo raises $9 Mn in a new round Cloud kitchen company Biryani By Kilo [BBK] has raised $9 million or Rs 72 crore in its Series C round led by Alpha Wave Ventures. The latest equity round has come after a hiatus of more than two years for the company. The board at Biryani By Kilo has passed a special resolution to issue 18,086 Series C CCSP at an issue price of Rs 39,800 per share to raise Rs 72 crore or $9 million, regulatory filing sourced from the Registrar of Companies shows. #Entrackr #Fintrackr #BiryaniByKilo #Startups #IndianStartup #News #StartupNews #Exclusive https://entrackr.com/2023/12/exclusive-biryani-by-kilo-raises-9-mn-in-a-new-round/

Wishlink to raise $7 Mn led by Fundmentum and Elevation Creator-led commerce startup Wishlink is in advanced stage of raising $7 million in a new round, sources aware of the development told Entrackr. The new fundraise for the Bengaluru-based company will come after 13-14 months. “Fundamentum is leading the new round along with participation of existing backer Elevation Capital,” said one of the sources requesting anonymity. The terms of the deal have been sealed and money is likely to come in soon.” Elevation led a $3 million seed round in the Wishlink in October last year. Several high profile angels including Vidit Aatrey, Sanjeev Barnwal, Rahul Chaudhary, Ankush Sachdeva, and Ghazal Alagh, also participated in its maiden funding round. Founded by Chandan Yadav, Shaurya Gupta and Divyansh Ameta, Wishlink is enabling creators across social media platforms to drive commerce for brands via their personalized multi-brand storefronts. The platform has created a tech stack to drive creators from social media to brands’ websites, helping them acquire customers. #Entrackr #Fintrackr #News #Startups #StartupNews #Wishlink https://entrackr.com/2023/11/exclusive-wishlink-to-raise-7-mn-led-by-fundmentum-and-elevation/