PE-VC Fund Investments
Financial services platform WeRize raises Rs.64-Cr led by Sony Innovation Fund
Bengaluru- based financial services platform WeRize has raised INR 64 crore (about USD 6.9 million) in a debt round, led by Sony Innovation Fund. The round also saw participation from existing investor 3one4 Capital. The company would issue 10,150 non-convertible debentures (NCDs), each with a face value of INR 63,272.50, to raise the sum. Sony Innovation Fund contributed about INR 46 crore, while 3one4 Capital provided the rest.Founded by Vishal Chopra and Himanshu Gupta, WeRize operates as a full-stack financial services platform. It offers customised credit, insurance, and savings products to clients across more than 4,000 tier II to tier IV towns, using data insights for product development.The newly raised funds would be used to address working capital needs, cover capital expenditures, and facilitate the expansion of business operations.
Between Jan 2019 and Jun 2022, WeRize had attracted about USD 25 M from 3ONE4 Capital, British International Investment, Kalaari Capital, Orios VP, Picus Capital, Sony Innovation Fund, and others.For FY25, WeRize had reported about INR 112 Cr in Operating Income and about INR 3.84 Cr in PAT.
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