PE-VC Fund Investments
Fintech startup Credilio raises Rs.30-Cr led by Cornerstone Ventures; valuation jumps 2.7x
Mumbai-based Credilio has raised INR 30 crore (approximately USD 3.3 million) in a Series A funding round led by existing investor Cornerstone Ventures, with participation from Ashra Private Equity Fund. The company's board approved the allotment of 2,481 compulsorily convertible cumulative preference shares (CCCPS) at an issue price of INR 1,20,880 per share to raise the capital. Cornerstone Ventures invested INR 20 crore, while Ashra Private Equity Fund infused INR 10 crore.Founded in 2020 by Aditya Gupta, Sandeep Ghule, and Anand Kapadia, Credilio is a digital platform that connects financial advisors, lenders, and consumers to facilitate the distribution of credit cards and loan products.The company plans to use the new funds for growth, expansion, and general corporate purposes. Additional capital may be raised as the round progresses.
In Mar 2022, Credilio had attracted about USD 4 M from Cornerstone Venture Partners, Exfinity Fund, Others.For FY25, Credilio had reported about INR 80 Cr in Operating Income and about INR 19.35 Cr in Net Loss.
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