VC Fund Investments
Gold loan platform Oro Money raises Rs.36-Cr from 021 Capital, others
Chennai-based gold loan platform Oro Money has raised Rs 36 crore in a Series A round. 021 Capital Scheme led the round with INR 22 crore whereas Premji Invest has put in INR 12 crore. Yash Amit Nanavati and Rathna Girish Mathrubootham have invested INR 1 crore and INR 50 lakh, respectively. Oro Money provides gold loans at an annual interest rate of 9.48%. Currently, it's operational in Chennai, Bengaluru and Hyderabad. Following the investment, 021 Capital has picked up a 10.37% stake in Oro while Premji Invest owns 5.66%. The company's co-founders Parth Shah, Sreekesh Krishnan and Rakesh Mani own 15.15% each. Caratlane's CEO Mithun Sancheti and Siddhar Sancheti of Jaipur Gems hold 13.67% each.
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