VC Fund Investments
Micro-lender SmartCoin raises $7-M from Lightbox, Pace Commodity Brokers, others
Bengaluru-based micro-lending startup SmartCoin has raised INR 52.05 crore (about USD 7 million), in a Series B round from new and existing investors including Lightbox. It has allotted 2,925 Series B CCPS at an issue price of INR 1,77,830.47 per share to raise INR 52.05 crore from Lightrock, Pace Commodity Brokers and India SME Investments. Lightrock and Pace commodity Brokers have invested INR 20 crore each while India SME Investments participated with INR 12 crore. SmartCoin had raised USD 7 million in a Series A round in March 2020 and around USD 11 million in debt last July. Following the allotment of fresh shares, Lightrock has become the largest stakeholder with 25.87%, followed by Unicorn India Ventures with 9.25% holding. Promoters of SmartCoin cumulatively hold 35.42% of the company.
From the Venture Intelligence PE-VC Deal Database: Between Feb-17 and Jul-21, SmartCoin raised $9.26 M from India SME Investments, Unicorn India Ventures, Lightrock India, Accion International, 01VC, and others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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