Small towns focused financial services startup WeRize raises $8-M from 3one4 Capital, others

Bengaluru-based, small-towns focused financial services provider WeRize has raised USD 8 million in a Series A round from 3one4 Capital, Picus Capital, Kalaari Capital, and Orios VP. Two-year old WeRize, started by former Lendingkart executives, develops and distributes a wide portfolio of customised credit, group insurance and savings products. With this round, the total funding raised by WeRize stands at USD 10.25 million. The fresh proceeds will be used to ramp up investments in technology, data science and product development. The company claims to be on target to become EBITDA positive by early 2022. It has witnessed a 10-fold year-on-year growth in its revenues.