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Entrepreneur
3 days ago
- Business
- Entrepreneur
From Fashion to Fintech: Top Startup Fundings This Week (May 24–30)
Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. India's startup ecosystem witnessed a flurry of activity this week with significant investments pouring into diverse sectors ranging from retail fashion and fintech to logistics, agri-finance, and hyperlocal services. The startups featured this week not only captured investor interest but also reflect the country's evolving digital and consumer landscapes. Here's a roundup of the most notable funding deals from May 24 to May 30. Citykart Founded in December 2015 by Sudhanshu Agarwal, Citykart is based out of Gurugram. The startup focuses on serving the fashion needs of tier-II and tier-III cities by offering affordable and trend-forward clothing for men, women, and children. Apart from apparel, they also provide footwear, accessories, home furnishings, and general merchandise. Citykart has carved a niche for itself in the value retail fashion space by delivering an inspirational shopping experience at accessible price points. Funding Amount: USD 63 Million Investors: TPG NewQuest, A91 Partners Saarathi Finance Saarathi Finance, headquartered in Mumbai, was founded in 2024 by Vivek Bansal and Sunil Daga. The startup provides secured and unsecured business loans tailored for micro and nano businesses, particularly in semi-urban and rural areas. With operations spanning across Tamil Nadu, Telangana, Andhra Pradesh, Karnataka, Rajasthan, and Uttar Pradesh, Saarathi uses flexible income assessments and quick turnaround times to bridge credit gaps in underserved markets. Funding Amount: USD 57 Million Investors: TVS Capital Funds, Lok Capital, Evolvence Equity Partners, Paragon Partners, and prominent angel investors Snabbit Founded in 2024 by Aayush Agarwal, Snabbit is a Mumbai-based quick-service home assistance app. It provides on-demand services such as dishwashing, cleaning, laundry, and kitchen prep. Users can book trained professionals who arrive within 10–15 minutes. The app aims to redefine convenience in urban households by delivering skilled, hourly services with high responsiveness. Funding Amount: USD 19 Million Investors: Lightspeed, Elevation Capital, Nexus Venture Partners Fleetx Fleetx, a Gurugram-based logistics tech platform, was established in 2017 by Vineet Sharma, Abhay Jeet Gupta, Udbhav Rai, Parveen Kataria, and Vishal Misra. It uses AI to optimise fleet and logistics operations. The platform offers a suite of solutions including fleet management, fuel analytics, video telematics, and transportation management systems, enabling logistics companies to enhance efficiency and reduce operational costs. Funding Amount: USD 13.2 Million Investors: IndiaMART Intermesh, BEENEXT's Accelerate Fund Samunnati Founded in 2014 by Anil Kumar SG, Samunnati is headquartered in Chennai. It offers customised financial and market linkage solutions to stakeholders in the agricultural value chain. From farmer producer organisations to agri-SMEs, the company bridges critical gaps in rural credit access and farm productivity. Samunnati's offerings include agri-loans, advisory support, and market connectivity, empowering India's agri ecosystem. Funding Amount: USD 5 Million Investors: Agri-Biz Capital Delaware LLC EUME EUME, established in 2018 by Naina Parekh and Pranay Parekh, operates out of Mumbai. Specialising in stylish and functional travel gear, EUME offers a wide product line including backpacks, luggage, and vegan handbags. The brand has gained popularity for its modern designs and sustainability focus, catering to a growing demand for travel-friendly, eco-conscious accessories. Funding Amount: USD 3 Million Investors: Ashish Kacholia, Pradeep Rathod of Cello Group, Prithviraj Kothari of Arvog Financial This week's funding spree underscores investor confidence in startups solving real-world problems with scalable models across India's vast consumer, business, and rural landscapes.
Entrepreneur
6 days ago
- Business
- Entrepreneur
Saarathi Finance Raises INR 475 Cr to Empower Bharat's Micro and Nano Entrepreneurs
The round was led by marquee investors including TVS Capital Funds, Lok Capital, Evolvence Equity Partners, Paragon Partners, and prominent angel investors, who together contributed INR 350 crores. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Saarathi Finance, a Greenfield NBFC founded in 2024 by Vivek Bansal (Founder and CEO) and Sunil Daga (Co-founder), has raised INR 475 crores in equity capital to support micro and nano businesses across India's underserved regions. The round was led by marquee investors including TVS Capital Funds, Lok Capital, Evolvence Equity Partners, Paragon Partners, and prominent angel investors, who together contributed INR 350 crores. The remaining infusion came from the founders themselves, underscoring their deep conviction and commitment. The funding round values Saarathi Finance at over INR 900 crores. Headquartered in Mumbai, Saarathi Finance is on a mission to bridge the vast INR 44 lakh crore credit gap in the MSME sector, focusing particularly on semi-urban and rural regions of Tamil Nadu, Telangana, Andhra Pradesh, Karnataka, Rajasthan, and Uttar Pradesh. The raised capital will be deployed to expand Saarathi's footprint, scale its tech-enabled lending platform, and build a high-quality secured and unsecured loan book tailored to MSMEs. Saarathi aims to provide flexible, fast, and personalized credit solutions, combining data-driven insights with a local understanding of its customers. Vivek Bansal shared, "We are committed to empowering Bharat's entrepreneurs by providing more than just credit – a partnership that values and supports their growth. This funding milestone enables us to accelerate our mission, ensuring every stakeholder, from entrepreneurs to investors, is valued and cared for in our journey." Saarathi's core offering includes secured and unsecured business loans, with a strong emphasis on flexible income assessment and rapid processing. By leveraging technology and deep customer engagement, Saarathi's philosophy—"Aap Akele Nahi Hai" (You are not alone)—is central to its promise of inclusive growth. Backing the vision, Gopal Srinivasan of TVS Capital Funds stated, "Saarathi Finance embodies the spirit of inclusive growth… crucial to India's journey towards a USD 10 trillion economy." With an experienced founding team and the confidence of seasoned investors, Saarathi Finance is poised to transform the credit landscape for India's grassroots entrepreneurs.
Economic Times
6 days ago
- Business
- Economic Times
Saarathi Finance, secures Rs 475 crores equity capital to enable formal credit to micro and nano businesses
Saarathi Finance, a newly licensed Greenfield Non-Banking Financial Company (NBFC) dedicated to empowering India's micro, small, and medium enterprises (MSMEs), has announced the successful closure of its inaugural funding round, raising a total of Rs 475 crores. The capital infusion will support Saarathi's mission to bridge the significant credit gap faced by MSMEs, particularly in underserved semi-urban and rural regions across Tamil Nadu, Telangana, Andhra Pradesh, Karnataka, Rajasthan, and Uttar Pradesh, underpinning the theme of inclusive growth for Bharat. ADVERTISEMENT The funding round was led by prominent investors, including TVS Capital Funds, Lok Capital, Evolvence Equity Partners, Paragon Partners, and prominent angels collectively contributing about Rs 350 crores. Vivek Bansal, Founder and CEO, and Sunil Daga, Co-Founder, infused balance amount underscoring their commitment to the venture. The Series A investment values Saarathi Finance at over Rs 900 crores. 'We are committed to empowering Bharat's entrepreneurs by providing more than just credit – a partnership that values and supports their growth. This funding milestone enables us to accelerate our mission, ensuring every stakeholder, from entrepreneurs to investors, is valued and cared for in our journey. With heartfelt gratitude to our stakeholders, friends, and family, we embark on this exciting journey,' said Vivek Bansal, Founder and CEO, Saarathi Finance, in a statement. According to Gopal Srinivasan, Chairman and Managing Director, 'Saarathi Finance embodies the spirit of inclusive growth that aligns with our vision of supporting micro and nano businesses crucial to India's journey towards a $10 trillion economy. Their focus on MSMEs in underserved regions resonates with our commitment to empowering next-generation entrepreneurs who are the backbone of India's economic development.''We have been a part of the evolving secured micro- enterprise lending space for over a decade now, and see innovation and capital emerging as serious moats. We are excited to partner with Saarathi as the next generation of market leaders in this space,' said Rajat Bansal, Managing Director, Lok Finance's approach combines technology-driven solutions with personalized customer engagement, offering both secured and unsecured loans tailored to the unique needs of MSMEs. The company's emphasis on flexible income assessment and rapid loan processing aims to make credit more accessible to entrepreneurs who have traditionally been overlooked by formal financial institutions. ADVERTISEMENT 'We are strong believers in Saarathi's mission to bridge the large credit gap for underbanked MSMEs in India. With an exceptional founding team and the right capital support, Saarathi is well positioned to build a high-quality, enduring lending franchise. We're excited to partner with them on this journey,' Abhishek Chandra, Partner, Evolvence Equity Partners said.'We are thrilled to partner with Saarathi Finance at the very start of their journey, as they address the significant unmet demand for credit among India's MSMEs. With Vivek Bansal's proven leadership at InCred and Sunil Daga's deep experience in secured lending at Kotak Bank, Saarathi has built a high-calibre team poised to drive financial inclusion. We are bullish on the MSME secured LAP segment and believe Saarathi is uniquely positioned to unlock its vast potential in India,' said Siddharth Parekh, Senior Partner and Co-Founder, Paragon Partners. ADVERTISEMENT
Time of India
6 days ago
- Business
- Time of India
Saarathi Finance, secures Rs 475 crores equity capital to enable formal credit to micro and nano businesses
Saarathi Finance , a newly licensed Greenfield Non-Banking Financial Company (NBFC) dedicated to empowering India's micro, small, and medium enterprises (MSMEs), has announced the successful closure of its inaugural funding round, raising a total of Rs 475 crores. The capital infusion will support Saarathi's mission to bridge the significant credit gap faced by MSMEs, particularly in underserved semi-urban and rural regions across Tamil Nadu, Telangana, Andhra Pradesh, Karnataka, Rajasthan, and Uttar Pradesh, underpinning the theme of inclusive growth for Bharat. The funding round was led by prominent investors, including TVS Capital Funds, Lok Capital , Evolvence Equity Partners, Paragon Partners, and prominent angels collectively contributing about Rs 350 crores. Vivek Bansal, Founder and CEO, and Sunil Daga , Co-Founder, infused balance amount underscoring their commitment to the venture. The Series A investment values Saarathi Finance at over Rs 900 crores. 'We are committed to empowering Bharat's entrepreneurs by providing more than just credit – a partnership that values and supports their growth. This funding milestone enables us to accelerate our mission, ensuring every stakeholder, from entrepreneurs to investors, is valued and cared for in our journey. With heartfelt gratitude to our stakeholders, friends, and family, we embark on this exciting journey,' said Vivek Bansal, Founder and CEO, Saarathi Finance, in a statement. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Buy Brass Idols - Handmade Brass Statues for Home & Gifting Luxeartisanship Buy Now Undo According to Gopal Srinivasan, Chairman and Managing Director, 'Saarathi Finance embodies the spirit of inclusive growth that aligns with our vision of supporting micro and nano businesses crucial to India's journey towards a $10 trillion economy. Their focus on MSMEs in underserved regions resonates with our commitment to empowering next-generation entrepreneurs who are the backbone of India's economic development.' 'We have been a part of the evolving secured micro- enterprise lending space for over a decade now, and see innovation and capital emerging as serious moats. We are excited to partner with Saarathi as the next generation of market leaders in this space,' said Rajat Bansal, Managing Director, Lok Capital. Live Events Saarathi Finance's approach combines technology-driven solutions with personalized customer engagement, offering both secured and unsecured loans tailored to the unique needs of MSMEs. The company's emphasis on flexible income assessment and rapid loan processing aims to make credit more accessible to entrepreneurs who have traditionally been overlooked by formal financial institutions. 'We are strong believers in Saarathi's mission to bridge the large credit gap for underbanked MSMEs in India. With an exceptional founding team and the right capital support, Saarathi is well positioned to build a high-quality, enduring lending franchise. We're excited to partner with them on this journey,' Abhishek Chandra, Partner, Evolvence Equity Partners said. 'We are thrilled to partner with Saarathi Finance at the very start of their journey, as they address the significant unmet demand for credit among India's MSMEs. With Vivek Bansal's proven leadership at InCred and Sunil Daga's deep experience in secured lending at Kotak Bank, Saarathi has built a high-calibre team poised to drive financial inclusion. We are bullish on the MSME secured LAP segment and believe Saarathi is uniquely positioned to unlock its vast potential in India,' said Siddharth Parekh, Senior Partner and Co-Founder, Paragon Partners.
