StrideOne raises Rs 250 crore in round led by Elevar Equity - Times of India
Summary
CHENNAI: StrideOne , a tech-enabled financial services platform for startups from founders of Stride Ventures , has raised Rs 250 crore via a mix of equity (led by Elevar Equity ) and debt (from top Indian banks).The company focuses on providing customized financial solutions to MSMEs and supply chain partners of startups. This model provides access to intelligently customized growth capital for MSMEs and also enables penetration into untapped borrower segments for StrideOnes lending partners.StrideOne says it is now profitable within just six months of operations and has accumulated an AUM of Rs 200 crore across more than 20 anchor companies.Some examples of the customised credit structures StrideOne has already delivered include a financing programme that helped the supply chain of a logistics tech startup, facilitating personal credit to their transport drivers with digital onboarding.For a B2B silk supply business, StrideOne created a credit structure where it paid the company upfront and helped its weavers/reelers/farmers with seamless credit resulting in business volumes for the company.
Funding
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