Existing investors Celesta Capital and 3 Lines VC also participated in this round, along with Trifecta Leaders Fund and Tony Xu, the Founder of Doordash
Fintech company Kissht on Thursday said it has raised Rs 100 crore in a funding round led by Trifecta Capital and Northern Arc. In the current round, Trifecta and Nothern Arc have each subscribed to Rs 50 crore of non-convertible debentures (NCDs), according to a statement. The company has so far raised over Rs 270 crore in equity and over Rs 1,200 crore in debt investments. The company said the funds will be utilised to expand its scale of operations. It will also further enhance its product offerings, including credit cards for small businesses/ shops and improve underwriting capabilities to extend credit to the new to credit (NTC) segment using AI and machine learning. The firm plans to expand its business to one crore borrowers in FY2023, the statement said. It is projecting an overall revenue of over Rs 500 crore, it said. The company provides an instant line of credit for small business transactions and small-ticket size personal loans to new credit customers.
The company has so far raised over Rs 270 crore in equity and over 1,200 crore in debt investments.
Trifecta Capital has committed Rs 3,500 crore in venture debt and equity investments across more than 85 start-ups till date
In a Q&A, the managing partner of the venture debt firm dwells on the returns generated by the company's earlier funds, among other things
Trifecta Capital on Wednesday said it has invested Rs 400 crore (about USD 53 million) across four companies
The fund aims to serve the rapidly growing financing opportunities for Indian start-ups
Existing investors of Trifecta Capital's venture debt funds have also made significant investments in this fund
Trifecta Capital is planning a Rs 1,500 crore-late stage venture capital fund that will invest in new economy companies that are likely to pursue an initial public offering in the medium term
The fund currently has nine unicorns in portfolio such as BigBasket, Urban Company Cars24, Rivigo
The venture debt fund launched in 2014 has so far invested in 72 companies, including nine unicorns, such as BigBasket, Rivigo, Cars24, and Urban Company
Trifecta Capital is a venture debt firm
Most start-ups are also not expecting to get the right valuation at this time, as the lockdown imposed to curb the virus' spread has severely disrupted business
Trifecta Capital will raise more capital than it had targeted for its maiden fund: Rahul Khanna