Uni,a fintech startup offering pay-later solutions through its cards, has raised INR 50 crore in debt funding round from Stride Ventures, a leading venture debt firm.
Uni was founded in June 2021 by Nitin Gupta, Co-founder of PayU and former CEO of Ola Financial Services and Prateek Jindal, who built Ola Money Postpaid, and Laxmikant Vyas, It offers 'Pay Later' loan through Uni Card, which users can swipe at POS terminals.
The company is currently present in more than 130 cities across India including all major cities like Delhi, Mumbai, Hyderabad, Bengaluru, Pune, Chennai, Kolkata, Ahmedabad, Lucknow, and Jaipur.
“At Uni, we aim to provide customised solutions to different consumer segments. With the Pay 1/3rd card we are addressing the need for flexibility while providing a rich customer experience that is cut above the rest. While there is no dearth of demand for credit products in India, matching the right customer profile with the right product is very important to build a sustainable business. With a deep understanding of credit risk we have ensured the right fundamentals are baked into each of our products. The debt round from Stride Ventures is a vote of confidence that the market has in us and our business model”, said, Nitin Gupta, Founder and CEO, Uni.
“We are delighted to partner with Uni on their mission to change the way people interact with credit. Nitin and the team working behind Uni have a deep understanding of the fintech ecosystem which they have utilised to create a well differentiated and highly flexible credit solutions product in the form of the Pay 1/3rd card. We at Stride Ventures are thrilled to support the founders and are confident that through their rich financial services experience they will continue to bring forth well thought-out product strategies by using pioneering technology”, said, Ishpreet Singh Gandhi, Founder & Managing Partner – Stride Ventures.
Stride Ventures claims to have a portfolio of over Rs 1,600 crore in over 65 companies across Consumer, Fintech, Logistics, Agritech, B2B Commerce, Healthtech, B2B SaaS, Mobility and Energy Solutions (EVs).
In December 2021, Uni had raised $70 million in one of the largest series A funding rounds in India. The funding round led by General Catalyst with participation from Eight Roads Ventures, Elevation Capital and Arbor Ventures.
About Uni
Uni Cards is a new-age fintech company with a mission to change the way people interact with credit. By reimagining the existing credit products and delivering an unmatched credit experience to millions of Indians, Uni is disrupting how the traditional credit card products work.
Weekly Startup Funding News Report For 25 October - 29 October 2024 (Latest Updates)
Weekly Funding Roundup - We compile a Weekly Startups Funding News Report summarizing all the startups that secured funding during the week. This report provides a consolidated list of newly funded ventures daywise.
Weekly Funding Roundup - We compile a weekly startups funding news report summarizing all the startups that secured funding during the week. This report provides a consolidated list of these newly funded ventures day-wise, offering a concise overview of the latest developments in the startup funding landscape. Get allIndian statups news at Viestoires.
Weekly Startups Funding News [25 October 2024 - 29 October 2024]
Althion Funding News - Althion has Secured Rs 3.6 crore in Pre-Series A Round Funding
Trisu Funding News - A pre-seed funding round, which was co-led by All In Capital, has secured an undisclosed quantity of investment for the vermeil jewelry brand Trisu.
GameEon Funding News - GameEon, a game development studio, has raised $1 million in its most recent funding round, which was co-led by SucSEED Indovation Fund, ICE VC, IAN, CD EQUIFINANCE, Nexus Global Opportunities Fund, Vivek Goel, Patni Family, Tal64.
Wundrsight Funding News - Wundrsight, a digital therapeutics startup, has secured $400K in its seed round, which was led by Inflection Point Ventures. Social Alpha, in conjunction with other angel investors, has also participated in the round.
Dharaksha Ecosolutions Funding News - Dharaksha Ecosolutions, a biotech-driven R&D start-up, has secured Rs 24.8 crore (approximately $2.95 million) in a Seed funding round sponsored by Avaana Capital.
Omnivore Funding News - Omnivore’s third fund, the Omnivore Agritech and Climate Sustainability Fund, received $5 million in investment from Proparco, a subsidiary of the Agence Française de Développement (AFD) Group.
Futwork Funding News - In its Series A round, which was led by the Michael & Susan Dell Foundation and included Artha Ventures, Simile Capital, and other investors, sales outreach platform Futwork has raised Rs 20.9 crore, about $2.5 million.
Centricity Funding News - In a seed round, Lightspeed and returning investors Burman Family Office and Shantanu Agarwal, among others, led the investment in wealth management startup Centricity, which raised $20 million at a valuation of $125 million.
11 September 2024 - Funding News
Zivy Funding News - Zivy, an AI tool that prioritizes workplace messages and duties, has secured $1.2 million in a pre-seed funding round co-led by Blume Ventures, Paradigm Shift Capital, iSeed, Everywhere Ventures, Indian Silicon Valley, and Marsshot Ventures.
Mitra Funding News - A strategic family office based in Dubai and Bestvantage Investments led the Pre-Series A fundraising round for D2C FMCG firm Mitra, which raised INR 11 Cr ($1.3 Mn).
InMobi Funding News - MARS Growth Capital, a joint venture between MUFG and Liquidity Group, has provided $100 million in debt financing to InMobi, a provider of mobile advertising network software.
Track3D Funding News - Track3D, an AI reality intelligence platform for the construction industry, announced that it had secured $4.3 million in seed funding. The funding was led by Endiya Partners, with participation from Shadow Ventures and Monta Vista Capital.
Flexiloans Funding News - In an equity funding round led by American not-for-profit fund Accion, US asset management firm Nuveen, and Nandan Nilekani-backed venture fund Fundamentum, Mumbai-based digital lending startup Flexiloans has secured Rs 290 crore (approximately $35 million).
10 September 2024 - Funding News
Crackle Technologies Funding News - Crackle Technologies, an adtech startup, has secured $1.7 million (approximately INR 14 crore) in a pre-seed funding round that was jointly headed by We Founder Circle and AC Ventures.
Nestasia Funding News - Nestasia, a lifestyle and home décor brand, secured $8.35 million in a new funding round from Susquehanna Asia VC, Stellaris Venture Partners, and angel investors.
Supersquad Funding News - Supersquad, a startup that specializes in creator monetization, has secured Rs 2.1 crore in a funding round that was spearheaded by WLDD. Nitin Rajput and Jivraj Singh Sachar, angel investors, also contributed to the round.
AppsForBharat Funding News - AppsForBharat, the parent company of the devotional app Sri Mandir, has secured $17.8 million in its Series B funding round, which was led by Fundamentum.
Arnya Real Estate Funding News - Arnya Realestates Fund Advisors, an alternative investment management firm, has successfully closed the first close of its Rs 1,000-crore maiden debt fund, raising Rs 375 crore.
9 September 2024 - Funding News
Transcell Biologics Funding News - Quantiphi and IAN Group, both of Boston, have invested an undisclosed sum in Transcell Biologics, a biotechnology company.
2 September 2024 Monday - Latest Funding News in India
Mintifi Funding News- Mintifi a B2B digital lending startup, is reportedly in discussions to secure $100 million in a new funding round.
Clean Electric Funding News - Clean Electric, an energy storage solutions startup, has secured Rs 48.5 crore (approximately $6 million) in funding from both new and existing investors.
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