Monday, December 11, 2023
HomeInsightFunding Alert StrideOne raises Rs 250 cr led by Elevar Equity

[Funding alert] StrideOne raises Rs 250 cr led by Elevar Equity

[Funding alert] StrideOne raises Rs 250 cr led by Elevar Equity

StrideOne, a financial services platform for Startups has raised Rs 250 crore in a mix of equity round led by Elevar Equity, and debt round from banks.

The Gurugram based StrideOne was launched by venture debt fund Stride Ventures ( founder, Abhinav Suri) and Ishpreet Singh Gandhi, In about six months since its inception, it introduced a startup-led loan disbursement mechanism for its supply chains and crossed the Rs 200 crore milestone in AUM (assets under management).

It aims to help startups to expand, and plans to develop more products that meet both credit and non-credit needs for startups and MSMEs.

“We at Stride Ventures have been constantly trying to innovate newer and better structures that would be further conducive to startups who are looking to expand and grow their businesses,” said, Ishpreet Singh Gandhi, founder, StrideOne.

“It has been a supremely gratifying journey for us already and with Elevar’s deep expertise in democratizing access to capital for underserved customer segments, we look forward to doubling down on our milestones in FY’23 and beyond”, he added.

The company recently acquired tech firm EzCred Platform and plans to make more tech-focused acquisitions in 2022.

“The accelerated scale displayed by StrideOne reiterates the massive opportunity waiting to be unlocked in the extended startup ecosystem and we are excited to partner with them to bring it to life,” said, Jyotsna Krishnan, managing partner, Elevar Equity.

Stride Ventures has backed many startups such as Zetwerk, Spinny, Mensa Brands, Sugar Cosmetics, MyGlamm and MoneyView.

About StrideOne

StrideOne is a tech-led financial services platform for startups, from the founders of India’s award-winning venture debt fund Stride Ventures. The company focuses on providing smartly designed customized financial solutions to MSMEs and supply chain partners of startups (anchors). This enables a win-win distribution model that provides access to intelligently customised growth capital for MSMEs and also enables risk-efficient penetration into untapped borrower segments for StrideOne’s lending partners.

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