Funding
Rural fintech Navadhan raises $1.5M in seed round
Navadhan, a rural fintech startup, has raised $1.5 million in a seed round led by Varanium NexGen, a fintech-focused fund. The round also saw participation from existing investor Anicut Capital, which co-led the funding, as well as Gemba Capital.
The funds will be utilised by Navadhan to expand and enhance its AceN Tech platform. The platform acts as a link between rural small businesses (MSMEs) and non-banking financial companies (NBFCs) and banks, enabling seamless connections and interactions.
With a network comprising 15 lenders, including Ugro, Vivriti, Northern Arc, Caspian, Unitus, and TruCap, Navadhan claims it has already onboarded over 200,000 customers and disbursed more than Rs 100 crore.
Co-founders of Good Flippin’ Burgers
Good Flippin’ Burgers raises $4M in Series A round
Burger chain Good Flippin’ Burgers has raised $4 million in a Series A funding round led by Tanglin Venture Partners. The company said it will use the funding on geographical expansion, reinforcing its supply chain, and further refining its dining and quick service models in next 12 months.
By implementing these strategic initiatives, Good Flippin’ Burgers aims to establish itself as a dominant player in the market, catering to the increasing demand for burgers across regions.
The company was founded in 2019 by Viren Dsilva, Sijo Mathew, and Sid Marchant. It raised $1 million in April 2022 and has expanded threefold over the past year, the company said.
Co-living startup Truliv raises $1.5M in pre-seed round
Truliv, a Chennai-based startup specialising in co-living and holiday homes, has raised a pre-seed funding round of $1.5 million.
The investment was led by Conquest Global Ventures VCC, Vara Future, and other investors, valuing Truliv at Rs 60 crore, as per a statement.
Rohit Reddy, Co-founder, Truliv, said, “Truliv intends to utilise these funds for the growth of its co-living and Holiday Homes business verticals. The company targets to reach 7,000 co-living beds in Chennai by 2025, which is a 3X increase from its current capacity, and to 36 Holiday Homes across Tamil Nadu by 2025 which is a 5X increase from its current capacity.”
Other news
Cashfree launches CVV-free card payments on major card networks
Cashfree Payments, a payments and API banking firm in India, has introduced CVV-free card payments for its partner businesses.
This feature allows customers to enjoy convenient checkouts when using saved (tokenised) cards on major networks like Visa, Mastercard, and RuPay.
Akash Sinha, CEO and Co-founder, Cashfree Payments
By eliminating the requirement to enter the CVV (Card Verification Value), the payment process becomes streamlined, reducing transaction time by up to 5 seconds. Importantly, these CVV-free payments adhere to the strictest security standards set by the Reserve Bank of India (RBI), the firm claimed.
GoKwik partners CRED to boost payments
GoKwik, an ecommerce enabler, and CRED, a community of creditworthy individuals, brands, and institutions, have announced a strategic partnership to expand CRED’s payment options to brands utilising the GoKwik platform.
By integrating CRED’s payment options, brands on GoKwik could benefit from increased discoverability, improved prepaid conversions, and reduced instances of return to origin (RTO).
As part of the partnership, CRED Pay will be integrated into GoKwik’s range of payment solutions available at checkout.
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