StrideOne -Financial service platform raised Rs 250 Cr

StrideOne is a Gurugram-based financial services platform that raised Rs 250 crore in a funding round which was led by Elevar Equity. StrideOne has been operating in stealth mode for the last six months. The company facilitates financial products to micro, small, and medium enterprises (MSMEs) and supply chain partners of startups.

StrideOne was launched by Ishpreet Singh Gandhi and Abhinav Suri, who are the founders of the venture debt fund Stride Ventures.

On a current basis, the company is focusing on lending. A registered non-banking financial company, StrideOne has been able to access borrowers in a risk-efficient manner. The company follows the credit distribution model that permits MSMEs to access customized growth capital.

StrideOne is planning to add more products to its list to address both credit and non-credit gaps for startups and MSMEs.

The company is planning to utilize the fresh funding capital to invest more in technology startups in 2022.

Stride Ventures has backed startups like Zetwerk, Spinny, MyGlamm, Mensa Brands, SUGAR Cosmetics, and Money View. The company has 20 team members, 20 anchor startups as its customers, and Rs 200 crore in assets under management.

EXECUTIVE OPINION:

“Through StrideOne, we aim to go deeper into the startup ecosystem and provide financial products and services, which help in daily financial management,” said Abhinav Suri, Co-founder, StrideOne.

“We found two people who have deep execution experience in financial services, understand the startup ecosystem well, and are very sharp in how they have designed distribution into a massive, underserved market. They have a unique vision and a super-efficient profitable distribution model that lends itself to exponential growth,” said Jyotsna Krishnan, Managing Partner, Elevar Equity.

Tags : StrideOne -Financial service platform, StartupsDekho

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StrideOne -Financial service platform raised Rs 250 Cr

Tags : StrideOne -Financial service platform, StartupsDekho

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