WeRize- a Fintech startup raised $15 Million

WeRize

WeRize is a Fintech startup that has raised an amount of INR 121 crores that is amounting to $15.5 million in a Pre-Series B funding. This fresh funding round was led by its existing investments 3one4 Capital, with the participation of the companies like - Picus Capital, Kalaari Capital, and Orios Funding.

British International Investment and Sony Innovation Funding came on board after this fresh round.

This company has passed a resolution of allotment of 31,670 Pre-Series B Compulsorily Convertible Preference Shares at an issue price of INR 38,172.83 per share to raise $15.5 million (approx. INR 121 crore).

In the month of September 2021, WeRize had raised $8 million in a Series A round from its existing investors.

WeRize was founded by Vishal Chopra, and Himanshu Gupta in the year 2019. It is a socially distributed financial services company that has an offering of customized credit, group insurance, and savings products to users who are living in small towns in India.

The company calls itself the ‘Social Shopify of Finance’, the company has built a network of local freelancing financial agents who distribute the products developed by the company, both in-house and in partnership, in their social circles.

The company claims to have about 500,000 customers and has a vision to onboard 2 million families in the next 3 years. The company also has a desire to grow its existence to over 4,000 small cities across the country. It is currently at a 15 % month-on-month growth.

Tags : WeRize, StartupsDekho

Startups

WeRize- a Fintech startup raised $15 Million

Tags : WeRize, StartupsDekho

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