Led · Debt Financing · Mar 2026

Founded in 2014, True Balance operates an app-based platform that delivers personal loans, bill payments, mobile recharges, and other digital financial services to consumers frequently overlooked by traditional banks. Its lending activities are carried out through its NBFC subsidiary, True Credits Pvt Ltd, enabling the company to underwrite and disburse credit to users with little or no formal credit history. During the current financial year, True Balance has already disbursed more than $30 million in loans, underscoring strong demand for its alternative credit products. Run by Balancehero India, the local arm of South Korea–based Balancehero, the company uses proprietary data and technology to extend credit responsibly to the mass market. Beyond lending, the platform’s payments suite helps customers handle everyday transactions, deepening engagement and data collection. To date, True Balance has attracted approximately $150 million in combined equity and debt financing, including a prior $28 million round led by SoftBank and Daesung Private Equity. With fresh capital now in hand, the firm plans to expand its loan book and roll out additional credit products to reach more underserved borrowers.

Participated · Debt Financing · Apr 2024

Founded in 2012 by Mainak Chakraborty and Sreekrishna Sankar, GPS Renewables develops, produces, and distributes biofuels and bioenergy infrastructure. The company says it has delivered over 30 projects that are operational or nearing completion and has visibility into more than 200 compressed biogas (CBG) projects being developed with oil marketing companies. GPS Renewables recently secured an EPC contract from NTPC to build India’s first ethanol-to-jet sustainable aviation fuel plant, indicating expansion into higher-value biofuel projects. It has an asset-holding platform called GPSR Arya that has attracted equity investments from a major South Korean conglomerate and prior funding from Sojitz Corporation. The company employs over 800 people and reports annual revenue of around Rs 1,000 crore. Current and recent financings include a $20 million Series B in 2022, $50 million of debt in 2024, and the Rs 635 crore Series C in 2025.

Led · Debt Financing · Apr 2024

Metalbook operates a full-stack platform for the metal supply chain, offering services such as credit, logistics, inventory liquidation, and procurement to businesses including SMEs. The company says it works across 16 countries with more than 500 suppliers, dealers, and manufacturers, including ArcelorMittal Nippon Steel, Tata Steel, and JSW. Metalbook was founded in 2021 and is headquartered in Delhi. It completed a $15 million Series A in February 2024 led by Rigel Capital and had earlier raised a $5 million seed round led by Axilor. In FY22 the company reported operating revenue of Rs 85.39 crore and losses of Rs 25.90 crore. Metalbook stated an aim to reach an annualized revenue run rate of $200 million by the end of FY24. Metalbook is an India-based B2B platform focused on the global metal supply chain, connecting a network of metal suppliers and buyers. It offers a full-stack digital supply-chain solution covering manufacturing and procurement of metal, including financing, logistics, scrap recycling, customization, and buying and selling. The company has expanded its product categories to include copper, aluminium, and metal scrap. Metalbook said it is profitable and currently serves more than 1,000 clients across 450 markets. The startup aims to reach an annualized revenue run rate of $200 million by the end of the 2024 fiscal year. Leadership has expressed plans to consider an IPO in four to five years once there is sufficient market track record for investors. Metalbook is a full-stack digital supply-chain platform that connects a global network of metal suppliers and consumers, offering procurement, fabrication, and customization for finished and semi-finished metal goods. The platform facilitates transactions, smart matchmaking, automation of manual tasks, and provides traceability while aiming for competitive pricing and on-time delivery. Today the company focuses on steel and plans to add other metal categories such as aluminum and zinc. Metalbook generated annualized revenue of more than INR 100 Cr in fiscal 2021-22 and targets an annualized run rate of over $100 million by fiscal 2024. The startup intends to use new funding to expand its geographical footprint, strengthen its network of processing centers, grow its workforce, and further develop its platform. The company was founded in 2021 and operates as Mbook Technology Private Limited.

Led · Debt Financing · Mar 2024

LoanKuber, founded in 2017 by Saurabh Nagpal, is a mortgage fintech offering customized loans to underbanked MSMEs and runs the Janasha Finance brand. The company emphasizes unit metrics, capital efficiency, and lean operations, and uses low-cost branches, a digital connector platform, and a lead-generation platform to cut customer-acquisition costs by about 30%. It is building an automated institutional co-lending platform for microloans to offer competitive consumer rates and higher yields on NBFC balance sheets. LoanKuber has raised roughly $13 million to date, including a $2 million Series A in February last year, and recently closed a $3.5 million pre-Series B. Proceeds, currently totaling about Rs 93 crore, will be used to increase assets under management (AUM), strengthen the leadership team, and upgrade technology infrastructure. The company aims to grow its AUM to about Rs 180 crore over the next 12 months and reports a net worth of around Rs 51 crore. Janasha Finance (branded LoanKuber) operates an automated managed marketplace and institutional co-lending platform that enables mortgage lending to micro, small and medium enterprises and semi-skilled professionals. The company uses data mining and analytics and hybrid acquisition channels (digital connector, lead generation platform and low-cost branches) to reduce customer-acquisition costs by up to 30 percent. Janasha underwrites mortgage loans in the range reported in the article (INR 3–10 lakhs; another passage notes INR 3–8 lakhs) primarily for business expansion, and serves customers across the National Capital Region. Its current assets under management are approximately INR 80 crores and the firm intends to expand AUM to INR 220 crores by FY25. Management plans to onboard 5,000 MSMEs over the next 18 months and targets a profit of INR 8–10 crores in FY25. The product roadmap and use of proceeds for the latest financing include expanding AUM, strengthening technology and growing the team to scale mortgage access for underserved communities. LoanKuber is a digital mortgage platform that provides micro‑mortgages to micro‑SMEs through an automated institutional co‑lending platform. The company operates an NBFC balance sheet to generate higher yields while enabling competitive pricing for end customers. It has developed hybrid acquisition channels — a digital connector platform, a lead generation platform, and low‑cost branches — which the company says reduce customer acquisition costs by about 30%. LoanKuber positions its product to unlock the economic value of semi‑urban and rural properties and to serve the “next half billion” Indians. The recently raised funds will be used to scale assets under management, improve the technology stack, and expand the team and operations. LoanKuber is a digital-first automated mortgage platform that enables lending to Micro-SMEs using owned residential collateral. The platform partners with larger financial institutions to access diversified, lower-cost capital, positioning LoanKuber as a low-cost mortgage lender compared with regional MSME lenders. Founded in 2017 by IIT Delhi alumnus Saurabh Nagpal, the New Delhi-based startup is operational in 10 cities across the NCR. The management team claims a combined 60 years of experience in mortgage lending in the region and the founder has 15 years of experience across computational finance and mortgage lending. With the new funding, LoanKuber plans to build and expand its team, enhance its tech stack, and rapidly grow its loan book to Rs 75 crore in the next 12 months. It also aims to onboard 1,000 MSMEs in the next 12 months as part of its expansion plan.

Led · Debt Financing · Nov 2022

Cityfurnish is an online furniture-rental platform founded in 2015 that lets customers rent furniture as an alternative to buying for flexible requirements. The company operates a full-stack model, designing furniture in-house using solid sheesham wood and controlling last-mile delivery and assembly. Its service proposition includes 72-hour free delivery plus free maintenance, relocation and upgrade options. Cityfurnish says it turned profitable and recorded more than 100% growth in revenue through 2022. It is present in Delhi NCR, Bengaluru, Mumbai, Pune, Hyderabad and Chennai and plans to expand operations, strengthen brand positioning and enhance technology and city presence by 2025. The company has raised $10 million to date in equity and debt. CityFurnish is an India-based startup that offers rental of furniture and consumer appliances to consumers. The company operates a platform for customers to rent household furniture and appliances on flexible terms. The article reports a recent $5 million funding round. Investors named in the round include Gmail founder Paul Buchheit, Youtube founder Steve Chen, and venture firms Global Founders Capital, Venture Highway, Soma Capital, SCM Advisors and Boomerang Ventures. The article does not disclose valuation, revenue, user metrics, or specific use of proceeds. No additional future plans or operating metrics were provided in the article.