Participated · Series B · May 2023

Ace Turtle Omni Pvt Ltd runs an asset-light, technology-enabled model that integrates online and offline retail for international apparel brands in India, currently managing Lee, Wrangler and the recently added G-Star Raw. Its proprietary omnichannel platform supports end-to-end operations from merchandising to last-mile delivery, allowing the company to serve both e-commerce marketplaces and its expanding network of physical stores. Management plans to accelerate store roll-outs and deepen brand penetration using a test-and-scale merchandising approach informed by digital demand signals. The company has raised about $48 million to date and expects to reach EBITDA neutrality in the quarter ending December, targeting sustained profitability over the next few years. Proceeds from recent and prior rounds are earmarked for working capital and brand expansion. India’s fast-growing $60 billion e-retail market underpins Ace Turtle’s growth prospects, as trend-first fashion brands gain ground through data-driven product cycles and personalised customer experiences.

Led · Series A · Dec 2021

LenDenClub is a Mumbai-based P2P lending platform (founded in 2014 by Bhavin Patel and Dipesh Karki) that offers InstaMoney for salaried customers and small-business loans for merchants and shopkeepers. The platform claims over 2.5 million borrowers and one million investors/lenders and has recorded loan disbursements of more than Rs 2,000 crore, including Rs 1,200 crore in the first six months of FY21-22. The company reports an NPA of 3.95% and says it was the only player in the P2P space to have turned profitable earlier this year. LenDenClub plans to transition toward a digital banking model and offer a broader set of financial services. Management aims to grow the loan book to $1 billion and upscale the user base to 10 million by FY23, targeting 5x growth in disbursals over the next 18 months. The startup intends to invest in platform innovation, make strategic C-suite hires, and expand tech, product, marketing and customer-service teams to support its expansion. LenDenClub offers small-ticket loans by listing approved borrower profiles on a special lender app where over 10,000 active lenders choose whom to lend to. It sources borrowers from more than 150 cities and aims to reduce underwriting time with instant approvals for profiles meeting preset criteria. Loans that meet minimum qualifications are approved within five minutes; others are underwritten by a back-end team with a two-hour turnaround. The company plans to double its reach and double the number of lenders on the platform to reach Rs. 500 crores in disbursals in the next 18 months. The current reported operational metrics are its lender base (over 10,000 active lenders) and geographic reach (over 150 cities). The company raised external capital in the form of a pre-Series A round to support this expansion. LenDen Club operates a P2P lending marketplace that matches lenders seeking high returns with creditworthy borrowers seeking personal loans of up to 24 months. The platform claims to have arranged loan transactions worth Rs 17 crore with an average return rate of 25%. It reports over 8,000 borrowers in Mumbai and Pune and 2,800 lenders across India, including non-resident Indians. Loans are approved after an 18-hour time gap upon request and typically disbursed within three days. The company will use new capital to enhance its product platform and improve tech automation and plans to scale disbursals in coming months. LenDen Club is run by Innofin Solutions Pvt Ltd and was founded in 2014 by Dipesh Karki and Bhavin Patel. LenDenClub operates a web-based peer-to-peer lending portal that connects salaried borrowers to individual lenders. The platform evaluates creditworthiness using a mix of traditional and non-traditional data points. Founded in 2014 and mentioned in a Mumbai report, the startup says it has arranged over 150 loans to date. The founders plan to use recent seed funding to enhance the platform and build an end-to-end online lending process. The company positions itself as a fintech intermediary aiming to streamline online lending workflows.

Participated · Equity · Jan 2019

LoanTap offers differentiated, customized personal loans—such as EMI-free loans, rental deposit loans and holiday loans—targeted at white-collared salaried professionals. Founded in May 2016 by Satyam Kumar and Vikas Kumar and based in Pune, the startup emphasizes a strong technology backbone and underwriting process to deliver a superior customer experience. The company says it became profitable within two years of operations and tripled its loan book last year. LoanTap competes with players like LendingKart, Rubique, CapitalFloat, Faircent, FlexiLoans, EarlySalary and Money Tap. Management intends to use the latest funding to further fuel growth and scale its loan book while maintaining portfolio quality. Avaana highlighted LoanTap’s focus on customer cash-flow–centric product design and robust underwriting as reasons for the investment. LoanTap is a Pune-based non-banking finance company (NBFC) launched in May 2016 by Satyam Kumar and Vikas Kumar that provides flexible loan products to salaried millennials. Its products include EMI-free loans, personal overdraft facilities and rental deposit loans tailored to tech‑savvy employees. The company emphasizes a profitable loan book and says it became profitable in its second year while keeping cash burn minimal. In July 2018 LoanTap reported a 6.7x increase in its loan book with an average loan size of Rs 2.48 lakh disbursed across Bengaluru, Delhi, Pune and Mumbai. With the new capital the platform plans to leverage more and pursue a larger loan book, including plans to raise Rs 90 crore of debt. LoanTap also plans to roll out three DIY products in the personal loan space. LoanTap operates a digital platform providing personal loans and overdraft products targeted at salaried professionals, particularly a low-delinquency segment with two to five years of job experience. The company uses an agency-based collection model and a strict credit-quality algorithm to underwrite customers. It is headquartered in Mumbai with a back office in Pune. Founders Satyam Kumar and Vikas Kumar run the business; Satyam has extensive banking experience and Vikas has a background in software and startups. LoanTap has previously raised equity and debt and reports it turned profitable in its second year of operations. The firm has raised over $20 million in debt and equity so far and plans to leverage an additional $30 million in debt this year. LoanTap operates an online lending platform targeting salaried professionals with loans and overdraft products, and disburses loans through in-house NBFC Lotus Sree Filco Pvt Ltd. The company follows an agency-based collection model and focuses on a low-delinquency salaried segment with 2–5 years of job experience. It has a reported loan book of $2 million and runs technology from a Mumbai headquarters with a back office in Pune. LoanTap plans to use new funding to grow its loan book, bolster collection features in its software, and expand into smaller cities and towns and the top 10 cities. The startup intends to add products including car and home loans and eventually lend to small and medium-sized businesses with an average loan size target of Rs 2 lakh.