Participated · Debt Financing · Aug 2025

FincFriends runs RupeeRedee, an online lending marketplace focused on offering short-term and small-ticket loans to customers who lack access to conventional banking credit. The company positions itself as a digital-first, paperless provider, emphasizing rapid approvals and disbursements through its mobile and web interfaces. Management says its mission centers on financial inclusion, targeting India’s emerging markets and underbanked segments. The latest financing will be used to broaden RupeeRedee’s geographic footprint and upgrade its technology stack to reach more borrowers. CEO Artem Andreev highlighted that the firm’s lender network continues to support its growth strategy and vision. While no revenue or user figures were disclosed, the sizeable debt raise underscores lender confidence in FincFriends’ asset-light distribution model and portfolio quality.

Led · Debt Financing · Jul 2024

Frendy operates a modern network of neighborhood grocery mini-marts (Frendy Marts) and digitally connected micro‑kiranas to serve customers in India’s small towns and villages. The company runs about 2,000 micro kiranas and 25 marts across rural Gujarat and digitally connects a group of micro‑kiranas and end users to its marts to create a last‑mile digital commerce bridge. Frendy says the funds raised will be used to pay for central inventory required to supply its network. The company projects revenue of Rs 82 Cr for FY23 and hopes to double sales in the upcoming year as the brand spreads geographically. Founded in 2019 by Sameer Gandotra and based in Ahmedabad, Frendy aims to expand its physical footprint in the next 12 months to 100 marts and 3,000 micro kiranas. Frendy is an Ahmedabad-based online marketplace that builds a digitally connected network of convenience stores and virtual marts serving smaller towns and rural India. Co-founded in 2019 by Sameer Gandotra, Gowrav Vishwakarma, and Harshad Joshi, the platform offers groceries, drinks, fruits, vegetables, cleaning supplies, personal care, cosmetics, kitchenware and electronics. The company reports offering between 1,000 and 2,000 products and also states its catalog exceeds 4,500 items. Frendy leverages neighborhood home entrepreneurs to operate virtual marts and currently serves over 40 tier II–VI towns in Gujarat with about 50,000 clients. Revenue grew from Rs 40 crore in FY22 to Rs 82 crore in FY23. The company intends to use additional funding to grow its store network, enhance its technology offering, and expand its private-label product portfolio. Frendy operates a community group-buying platform that partners with neighborhood homepreneurs to create a “digital supermarket” offering more than 4,500 products across 25+ tier 2–6 towns. The Ahmedabad-based startup has a 100-person team including an in-house technology group and uses an asset-light franchised local distributor model targeted at Tier 3–6 markets. Frendy says it has achieved Rs 43 crore revenue in its first year with break-even unit economics and has disbursed over Rs 2 crore to its microentrepreneur community; it claims average partner incomes several times higher than typical reseller platforms. The company recently expanded into Rajasthan and Madhya Pradesh and has hired industry veterans, including a new COO and a consulting advisor. With the new funding, Frendy plans to focus on growth, team expansion and working capital to scale its homepreneur model and expand geographic reach. The founders are Sameer Gandotra and Gowrav Vishwakarma; the company was founded in 2019. Frendy, operated by Areli Commerce Pvt Ltd, was founded in 2019 by Sameer Gandotra. The platform provides discounted groceries and other daily-need items to tier two–tier six towns via neighbourhood homepreneurs. It operates in more than 20 towns across Gujarat and lists over 3,000 products. The company reports 30% month-on-month growth and says it is set to reach an ARR of Rs 300 crore in the next financial year. Frendy currently has 75 employees across tech, community building and operations. The startup plans to use new capital to fund growth, expand its team and cover working capital needs, and intends to scale into Rajasthan, Madhya Pradesh and a few eastern states.

Participated · Debt Financing · Jul 2024

Care.fi provides an AI-first healthcare operating system designed to automate hospital revenue cycle management tasks including documentation, coding, claims processing, and collections. The company also operates an NBFC to offer working capital solutions to its hospital partners. Care.fi plans to use recent funding to expand to more Indian cities and to enter the U.S. and Middle Eastern markets while continuing to invest in product development. Financially, the company has raised approximately $5 million previously and closed an $8 million Series A in 2026 consisting of equity and debt. Care.fi was founded in 2021 by Vikrant Agrawal and Sidak Singh and is headquartered in Gurugram.

Participated · Equity · Jan 2024

Alt Mobility is a full‑stack electric vehicle as‑a‑service company that provides integrated leasing, servicing, charging, real‑time fleet monitoring and data‑driven insights for commercial fleet operators. The company manages a fleet of 13,000 vehicles and reports assets under management of over $30M across 30 Indian cities. Alt Mobility says it drives rapid EV adoption by lowering total cost of ownership and maximising fleet uptime through end‑to‑end asset management. It plans to expand its fleet to 30,000 vehicles and reach roughly $100M AUM by March 2027. The company will also invest in expanding its digital asset management platform and standardising battery technology to support scale. Founded in 2021 and led by CEO and co‑founder Dev Arora, Alt Mobility is headquartered in New Delhi, India. Alt Mobility is a technology-enabled electric-vehicle leasing and full-stack lifecycle management platform that offers Fleet Lease combining leasing with insurance, roadside service, maintenance, charging and parking hubs. The company operates FleetOS, an EV asset-management platform it plans to scale by hiring an engineering team. It began leasing vehicles in April 2022 and has scaled to assets under management (AUM) of $12 million (Rs 100 crore), comprising leased e2W, e3W, e4W and chargers. Alt Mobility plans to launch new verticals including Drive-to-Own, Parametric Insurance, Fleet Depots and a Battery Refurbishment Unit and to expand its presence to 20+ cities. Management is targeting an AUM of $100 million within the next two years and aims to become the largest proprietary EV fleet provider in India. The company was founded in 2021 by Dev Arora, Anuj Gupta, Manas Arora, Harsh Goyal and Jayant Gupta and is based in Gurgaon, India.

Led · Equity · Jan 2024

VRO Hospitality is a food and beverage chain that owns and operates 40 fine-dining outlets and upscale lounges across multiple Indian cities and runs several cloud-kitchen brands. Its portfolio includes consumer-facing brands such as Badmaash, Cafe Noir and Taki Taki, plus others like Mirage, Plan B, Los Cavos and One Night in Bangkok. The company also operates cloud kitchens including Burgers and Beyond, Holy Doh Pizzas, Smashed and Whacky Chang. VRO plans to use the funds to expand its brands across India, scale operations and accelerate product development, with an international and national expansion drive led by select brands. Financially, the company completed a $10 million bridge round (a mix of equity and debt) to support that growth. VRO was started in May 2018 by Dawn Thomas, Safdhar Adoor and Sharath Rice; the founders previously sold their other venture SteppinOut to Times Internet in early 2021.