Startup Funding Alert: 24th October 2019

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Bengaluru-based Loca raises funding from Stellaris and Fosun

Last-mile connectivity service Loca has raised an undisclosed amount of funding in its first round of financing from a bunch of investors led by Stellaris Venture Partners, China-based Fosun RZ Capital, Aprameya Radhakrishna, co-founder at Taxiforsure, Mayank Bidawatka, co-founder at Vokal and Rohit MA, co-founder at Cloud Nine.

The Bengaluru-based service provider plans to use the fresh funding to expand its presence in all the major Bengaluru metro stations and scale its tech and operations team. Loca also plans to expand geographically to various cities, including Delhi, in the coming year. The company, launched by Gautam Patil and Krishnakumar Ramachandran in April 2019, presently operates four Bengaluru stations, including Indiranagar, Yelachenahalli, Mysore Road, and Vijayanagar. Loca views its services as comfortable, AC shared rides available at an affordable price, less than the cost of an autorickshaw ride.

 

Fintech firm Wealthy.in raises $1.3 million from Good Capital & Emphasis Ventures

Fintech startup Wealthy.in has raised $ 1.3 million in financing led by venture capital firm Good Capital, Emphasis Ventures. The firm has been backed up by investors like V1 Capital, Globevestor, Venture Highway, and Tracxn. The fintech firm plans to use the funds to scale-up its partner base and continue further development of its platform to offer more financial products. 

Wealthy.in is a fast-growing fintech startup that enables professionals and other individuals to become wealth managers by providing them with digital financial products and training them to succeed as independent entrepreneurs. The firm, co-founded by Aditya Agarwal and Prashant Gupta, entered the fintech market in 2016 by offering tax-saving investments in three clicks and scaled its portfolio of financial products and services over the years. The company acquired its first customer base swiftly through word of mouth and its seamless and paperless investment solution. Seeing the rapid growth, the fintech firm was encouraged and launched its new product features and further scaling-up its business and expanding its user base. 

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A passionate writer with bachelor’s in the field of English & Journalism. Other than being a bibliophile, some of her hobbies are travelling, photography and poetry.

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