Total amount raised
$23.8 Million
Latest funding date
9/1/2022
Location
indiagold has successfully raised funding through four rounds, with the latest being a Series A round. The platform is backed by notable investors including 3one4 Capital, PayU GPO, and Alphawave Group.
Keep reading to explore the intricacies of indiagold's fundraising journey and the investors supporting this innovative platform.
What Is indiagold?
indiagold is a private company based in Gurgaon, Haryana, India, specializing in financial services, particularly in the fintech sector. The company focuses on empowering India to meet its credit and investment needs using gold. It operates in industries such as apps, credit, financial services, fintech, and software.
With a workforce of 101-250 employees, indiagold has successfully raised funding through multiple rounds, attracting significant investment from firms like 3one4 Capital and PayU GPO. The company offers competitive gold loan services, emphasizing quick disbursal and low documentation requirements.
How Much Funding Has indiagold Raised?
- Seed Round
- Amount Raised: USD 1,800,000
- Date: February 2021
- Lead Investors: Leo Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish a strong foundation and develop initial product offerings.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: April 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart operations and build the core team.
- Series A Round
- Amount Raised: USD 12,000,000
- Date: August 2021
- Lead Investors: Alpha Wave Incubation, PayU GPO
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and enhance technological capabilities.
- Series A Round (Extension)
- Amount Raised: USD 10,000,000
- Date: September 2022
- Lead Investors: Alphawave Group
- Valuation at Round: USD 100,000,000
- Motivation Behind the Round: To capitalize on the growing market potential for gold-backed loans and expand services across more cities.
Total Amount Raised: USD 23,800,000. Current Valuation: USD 100,000,000.
Key Investors
- Alphawave Group
- Details: Alphawave Group is a leading investor in the latest funding round for indiagold. They focus on high-growth technology and fintech companies.
- Investment Focus Areas: Technology, fintech, high-growth startups
- Notable Investments: Not publicly disclosed
- Alpha Wave Incubation
- Details: Alpha Wave Incubation is a significant investor in indiagold's Series A round. They are known for investing in early-stage technology companies.
- Investment Focus Areas: Technology, fintech, early-stage startups
- Notable Investments: Not publicly disclosed
- PayU GPO
- Details: PayU GPO is a major investor in indiagold, participating in multiple funding rounds. They specialize in fintech investments, particularly in payment solutions and financial services.
- Investment Focus Areas: Fintech, payment solutions, financial services
- Notable Investments: Not publicly disclosed
- Leo Capital
- Details: Leo Capital is an early-stage investor in indiagold, leading the seed round. They focus on technology startups, particularly in fintech, consumer internet, and enterprise software.
- Investment Focus Areas: Fintech, consumer internet, enterprise software
- Notable Investments: Not publicly disclosed
- 3one4 Capital
- Details: 3one4 Capital is an existing investor in indiagold, participating in the latest funding round. They typically invest in early-stage companies across various sectors.
- Investment Focus Areas: Fintech, consumer tech, enterprise services
- Notable Investments: Not publicly disclosed
What's Next for indiagold?
Indiagold stands at the cusp of significant growth opportunities. With the Indian gold loan market projected to grow substantially, the company can expand its gold-backed loan services and storage solutions across more cities. Leveraging lower locker rental fees compared to banks, indiagold is well-positioned to attract a broader customer base.
Future fundraising looks promising as indiagold's recent $10 million funding round doubled its valuation to $100 million. The involvement of prominent investors like Alphawave and PayU indicates strong confidence, paving the way for more investment rounds. However, the company must navigate challenges such as market volatility and competition from other fintech firms and traditional financial institutions.
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