How Much Did Uni Cards Raise? Funding & Key Investors

Uni Cards has successfully navigated three funding rounds, securing backing from nine investors, including Stride Ventures and Eight Roads Ventures. The company is focused on revolutionizing the credit industry with innovative products like the GoldX credit card, which offers unique benefits such as earning 24K gold with every spend and zero forex markup.

Keep reading to explore the intricacies of Uni Cards' fundraising journey and the investors backing this innovative platform.

What Is Uni Cards?

Uni Cards is a financial services startup based in Bengaluru, Karnataka, India. The company operates within the Credit Cards, Financial Services, and FinTech industries, aiming to revolutionize the credit industry with innovative products.

Founded with a mission to transform the world of credit, Uni Cards has grown to employ between 251-500 people. The company offers unique products like the GoldX credit card, which allows users to earn 24K gold as rewards and features zero forex markup.

How Much Funding Has Uni Cards Raised?

1. Seed Round
   • Amount Raised: USD 18,500,000
   • Date: October 2020
   • Lead Investors: Accel, Lightspeed India Partners
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To develop and launch their initial product offerings and establish a market presence.
2. Series A
   • Amount Raised: USD 70,000,000
   • Date: December 2021
   • Lead Investors: General Catalyst
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To scale the business and expand product offerings.
3. Debt Financing
   • Amount Raised: USD 6,400,000
   • Date: June 2022
   • Lead Investors: Stride Ventures
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To gain market confidence and support the business model.

Uni Cards has raised a total of USD 94,900,000. The current valuation is not publicly disclosed.

Key Investors

• Stride Ventures
  • Details: Stride Ventures is a venture debt firm that has extended Rs 50 crore to Uni. The firm has sanctioned over Rs 1,600 crore in 65+ companies.
  • Investment Focus Areas: Consumer, Fintech, Logistics, Agritech, B2B commerce, Healthtech, B2B SaaS, Mobility, Energy solutions (EV)
  • Notable Investments: Specific notable investments are not mentioned in the sources.
• General Catalyst
  • Details: General Catalyst is a US-based venture capital firm that led the $70 million Series A round for Uni. The firm invests in early-stage and growth-stage companies across various sectors.
  • Investment Focus Areas: Not specified in the sources.
  • Notable Investments: Specific notable investments are not mentioned in the sources.
• Eight Roads Ventures
  • Details: Eight Roads Ventures participated in Uni's Series A round. The firm invests in technology and healthcare sectors.
  • Investment Focus Areas: Technology, Healthcare
  • Notable Investments: Specific notable investments are not mentioned in the sources.
• Elevation Capital
  • Details: Elevation Capital participated in Uni's Series A round. The firm focuses on early-stage investments in technology and internet sectors.
  • Investment Focus Areas: Technology, Internet
  • Notable Investments: Specific notable investments are not mentioned in the sources.
• Lightspeed
  • Details: Lightspeed is an existing investor in Uni and participated in the Series A round. The firm invests in technology, consumer, and enterprise sectors.
  • Investment Focus Areas: Technology, Consumer, Enterprise
  • Notable Investments: Specific notable investments are not mentioned in the sources.

What's Next for Uni Cards?

Uni Cards is poised for significant growth, leveraging its innovative credit solutions like the Pay 1/3rd card. With a strong presence in over 130 Indian cities, the company is well-positioned to expand its customer base and product offerings. The increasing demand for flexible payment options presents a substantial market opportunity.

Future fundraising looks promising, with potential for additional venture debt and equity rounds. The strategic partnership with Stride Ventures and previous successful funding rounds indicate continued investor interest. However, Uni Cards must navigate challenges such as intense competition and regulatory hurdles to maintain its growth trajectory.

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