Total amount raised
$94.9 Millions
Latest funding date
06/01/2022
Location
Uni Cards has successfully raised funding through multiple rounds, with notable investors such as Stride Ventures and Eight Roads Ventures backing the company. The platform offers innovative financial products, including the GoldX Credit Card, which provides unique benefits like earning 24K gold on transactions.
Keep reading to explore the intricacies of Uni Cards' fundraising journey and the investors supporting this innovative platform.
What Is Uni Cards?
Uni Cards, founded in October 2020, is a financial services startup headquartered in Bengaluru, Karnataka, India. The company was established by Laximikant Vyas, Nitin Gupta, and Prateek Jindal.
Operating in the credit cards and financial services industry, Uni Cards employs between 251-500 people. The company aims to revolutionize the credit industry with innovative products, including the GoldX Credit Card, which offers unique benefits like earning 24K gold on transactions.
How Much Funding Has Uni Cards Raised?
- Seed Round
- Amount Raised: $18.5M
- Date: October 2020
- Lead Investors: Accel, Lightspeed India Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To launch and develop their initial product offerings and establish a market presence.
- Series A
- Amount Raised: $70M
- Date: December 2021
- Lead Investors: General Catalyst
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and expansion of Uni's credit-card based products and services.
- Debt Financing
- Amount Raised: ₹500M
- Date: June 2022
- Lead Investors: Stride Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To secure capital for operational expansion, product development, and scaling the business.
Uni Cards has raised a total of $88.5M in funding. 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. They are raising their second venture debt fund, aiming to exceed Rs 1,600 crore.
- Investment Focus Areas: Consumer, fintech, logistics, agritech, B2B commerce, healthtech, B2B SaaS, mobility, energy solutions (EV).
- Notable Investments: Uni Cards, Sugar Cosmetics, Miko.
- General Catalyst
- Details: General Catalyst is a US-based venture capital firm that led Uni's Series A investment round. They focus on early-stage and growth-stage investments.
- Investment Focus Areas: Technology, healthcare.
- Notable Investments: Airbnb, Stripe, Snap Inc.
- Accel
- Details: Accel is a global venture capital firm that participated in Uni's seed round. They focus on early-stage investments in technology companies.
- Investment Focus Areas: Technology.
- Notable Investments: Facebook, Dropbox, Slack.
- Lightspeed India Partners
- Details: Lightspeed India Partners is a venture capital firm that participated in Uni's Series A round. They focus on early and growth-stage investments.
- Investment Focus Areas: Technology, consumer companies.
- Notable Investments: OYO Rooms, Byju's, Udaan.
- Eight Roads Ventures
- Details: Eight Roads Ventures is a global venture capital firm that participated in Uni's Series A round. They focus on technology and healthcare sectors.
- Investment Focus Areas: Technology, healthcare.
- Notable Investments: Not publicly disclosed.
What's Next for Uni Cards?
Uni Cards is poised to capitalize on the burgeoning demand for flexible payment solutions in India. With its flagship product, the Uni Pay 1/3rd card, the company offers a unique feature that allows users to split transactions into three parts, payable over three months without extra charges. This innovative approach positions Uni Cards to expand its customer base across over 130 cities, tapping into a large market opportunity.
Future fundraising prospects look promising, given the company's successful track record with previous rounds, including a $70 million Series A and a recent Rs 50 crore venture debt from Stride Ventures. These funds will likely fuel further growth and product development, attracting additional investment from venture capital and venture debt firms.
However, Uni Cards faces challenges such as intense competition from other fintech companies and regulatory hurdles in the financial services sector. Effective credit risk management and ensuring customer repayment will be crucial for sustaining growth and maintaining financial health.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay's platform to access comprehensive fundraising data on companies like Uni Cards and gather other critical business insights.
Sign up for free to start exploring the wealth of information available at your fingertips and gain a competitive edge in your sales efforts by visiting Clay's signup page.
