Total amount raised
$25.8 Million
Latest funding date
06/01/2022
Location
WeRize has successfully raised funding through three rounds, with notable investors including Picus Capital and Sony Innovation Fund. The platform is India's first socially distributed full-stack financial services provider, catering to the financial needs of small-town families.
Keep reading to explore the intricacies of WeRize's fundraising journey and the investors backing this innovative platform.
What Is WeRize?
WeRize, based in Bangalore, Karnataka, India, is a pioneering financial services platform targeting small-town families. The company operates in various sectors, including banking, credit cards, fintech, insurtech, lending, and personal finance. With a workforce of 501-1000 employees, WeRize is making significant strides in the financial industry.
Founded with the mission to create a socially distributed full-stack financial services platform, WeRize offers a range of products such as personal loans, business loans, and insurance. The company has successfully raised funding from notable investors like Picus Capital and Sony Innovation Fund, positioning itself as a key player in the financial services landscape.
How Much Funding Has WeRize Raised?
- Seed Round
- Amount Raised: $2,250,000
- Date: January 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the initial growth and development of the platform.
- Series A Round
- Amount Raised: $8,000,000
- Date: September 2021
- Lead Investors: 3one4 Capital, Kalaari Capital, Orios Venture Partners, Picus Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business and enhance its financial services platform.
- Series B Round
- Amount Raised: $15,500,000
- Date: June 2022
- Lead Investors: 3one4 Capital
- Valuation at Round: $115,000,000
- Motivation Behind the Round: To expand WeRize's platform by onboarding 50,000 freelance consultants and increasing market reach.
Total Amount Raised: $25,750,000. Current Valuation: $115,000,000.
Key Investors
- 3one4 Capital
- Details: 3one4 Capital is a venture capital firm that led the Series B funding round for WeRize, investing $5.031 million. The firm is known for its focus on early-stage investments in India.
- Investment Focus Areas: Technology, Financial Services, Consumer Products
- Notable Investments: Licious, Darwinbox, Betterplace
- Kalaari Capital
- Details: Kalaari Capital is a venture capital firm that participated in the Series A and Series B funding rounds for WeRize. The firm has a strong presence in the Indian startup ecosystem.
- Investment Focus Areas: Technology, E-commerce, Healthcare
- Notable Investments: Dream11, CureFit, Urban Ladder
- Orios Venture Partners
- Details: Orios Venture Partners is a venture capital firm that invested in the Series A and Series B funding rounds for WeRize. The firm focuses on early-stage investments in India.
- Investment Focus Areas: Fintech, Consumer, SaaS
- Notable Investments: Pharmeasy, GoMechanic, Zupee
- Picus Capital
- Details: Picus Capital is a venture capital firm that participated in the Series A and Series B funding rounds for WeRize. The firm is known for its global investment strategy.
- Investment Focus Areas: Fintech, Proptech, Healthtech
- Notable Investments: Razorpay, Scalable Capital, Personio
- Sony Innovation Fund
- Details: Sony Innovation Fund is a corporate venture capital arm of Sony Corporation that invested in the Series B funding round for WeRize. The fund focuses on innovative startups across various sectors.
- Investment Focus Areas: Technology, Entertainment, Healthcare
- Notable Investments: Miso Robotics, Axioma, Cogitai
What's Next for WeRize?
WeRize is poised for significant growth, with plans to expand its reach to over 4,000 small towns in India, targeting 300 million middle-class customers. The company aims to onboard 50,000 freelance consultants and develop new financial products tailored to underserved markets. This expansion presents a substantial opportunity to double revenues every six months and achieve an annualized revenue run-rate of $10 million.
Future fundraising opportunities are likely, given the company's profitability and growth trajectory. Existing and new investors are expected to continue their support, enabling WeRize to scale operations and enhance its technology platform. The company's valuation of $115 million underscores its potential to attract further investment.
However, WeRize may face challenges such as maintaining profitability while scaling, managing a large network of freelance consultants, and competing with other financial service providers. Ensuring the technology platform can handle increased demand and navigating regulatory requirements will also be critical as the company continues its ambitious growth plans.
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