Dugar Finance raised $18 million in debt led by Symbiotics, while Bengaluru-based wealthtech startup PowerUp Money secured $12 million in a Series A round led by Peak XV Partners.
Symbiotics leads $18m debt round in Dugar Finance
Dugar Finance & Investments Limited, an impact-led secured MSME lender, has raised $18 million (about Rs 160 crore) in debt funding led by Swiss-based impact investor Symbiotics, per an announcement.
The round also saw participation from Indian banks, including Union Bank of India, Karur Vysya Bank, Indian Overseas Bank, Tamilnad Mercantile Bank, and STCI Finance, among others.
Symbiotics invested $5.5 million in the latest round, taking its total exposure to Dugar Finance to $8.5 million, including a previously subscribed $3 million green bond.
While the earlier funding supported electric vehicle and other sustainable lending programmes, the latest investment will be used to strengthen Dugar Finance’s secured MSME lending portfolio and support its expansion into Tier-2 to Tier-6 markets across India.
Dugar Finance currently operates across six states, serving semi-urban and rural customers. Its portfolio includes income-generating secured MSME loans and commercial vehicle loans, supporting micro-entrepreneurs, small businesses, and first-time commercial vehicle drivers who have historically faced limited access to formal credit.
PowerUp Money raises $12m led by Peak XV
PowerUp Money, a mutual fund advisory wealthtech platform headquartered in Bengaluru, has raised up to $12 million in a Series A funding round led by Peak XV Partners, the company said.
Founded in 2024, the startup also saw participation from existing investors Accel, Blume Ventures and Kae Capital, along with continued backing from 8i Ventures and DevC.
The fresh capital will be used to strengthen PowerUp Money’s research and advisory capabilities, scale its PowerUp Elite offering, launch PowerUp Infinite, and invest in financial literacy and investor education initiatives.
PowerUp Money is building a platform that gives people easy access to research-based mutual fund advice without charging commissions. As a SEBI-registered advisor, it focuses on recommendations that help investors grow their money over the long term.
