India Deal Monitor: responsAbility AG backs Ess Kay Fincorp and more updates

Commercial vehicle financier Ess Kay Fincorp Ltd has raised about $11.7 million (Rs 86 crore) in debt funding from Swiss asset manager responsAbility AG, per an announcement.

The debt was raised in the form of non-convertible debentures (NCDs) via the voluntary retention route (VRR), which was introduced by the Reserve Bank of India in 2019 to enable foreign portfolio investors with a new channel to undertake long term investments in the Indian debt capital market.

The transaction was facilitated by CredAvenue, the online enterprise debt platform operated by Vivriti Capital.

The fund raised from responsAbility will be used for further on-lending to its customers, Ess Kay said adding that it aims to provide sustainable financing solutions that not only empower its customers in the commercial vehicle segment but also help small CV owners graduate into small road transport operators.

Jaipur-based Ess Kay operates through a network of 313 branches in six states across north and western India, with more than 2.25 lakh customers.

INDIA DEAL MONITOR

Here are some prominent venture capital transactions in India for March 2-March 4.

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)Sector
Chqbook.comGurugram5 millionSeries AAavishkaar Capital-FinTech
TerraPayNetherlands9.6 million-Prime Ventures, Partech Partners, International Finance Corporation (IFC)-FinTech
TricogBengaluru10.5 millionSeries BUTEC – The University of Tokyo Edge Capital, Aflac Ventures, LLC, Dream Incubator, TeamFundInventus Capital, Blume VenturesHealthTech
BounceBengaluru6.5 millionDebtInnoVen Capital-Transportation
Leap FinanceBengaluru5.5 million-Sequoia IndiaBhupinder Singh (Incred), Kunal Shah (Cred)FinTech
TrellBengaluru4 millionPre-Series ASequoia Capital India’s Surge, Fozun RZ Capital, KTB NetworkBeenext, WEH Ventures, Sprout VenturesConsumer Internet
gogoBusNew Delhi--ixigoRajesh Sawhney, Abhishek SharmaTransportation
Ess Kay FincorpJaipur11.7 million-responsAbility AG-Financial Services
Sleepy OwlDelhi--Rukam Capital, DSG Consumer PartnersAngelList IndiaFood & Beverage
F5New Delhi-SeedLetsVenture (Singularity, Mohit Satyanand, Varun Laul, Tres Ventures, Huddle, and Startup Buddy)-Retail

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.