StrideOne has raised Rs 250 crores via a mix of equity, led by Elevar Equity, and debt, including top Indian banks. StrideOne offers an end-to-end digitized experience to its partners and borrowers alike.
The company has also unlocked tremendous growth momentum, becoming profitable within just 6 months of operations and accumulating an AUM of Rs 200 Cr across more than 20 anchor companies.
The company’s vision is to empower growth and scale in the Indian startup ecosystem and it plans to create more products that impact both credit and non-credit need gaps for startups and MSMEs alike. It also plans to make more tech-focused acquisitions in 2022.
Ishpreet Singh Gandhi, Founder of StrideOne, said, “The idea of StrideOne and the mission of empowering MSMEs with smartly designed, tailored credit offerings, is another significant shift in that direction. It has been a supremely gratifying journey for us already and with Elevar’s deep expertise in democratizing access to capital for underserved customer segments, we look forward to doubling down on our milestones in FY’23 and beyond.”
StrideOne leverages its team’s expertise and deep-rooted understanding of the startup ecosystem’s financing need gaps and their data on business performance and cash flows, enhancing its risk efficiency, and the anchor-led approach to lending has kept the customer acquisition cost at zero – giving the company a significant advantage.
Jyotsna Krishnan, Managing Partner, Elevar Equity, added, “In Ishpreet and Abhinav, we found two people who have deep execution experience in financial services, understand the startup ecosystem well, and are very sharp in how they have designed distribution into a massive, underserved market. They have a unique vision and a super-efficient profitable distribution model that lends itself to exponential growth. The accelerated scale displayed by StrideOne reiterates the massive opportunity waiting to be unlocked in the extended startup ecosystem and we are excited to partner with them to bring it to life.”
