Indiagold Raises $10 Mn In Series A Funding Round

Indiagold raises $10 Mn in extended Series A Funding round. It is a startup that provides loans for digital and physical gold

Indiagold raises $10 million in an extended series A funding round. It saw the participation of existing investors including Alpha Wave, 3one4 Capital, PayU and Leo Capital. It is a startup that offers gold loans, digital gold and others.

According to the media reports, the board at India gold has passed a special resolution to allot 5,323 series A1 compulsory convertible preference shares (CCPS) at an issue price of Rs 1,45,600 per share to raise Rs 77.5 crore or nearly $10 million.

Alpha Wave led the round with Rs 38.76 crore followed by 3one4 Capital which invested Rs 19.38 crore. PayU FIntech investment and Leo Capital also joined in and invested Rs 11.62 crore and Rs 7.75 crore respectively.

It was founded by Deepak Abbot and Nitin Mishra both former Paytm executives. India gold has a locker service through which it provides loans for Physical and digital gold. The customers also have an option of insurance coverage for their lockers.

Tags assigned to this article:

Around The World