WeRize raises $ 15.5 million

WeRize, the Country’s top full-stack financial advisory platform focused on small-town India, recently announced that they had raised USD 15.5 million.

WeRize, a full-stack financial advisory platform focused on small-town, recently announced that they had raised $ 15.5 million (Rs. 120 crores) from new investors, British International Investment (BII). BII is UK’s development finance and impact investor – formerly known as CDC group, Sony Innovation Fund, and existing investors 3one4 Capital, Kalaari Capital, Picus Capital, and Orios Venture Partners. 

The investment will ramp up growth by developing new financial products for the customers, expanding and improving the technology platform, and onboarding freelancers in the 1000+ new towns it plans to enter. The company has reached a total of USD 25.75 million in this round.

“We are excited and proud to have large investors like British International Investment and Sony Innovation Fund back us in the new round along with the faith reposed by all our existing investors. Our unique full-stack approach where we manufacture and socially distribute financial services for underserved customers has helped us achieve rapid scale while maintaining solid unit economics. We have reached a $10Mn+ revenue run-rate while doubling our revenues every six months and are just a few months away from being EBITDA positive at the group level. These funds will further help in doubling down in our mission to profitably provide financial services to the underserved customers in 4000+ small cities of India,”

Vishal Chopra & Himanshu Gupta, Co-founders of WeRize.

WeRize, established in 2019 by Vishal Chopra and Himanshu Gupta, is creating India’s biggest full-stack financial services company for 300 million underprivileged middle-class customers living in India’s 4000+ small towns. WeRize provides unique Credit, Savings, and Group Insurance products for this customer base while retaining their needs, requirements, and purchasing power to add another layer of financial stability to their lives.

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