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Flexmoney, Pilgrim and Wherehouse.io receive fresh cheques

Flexmoney, Pilgrim and Wherehouse.io receive fresh cheques
Photo Credit: VCCircle
15 Jun, 2021

Flexmoney, a full-lifecycle digital credit network platform for lenders and merchants, has raised $4.8 million (Rs 35.2 crore) in its Series A funding round led by Pravega Ventures.

The round also saw participation from Silicon Valley-based Z5 Capital along with several marquee individual investors, the company said in a statement.

Flexmoney aims to use the funds to scale its credit network footprint to many more lenders and merchants, as well as launch multiple additional products, it said in a statement.

The Mumbai-based company had previously raised seed funding from multiple global and domestic angel investors.  

Founded in 2015 by Yezdi Lashkari, Flexmoney’s vision, according to the statement, is to simplify and democratise consumer credit, by enabling trusted banks and NBFCs to easily offer digital credit lines to their customers.  

Pilgrim

Mumbai-based direct-to-consumer (D2C) beauty and personal care brand, Pilgrim, has raised $1.7 million (Rs 13 crore) in its Series A funding round. 

The round was led by Fireside Ventures, Rukam Capital, and founding teams of Boat, NoBroker, and the founder- CEO of Bewakoof.com, the company said in a statement.

Dexter capital acted as the transaction advisor.

The capital raised will be used for enhancing R&D capabilities, team expansion and brand investments.

Pilgrim was launched in May 2020 by Anurag Kedia and Gagandeep Makker. The company claims to have witnessed an average run rate (ARR) of Rs 18 crore and is planning to expand its team by 50% in the next 6 months.   

Wherehouse.io

Delhi-based Wherehouse.io has raised an undisclosed amount in seed capital led by Better Capital.

Besides Better Capital, Java Capital, Titan Capital (Snapdeal Founders), First Cheque, and Upsparks also participated in the round.

Founded by Vaibhav Chawla, Jeevan Prakash and Lavelesh Sharma, in October 2020, Wherehouse.io helps D2C brands to predict and place inventory across a wide network of flexible warehouses and offer last-mile connectivity to deliver their products to their customers.

Wherehouse.io claims to have scaled a network of 2,500 warehouses 12 plus cities.  

“Wherehouse.io is built on the core values of control, visibility and delight, enabling brands to design an end-to-end brand experience while owning the data and customer relationship. With Covid induced lockdowns in the last few months, each and every brand is looking for a way to build reach and scale. This has resulted in a healthy seller acquisition for us the last four-five months,” Chawla said.