INFOGRAPHIC: Top Asian Startup Funding — Week 21
These are the funding deals we tracked in the Asian region this week – including Navi Finserv, Stanza Living, Mighty Jaxx, UnifyApps, Dvara KGFS, Honest Bank
- Navi Finserv Raises $18 Million Through NCDs to Boost its Lending Services
- Stanza Living Secures $13 Million in Bridge Round to Enhance Co-Living Solutions
- Mighty Jaxx Secures $11M in Series A+ Round to Fuel US, Europe Growth
- UnifyApps Secures $11M Seed Funding Led by Elevation Capital
- Dvara KGFS Raises $10M Debt to Boost Rural Financial Services
- Honest Bank Raises $2.5M to Extend its Series B Round to $21.5M
Navi Finserv Raises $18 Million Through NCDs to Boost its Lending Services
- Navi Finserv, an Indian financial services platform, has raised $18.75 million (Rs 150 crore) through the issuance of non-convertible debentures (NCDs) from six individual investors, including key figures from the Dadachanji Group.
- According to regulatory filings, the company's board approved a special resolution to allot 15,000 NCDs at Rs 1,00,000 per debenture. Navi has previously raised $75 million (Rs 600 crore) in May 2022 and $62.5 million (Rs 500 crore) in July 2023 through similar NCD issues. It had previously filed for an IPO in late 2022, however the listing didn't proceed as planned.
- Navi Finserv provides lending and financing services, including personal loans, health insurance, and mutual funds. It plans to utilize the funds for lending, financing, loan repayments, and general corporate purposes.
Stanza Living Secures $13 Million in Bridge Round to Enhance Co-Living Solutions
- Managed accommodation provider Stanza Living has raised Rs 110 crore ($13 million) in a bridge round led by Alpha Wave with participation from Matrix Partners, Accel India, and Peak XV. This marks the first equity round for the Delhi-based startup in over three years.
- Stanza Living, the largest managed-living platform in India, provides co-living solutions for working professionals and students, boasting an inventory of over 75,000 beds across 450 residences in 24 cities. It is valued at approximately $470 million.
- Stanza Living intends to allocate the recently raised funds towards expansion initiatives and operational enhancement.
