Fintech startup Credilio has raised around Rs 30 crore (approximately $3.3 million) in its Series A round led by existing investor Cornerstone Ventures, with participation from Ashra Private Equity Fund.
The company’s board has passed a resolution to allot 2,481 compulsory convertible cumulative preference shares (CCCPS) at an issue price of Rs 1,20,880 per share to raise the aforementioned amount.
Cornerstone Ventures led the round with an investment of Rs 20 crore, followed by Ashra Private Equity Fund, which infutilized Rs 10 crore. According to Entrackr’s estimates, Credilio’s valuation has jumped 2.7X to Rs 330 crore (approximately $36.5 million) post-money, compared with its last seed round, which was at Rs 120 crore valuation.
According to the filing, the proceeds from the issue will be utilized for growth, expansion, and general corporate purposes. The company may raise additional capital as the round progresses.
Following the latest proceeds, Cornerstone Ventures and Ashra Private Equity Fund hold 17.90% and 3.03%, respectively, on a fully diluted basis. Its cofounders, Aditya Gupta, Anand Kapadia, and Sandeep Ghule hold 12.21% each in the company.
Mumbai-based firm had previously raised $4 million (around Rs 30 crore) in its pre-Series A round from Cornerstone Venture Partners Fund (CSVP Fund), Exfinity Venture Partners, and Param Capital founder Mukul Agarwal in his personal capacity.
Founded in 2020 by Aditya Gupta, Sandeep Ghule, and Anand Kapadia, Credilio is a digital platform that connects financial advisors, lfinishers, and consumers, enabling seamless distribution of credit cards and loan products.
Credilio reported flat revenue at Rs 79.79 crore in FY25 compared to Rs 79.67 crore in FY24, while its losses declined slightly to Rs 19.35 crore in the same period.
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