Funding · Financial Services
WeRize raises Rs 64 crore led by Sony Innovation Fund
By Startup Enthusiast ·
- Date
- Company
- WeRize
- What it does
- Sells credit, insurance, savings products
- Kind
- Funding
- Amount
- Rs 64 crore
- Founded
- 2019
- Sector
- Financial Services
What they do
WeRize sells customized credit, insurance, and savings products to 300 million individuals across over 4,000 tier II to IV towns
What happened
The company is raising Rs 64 crore via convertible equity, led by Sony Innovation Fund with Rs 46 crore; 3one4 Capital invests Rs 18 crore
Why it matters
Operating revenue grew 64% to Rs 236 crore in FY25, and profit doubled to Rs 10 crore
The details
- WeRize is raising Rs 64 crore (about $6.9 million) via convertible equity (a type of investment that converts into shares later).
- The round is led by Sony Innovation Fund, which is infusing about Rs 46 crore.
- Existing investor 3one4 Capital is participating with Rs 18 crore.
- The company is issuing 10,150 convertible equity at a face value of Rs 63,272.50 each, aggregating to Rs 64 crore.
- The funds will be used for general operations, working capital, capital expenditures, and business expansion.
- This fundraise is via convertible equity, not NCDs (non-convertible debentures, a type of loan).
The bigger picture
- WeRize's operating revenue grew 64% to Rs 236 crore in FY25 from Rs 144 crore in FY24.
- Profit doubled to Rs 10 crore in FY25 from Rs 5 crore in FY24.
- The company previously raised $15.5 million in June 2022 at a $115 million valuation from British International Investment, Sony Innovation Fund, and existing investors.
About the business
- WeRize sells and distributes customized credit, insurance, and savings products.
- It targets 300 million individuals across over 4,000 tier II to IV towns in India.
What happens next
- Use the funds for general operations, working capital, capital expenditures, and business expansion.
The deal
- Type
- funding
Investors
- Sony Innovation Fund (lead) — A venture capital fund backed by Sony, investing in technology startups.
- 3one4 Capital (participated) — An existing investor in WeRize, a venture capital firm.
Founders
- Vishal Chopra, Co-founder
- Himanshu Gupta, Co-founder
About WeRize
- Product
- Full-stack fintech marketplace offering customized credit, insurance and savings products
- Customers
- Lower and middle-class families in small-city India seeking accessible financial services
- How it makes money
- B2B2C social distribution model with freelance financial consultants as intermediaries
- What sets it apart
- Proprietary AI and social distribution network reaching 50 lakh underserved consumers
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