Main enterprise debt agency, Stride Ventures, on Wednesday introduced a debt spherical of ₹50 crore in Uni, a new-age fintech firm.
The enterprise debt fund is targeted on offering debt options to new-age startups. With this debt spherical, Stride Ventures goals to be a strategic accomplice within the model’s journey of disrupting the fintech panorama by offering first-to-category options and merchandise customised for particular person wants.
Uni was based by Nitin Gupta, Prateek Jindal and Laxmikant Vyas who beforehand held management positions in giant fintech and monetary companies organisations backed by appreciable expertise in merchandise like pay later and bank cards. The crew launched their flagship product, Uni Pay 1/third Card, in June 2021. The cardboard mechanically splits each transaction into 3 components to be paid over 3 months for no further costs.
Nitin Gupta, founder and CEO, Uni stated “At Uni, we purpose to offer customised options to completely different client segments. With the Pay 1/third card we’re addressing the necessity for flexibility whereas offering a wealthy buyer expertise that’s minimize above the remainder. Whereas there is no such thing as a dearth of demand for credit score merchandise in India, matching the fitting buyer profile with the fitting product is essential to construct a sustainable enterprise. With a deep understanding of credit score threat now we have ensured the fitting fundamentals are baked into every of our merchandise. The debt spherical from Stride Ventures is a vote of confidence that the market has in us and our enterprise mannequin”
Common Catalyst, Eight Roads and Elevation Capital led Uni’s $70M collection A spherical in December together with the present traders Lightspeed and Accel. Uni is at the moment current in over 130 cities throughout India, together with all main cities like Delhi, Mumbai, Hyderabad, Bengaluru, Pune, Chennai, Kolkata, Ahmedabad, Lucknow, and Jaipur, stated the agency.
Ishpreet Singh Gandhi, founder & managing accomplice, Stride Ventures, stated “We’re delighted to accomplice with Uni on their mission to alter the best way folks work together with credit score. Nitin and the crew working behind Uni have a deep understanding of the fintech ecosystem which they’ve utilised to create a properly differentiated and extremely versatile credit score options product within the type of the Pay 1/third card.”
Supply: Live Mint