WeRize, a Bengaluru, India-based socially distributed financial services platform, raised USD8M in Series A funding.
The round was led by 3one4 Capital, Kalaari Capital, Picus Capital and Orios Venture Partners.
The company intends to use the funds to accelerate growth and expand operations.
Led by Vishal Chopra and Himanshu Gupta, WeRize develops and distributes a portfolio of customized credit, group insurance and savings products. The company is already operationally profitable and is on target to become EBITDA positive by early 2022. It currently caters to customers in 1000+ cities and towns and plans to reach 4000+ towns in the next 2 years through its social distribution tech platform that will have over 50,000 freelance financial consultants across India.
FinSMEs
08/09/2021