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Sequoia India and others invest $9 million in MoneyTap

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Consumer lending Fintech startup MoneyTap has raised $9 million from Sequoia India in a Series A funding round. The round also saw participation from existing investors New Enterprises, and Prime Venture Partners, taking the total capital raised by the company to $12.3 million.

This Bengaluru-based startup was founded in 2015 by Bala Parthasarathy, Anuj Kacker, and Kunal Varma. The main aim of this platform is to deliver small loans to salaried employees and self-employed individuals through its app available on Android devices. The loans range from Rs. 3000 to Rs. 500,000 and are charged 15% -19% minimum interest rate.

At present, the startup is partnered with RBL and is in talks with six other banks with a presence in 14 cities across India. The latest investment will be used to increase the number of cities they operate into 50 and hire more people to form a new science data teams. The capital will also be used to improve the technology to incorporate a unified payment interface (UPI) and hopes to disburse credit worth Rs. 300 crore by March 2018.

Speaking about MoneyTap Bala Parthasarathy compared their services to traditional loans given by banks. He said MoneyTap offers a consumer line of credit wherein they have approved a limit and can avail the loan at any time. Apart from a small fee for setting up your account initially, MoneyTap lets consumers borrow money at any given time.

Speaking about their investment, Abheek Anand a principal at Sequoia Capital India Advisors, said MoneyTap is able to address a massive market opportunity with the help of an experienced team and a designed product.

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Funding

Phab Raises $2M Seed Funding to Expand Healthy Snacking Brand

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PHAB

Phab, the D2C healthy snacking brand co-founded by Ankit Chona of ice cream brand Hocco and his wife Gayatri Chona, has raised $2 million (around ₹17 crore) in a seed funding round led by OTP Ventures, with participation from Capri Global, Sim&San law firm, and angel investors.

Founded in 2018, phab offers protein bars and healthy milkshakes, leveraging Ankit’s decade-long food industry experience and Gayatri’s expertise as a certified nutritionist. The brand has sold over 2 million units and sells through e-commerce and quick commerce platforms like Amazon, Flipkart, Zepto, and Blinkit.

Despite a 12% dip in operating revenue to ₹5 crore in FY24, phab trimmed its net loss by nearly 3% to ₹6.8 crore, showing improved efficiency.

The new funds will be used to expand the team, invest in production capacity, and grow phab’s presence across digital, quick commerce, and offline channels. The brand competes with Yoga Bar, Beyond Snack, and The Whole Truth in India’s growing $68 billion healthy snacking market. OTP Ventures’ founding partner Suhail Sameer praised phab’s bold, differentiated approach and the founders’ vision, signaling strong investor confidence in the brand’s growth potential.

 

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Eat Better Secures ₹17 Crore in Pre-Series A Funding

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Eat Better, a Jaipur-based D2C snacking brand, has raised ₹17 crore in a Pre-Series A funding round co-led by Prath Ventures and Spring Marketing Capital. Founded by Vidushi Kanoria, Mridula Kanoria, and Shaurya Kanoria in 2020, Eat Better specializes in healthy snacks like dry fruit ladoos and nuts.

Key Highlights:

  • Investment Use: Funds will expand Eat Better’s product line and enhance its presence on quick commerce platforms.
  • Market Position: Competes with brands like Happilo and Yoga Bar in the healthy snacking space.
  • Operational Milestones: Fulfills over 2 lakh orders monthly.
  • Financial Performance: Revenue grew nearly threefold to ₹14.47 crore in FY24, with a reduced net loss.

Market Opportunity:

The Indian food and beverages market is projected to reach $68 billion by 2030, positioning Eat Better favorably to capitalize on the demand for healthy snacks. With this funding, Eat Better aims to strengthen its market presence and product offerings.

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Outzidr Raises ₹30 Crore to Transform Gen Z Fashion

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Bengaluru-based D2C fashion startup Outzidr, co-founded by Nirmal Jain, Mani Kant Mani, and Justin Mario, has secured ₹30 crore in seed funding led by Stellaris Venture Partners, with participation from angel investors like Ramakant Sharma (Livspace) and Ghazal Alagh (Mamaearth).

Launched in February 2025, Outzidr targets Gen Z women aged 17–27 with affordable occasion-specific apparel such as partywear and travel outfits. The brand introduces over 2,000 new designs monthly and uses a “test-and-react” model to scale popular styles based on early sales data. With an agile inventory cycle of less than three weeks, it plans to shift 90% of manufacturing to India within two years for sustainability.

The funds will bolster supply chain efficiency, technology development, team expansion, and brand-building. Outzidr aims to achieve ₹100 crore annualized revenue within 6–8 months through its D2C platform and marketplaces like Myntra, Nykaa Fashion, and AJIO.

Led by industry veterans with expertise in fashion and logistics, Outzidr is poised to capitalize on India’s growing D2C market fueled by Gen Z’s demand for trendy and affordable fashion.

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