IC RegFin Legal and Khaitan & Co advised on Credilio’s INR 100 crore Series A funding.
Credilio Financial Technologies Private Limited (“Credilio” / “Novio”), a UPI-first fintech platform enabling digital distribution of credit products, has raised INR 100 crore (approx. $10.5 million) as part of its Series A funding.
The round was led by Cornerstone Ventures and saw participation from Roots Ventures, Shepherd Hill, ESV-Arthya AIF among others. The round also included venture debt from Innoven Capital and Alteria Capital.
Launched in 2020 by Aditya Gupta, Sandeep Ghule and Anand Kapadia, Novio operates as a fintech platform with a focus on issuing secured credit cards for underserved borrowers. It has partnered with various banks to launch FD-backed credit cards. The funds raised will be used to scale Credilio’s UPI-first fixed deposit credit card app “novio”.
IC RegFin Legal advised Roots Ventures on the transaction.
The team comprising Partner Vartika Koolwal, Principal Associate Abhinav Gupta and Senior Associate Abhishek Singh.
Khaitan & Co advised Cornerstone Ventures Partners as lead investor and Ashra Private Equity Fund (Shepherds Hill Private Equity Trust) as co-investor.
The core team advising Cornerstone Ventures consisted of Partners Gautam Suseel and Ashutosh Sharma, Principal Associate Atif Ahmed, Senior Associate Aanchal Khandelwal, Associate Jahanvi Tuli, Principal Associate Deepali Menghwani and Senior Associate Arushi Gupta.
The core team advising Ashra Private Equity Fund consisted of Partner Tanvi Kumar, Counsel Pulkit Chaturvedi, Senior Associate Nipun Laroia and Associate Aditi Sannidhi.
The deal reporting on this platform is based on the information received from law firms, and therefore, some details may be missing/incomplete. If your firm has not been credited for this deal, write to us at chanchal.makhija@thegreymatter.co.in mentioning your firm’s name, lawyers involved (including designation) and client represented.
