Latest News | InPrime Finserv Raises Rs 50 Crore

New Delhi, Jul 7 (PTI) Non-banking financial company InPrime Finserv has raised Rs 50 crore in a funding round led by Pravega Ventures.

The fresh funds will be used to scale the company's operations into deeper geographies, the company said in a statement.

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"Over the next 12 months, the company aims to expand its footprint to around 50 locations, resulting in a presence across Karnataka, Uttar Pradesh, Rajasthan, and Haryana.

"InPrime will strengthen its existing product suite, deepen distribution through diverse channels...and make a focused foray into secured lending. The company also plans to explore strategic co-lending partnerships to scale and diversify its capital base," it said.

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The round also saw participation from existing investors Z47, InfoEdge Ventures, and Kettleborough VC.

*** WiseLife raises Rs 8 crore * Fitness and wellness products company WiseLife has raised Rs 8 crore in funding from Rukam Capital and plans to use the funds to scale operations and expand the supply chain.

Shark Tank India Season 3 fame WiseLife earlier secured funding from boAt Co-Founder Aman Gupta, Shaadi.com CO-Founder and CEO Anupam Mittal, OYO Rooms Founder and CEO Ritesh Aggarwal, and Emcure Pharmaceuticals Executive Director Namita Thapar.

"The current funding round will help us scale WiseLife from a boutique brand to India's No. 1 yoga brand. We will be able to do a lot more experimenting and develop even better products and content for the yoga and fitness enthusiasts,” Prateek Kedia, Founder of WiseLife, said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)