Exclusive: Wint Wealth raises nearly $15 Mn led by Eight Roads Ventures

Debt investment aggregator platform Wint Wealth has scooped up nearly $15 million in a new round from new and existing investors. The Series A round for the Bengaluru-based company has come just four months after its seed round.

The board at Wint Wealth has passed a resolution to allot 8,753 series A CCPS at an issue price of Rs 1,28,044.76 per share to raise Rs 112 crore or $15 million, regulatory filings with the Registrar of Companies show.

Eight Roads Ventures spearheaded the new round with Rs 70 crore or over $9 million while seven other investors including Billion Brains, 3one4 Capital, Unitary Fund, Blume Ventures, AngelList, JJ Beshara Angel and Better Advisor also joined the Series A financing round.

Two-year-old Wint Wealth helps retail investors buy debt instruments like bonds. According to the filings, it will use fresh proceeds on capital expenditure, marketing and general corporate purposes.

As per Fintrackr’s estimates, Wint Wealth has been valued at around Rs 540 crore or $70 million post allotment of the Series A round.

Founded by Ajinkya Kulkarni, Abhik Patel, Shashank Chimaladari, and Anshul Gupta, Wint Wealth recently raised funds from Zerodha’s Rainmatter Capital, Kunal Shah, Vaibhav Domkundwar, Ankur Warikoo and several others in January.

Following this round, Eight Roads acquired a 13% stake in Wint Wealth followed by 3one4 Capital and Unitary Fund which control 7.01% and 6.50% holdings respectively.

Wint Wealth recorded Rs 70 lakhs topline in the fiscal year ending March 2021. During this period, it posted a loss of Rs 30 lakh. The company competes with alternative investment platforms including Grip Invest, LegalPay and Pyse and IndiaBonds among others.

Eight Roads Ventures, the lead investor of this round, had recently announced its first India-focused healthcare and life sciences fund of $250 million. The new fund will continue to focus on early- to growth-stage investments in life sciences and digital healthcare services.