IPO-bound Captain Fresh to secure debt from Trifecta

B2B seafood marketplace Captain Fresh is set to raise Rs 30 crore in debt funding from Trifecta Ventures ahead of its public listing.

The company will issue 3,000 Series B5 non-convertible debentures to Trifecta Ventures Debt Fund for the aforementioned sum, according to its regulatory filings sourced from the Registrar of Companies (RoC).

Founded in 2019, Captain Fresh is a tech-led, vertically integrated global powerhouse of multi-species seafood brands.

This debt infusion comes on the heels of its Rs 250 crore (around $30 million) raise in an ongoing pre-IPO funding round.

Financially, Captain Fresh reported a 71% jump in gross revenue (GMV) to Rs 1,395 crore in FY24 from Rs 817 crore in FY23. The company also narrowed its net loss by 22% to Rs 229 crore during the same period.

Captain Fresh is preparing to file for its IPO by the end of this year. As per media reports, the company has appointed Axis Capital and BofA as bankers for a proposed IPO worth $350-400 million.