StrideOne raises Rs 250 cr to help startups meet financing needs

Financial services platform for startups StrideOne on Tuesday said it has raised Rs 250 crore via a mix of equity (led by Elevar Equity) and debt from banks.

StrideOne, founded by venture debt fund Stride Ventures, introduced a startup-led credit distribution model for their supply chains and crossed AUM (asset under management) mark of Rs 200 crore in six months of inception across more than 20 anchor companies.

It aims to reduce technological and financing gaps by leveraging the startups’ existing ecosystem (vendors, suppliers) to provide credit related and other financial products such as tie-up finance, personal loans, etc.