Prayaan Capital Private Limited has raised ₹110 crore ($12.1million) from a Series A fundraise led by Peak XV Partners.
VERTICES PARTNERS advised Prayaan Capital on this fundraise.
The transaction was led by Vinayak Burman (Founder and Managing Partner) and Manu Varghese (Partner), along with a team that included Shagun Rathi (Senor Associate) and Associates Srishti Singh and Stuti Jain.
Cyril Amarchand Mangaldas advised Peak XV Partners on this fundraise. The Firm's role involved, structuring the transaction, documentation, negotiations, legal due diligence, transaction execution and closing.
The transaction was led by Anu Tiwari (Partner, Head – Fintech and Financial Services) and Bhargav Joshi (Partner), with support from Jemima Chelliah (Senior Associate).
The due diligence was led by Bhargav Joshi (Partner), Jemima Chelliah (Senior Associate), and Associates Saumya Sharma, Vidisha Sharma, and Arushi Kankariya.
The funds will be used by Prayaan Capital to build a lending platform, expand its team, and grow its presence across key MSME markets in India. The company plans to focus on loans to micro, small and medium enterprises (MSMEs), a segment that continues to face a large funding shortfall.
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