A password will be e-mailed to you.

Google-Backed Dunzo Raises about $1 Mn in Debt from Alteria Capital

Dunzo, the Bangalore-based daily task management startup, has now raised $1 million, i.e., Rs 7 crore in the debt funding from the venture debt firm Alteria Capital, according to a report.

The funds were raised by issuing non-convertible debentures. The newly acquired funds are going to be mainly used for general corporate purposes and also to expand Dunzo’s service offerings.

Founded by Dalvir Suri, Kabeer Biswas, and Ankur Agarwal in the year 2015, the startup provides an app platform that equips its users to create different tasks and track the progress of the tasks along with easy payment method.

The wide range of services provided by the startup includes paying bills,  getting car services, getting phones repaired, getting groceries,  picking up the laundry, and a few of the other household tasks.

At present, Dunzo operates in Bangalore, Delhi, Chennai, Gurgaon, and Pune. In FY 2017, it posted a turnover of Rs. 98.5 lacs, a substantial rise from mere Rs. 71,000 in FY 2016.

The startup also raised $12.3 million in December 2017 in a funding round, which was led by Google. Apart from Google, Blume Ventures and Aspada participated in the funding round.

Picture Credits: Entracr



Send this to a friend