Magma Raises USD 5 Million, Vivriti Capital Secures Guarantee, Belstar Launches Gold Loans

Mumbai, Apr 16 (PTI) Industrial solutions provider Magma on Wednesday announced a USD 5-million fundraise in a round led by Capria Ventures.

Existing investors General Catalyst, Accion Venture Lab, and WEH Ventures also participated in the round, and the money raised will be deployed for expansion activities and tech investments, as per a statement.





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Vivriti Capital secures partial credit guarantee from GuarantCo on its Rs 200-cr NCDs

* Vivriti Capital on Wednesday said it has secured a partial credit guarantee from GuarantCo on its recently issued Rs 200 crore of non-convertible debentures, claiming to be the first non-bank lender to manage such support.


GuarantCo' maximum guarantee cover is 65 per cent of the principal value initially, and with no interim utilisation, this guarantee progressively extends to 100 per cent of the outstanding principal by the 27th month, as per a statement.





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Belstar Microfinance launches gold loan services

* Muthoot Finance subsidiary Belstar Microfinance on Wednesday said it has launched its gold loan services.

It opened five branches in Tamil Nadu, Karnataka, Andhra Pradesh, and Telengana to undertake the activity, it said in a statement.