Dovetail Capital has raised nearly $10.5 million (Rs 100 crore) in its Series A funding round, while Finkurve Financial Services Limited has raised nearly $5.3 million through issue of non-convertible debentures (NCDs).
Elev8 leads Series A funding in Dovetail
Dovetail Capital, an independent asset-servicing firm, has raised nearly $10.5 million (Rs 100 crore) in its Series A funding round Elev8 Venture Partners.
The round comprised a combination of primary and secondary capital, marking the company’s first institutional fundraise since its inception in 2017.
Dovetail Capital will use the proceeds for expansion of global business.
“When we started Dovetail, asset servicing in India sat almost entirely inside the large banks, the very institutions that also ran asset management, wealth management, and broking. We believed Indian investors, just like their global counterparts, deserved an independent, technology-first partner with no competing agenda. This first institutional round, led by Elev8, validates that conviction and the team that has built on it,” said Dev Sampat, co-founder of Dovetail Capital.
Mumbai-headquartered Dovetail Capital services assets worth over $4.5 billion.
Finkurve Financial raises $5.3m
Finkurve Financial Services Limited, the operator of gold loan NBFC Arvog, has raised nearly $5.3 million (Rs 50 crore) through a non-convertible debenture (NCD) issuance from Franklin Templeton to support its next phase of growth and business expansion.
The funding is being executed in two tranches, with the first tranche of Rs 24 crore successfully completed, while the second tranche will be completed in due course, it said in a statement.
The capital raised will be utilised to accelerate the company’s growth strategy by expanding its lending business, strengthening its operational footprint, enhancing its technology-driven platform, and deepening its presence across existing and new markets. The investment will also support business expansion and strengthen the company’s capital base.
