Vutto has raised $7 million in its Series A funding round led by RTP Global, while SAVE Microfinance has raised $3 million in funding through non-convertible debentures.
RTP Global leads funding in Vutto
Vutto, a full-stack platform for buying and selling used two-wheelers, on Friday announced that it has raised $7 million in its Series A funding round led by RTP Global, with participation from existing investor Blume Ventures.
The new capital will strengthen Vutto’s three pillars of supply, refurbishment, and customer experience — the foundation for its expansion in NCR, followed by new territories, the startup said in a statement.
“This is a business of building a strong store-level funnel and running a low-cost operating model so that unit economics work. Our first store, launched just a year ago, is already profitable and contributing to net profits. The task ahead is to replicate that ‘one store, one box’ playbook at 1,000x scale,” added Sitaram Ankilla, co-founder, Vutto.
Founded in 2024 by Rohit Khurana (ex-Swiggy, Truebil, Shuttl) and Sitaram Ankilla (ex-Shipsy), Vutto claims to have sold 1,500 vehicles to date. Previously, Vutto had raised $1 million in seed round led by Blume Ventures, with participation from founders of Swiggy, OfBusiness, Tracxn, BatterySmart, SuprDaily, Panthera Peak Capital and other strategic angel investors.
SAVE Microfinance secures $3m
SAVE Microfinance, part of the SAVE Group, has raised $3 million in funding through non-convertible debentures (NCDs) from Impact Investment Exchange’s (IIX) women’s livelihood bond 7 (WLB7).
The investment will enhance SAVE Microfinance’s mission of supporting underserved communities, particularly women from low-income households, by providing access to affordable credit and livelihood opportunities.
The proceeds will be directed towards strengthening financial resilience, expanding responsible lending, and promoting financial literacy among women entrepreneurs, per a company statement.
SAVE Group, which offers financial services in rural areas through its subsidiaries, raised $13 million in funding from international asset management firms Incofin and Maj Invest last May.
