InPrime Finserv raises Rs 50 crore

New Delhi, Jul 7 (PTI) Non-banking financial company InPrime Finserv has raised Rs 50 crore in a funding round led by Pravega Ventures.

The fresh funds will be used to scale the company's operations into deeper geographies, the company said in a statement.

"Over the next 12 months, the company aims to expand its footprint to around 50 locations, resulting in a presence across Karnataka, Uttar Pradesh, Rajasthan, and Haryana.

"InPrime will strengthen its existing product suite, deepen distribution through diverse channels...and make a focused foray into secured lending. The company also plans to explore strategic co-lending partnerships to scale and diversify its capital base," it said.

The round also saw participation from existing investors Z47, InfoEdge Ventures, and Kettleborough VC.

*** WiseLife raises Rs 8 crore * Fitness and wellness products company WiseLife has raised Rs 8 crore in funding from Rukam Capital and plans to use the funds to scale operations and expand the supply chain.

Shark Tank India Season 3 fame WiseLife earlier secured funding from boAt Co-Founder Aman Gupta, Shaadi.com CO-Founder and CEO Anupam Mittal, OYO Rooms Founder and CEO Ritesh Aggarwal, and Emcure Pharmaceuticals Executive Director Namita Thapar.

"The current funding round will help us scale WiseLife from a boutique brand to India's No. 1 yoga brand. We will be able to do a lot more experimenting and develop even better products and content for the yoga and fitness enthusiasts,” Prateek Kedia, Founder of WiseLife, said. PTI ANK ANK SHW