Troo Good Raises Rs 72 Crore, BASIC Home Loan Secures Rs 87.5 Crore in New Funding Rounds
In a promising boost for two distinct sectors, Hyderabad-based snack brand Troo Good and Gurugram-based fintech startup BASIC Home Loan have collectively raised Rs 159.5 crore (approximately $19.2 million) to fuel their growth and market expansion.
Troo Good, known for its millet-based snacks, has secured Rs 72 crore (approximately $8.6 million) in a funding round led by Oaks Asset Management, with additional participation from Puro Wellness and V Ocean Investments. The funding was finalized after the company’s board passed a resolution to issue 10,176 equity shares, according to regulatory filings accessed by Entrackr.
Oaks Asset Management contributed Rs 37 crore, while V Ocean Investments and Puro Wellness invested Rs 10 crore and Rs 25 crore, respectively. Troo Good plans to utilize the funds to meet its working capital needs, ensuring sustained growth in its production and distribution.
Founded in 2018 by Raju Bhupati, Troo Good specializes in producing millet-based snacks such as chikkis, protein bars, and nutri bars. The company claims to sell over 2 million snacks daily. Following this funding, Oaks Asset Management will hold 28.89% of the company, while Puro Wellness and V Ocean will command 7.75% and 14.28% stakes, respectively.
This round brings Troo Good’s total raised funds to Rs 132 crore. The company was previously valued at Rs 322 crore ($38 million) post-allotment.
Meanwhile, fintech startup BASIC Home Loan raised Rs 87.5 crore (approximately $10.6 million) in a Series B funding round led by Bertelsmann India Investments (BII) and CE-Ventures, the venture capital arm of Crescent Enterprises. Additional investors in this round included Ashish Kacholia, Gruhas, Let’s Venture, 9Unicorns, and Venture Catalysts. Dexter Capital acted as the exclusive advisor for the deal.
Founded in 2020 by Atul Monga and Kalyan Josyula, BASIC Home Loan operates a tech-driven mortgage marketplace, streamlining the home loan process for borrowers, particularly in tier-2 and tier-3 cities. The company plans to use the new funds to expand its market presence, enhance its technology stack, and introduce new financial products.
BASIC Home Loan has disbursed over $1.1 billion in loans through its lender network and processed applications worth more than $12 billion. With 15,000 agents in 30 cities, the startup aims to improve access to affordable home loans for underserved customers, leveraging its First Loss Default Guarantee (FLDG) risk-sharing business model with lenders.
Rohit Sood, partner at Bertelsmann India Investments, noted, “BASIC Home Loan is revolutionizing the home loan experience, especially for low-income borrowers in tier II and III cities.”
Troo Good and BASIC Home Loan are each making waves in their respective industries, with fresh funding poised to accelerate their growth and market leadership.