Ascend Capital bags ₹50 crore in Series A, plans to hire 500 as it targets ₹300 crore AUM
Feb 21, 2024•almost 2 years ago
Amount Raised
$50 Million
Round Type
series a
JaipurFinancial ServicesInvestors
Asha VenturesInfo Edge Ventures
Description
Ascend Capital has successfully closed its Series A funding round, securing ₹50 crore in Equity Capital led by InfoEdge Ventures and Asha Ventures. The funding will be used to bolster the company's presence across multiple geographies and aims to achieve assets under management (AUM) target of ₹300 crore within the next two years. The funding will also enable the company to expand in 30 cities, focusing on Rajasthan, UP, MP, Delhi NCR, and other states of the country, and enhance its technological innovation and operational excellence.
Funding Insights
Based on industry dataVC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech