Bengaluru-based Ripplr is raising INR 40 Cr ($4.7 Mn) debt from IPO-bound Northern Arc. According to Ripplr’s regulatory filings, the startup’s shareholders passed a resolution to allot up to 400 non-convertible debentures (NCDs) to the lender for a cash consideration of INR 40 Cr.
Last month, the startup raised INR 6 Cr debt from another venture debt firm Trifecta Capital.
In May, Ripple’s shareholders passed a resolution to raise up to INR 101 Cr through debt. The latest funding seems to be part of the same round.
Founded in 2019 by Abhishek Nehru and Santosh Dabke, Ripplr offers a B2B web platform and mobile application to connect retailers with distributors. The startup claims that the platform uses AI to make predictions and decisions which helps brands deliver an integrated customer experience by elevating certainty and quality for consumers.
It counts Dabur, Tata Consumer Products, and Godrej among its customers for the distribution service vertical, while its logistics services are used by the likes of BigBasket and Zomato.