2 Wheeler Financing Bike Bazaar Secures Rs 25 Crore Debt Funding from MAS Financial

Pune-based Bike Bazaar, a two-wheeler financing and e-commerce platform, has secured Rs 25 crore in debt funding from MAS Financial Services Ltd. The company’s board has approved the issuance of 2,500 NCDs (non-convertible debentures) at an issue price of Rs 1,00,000 each to raise the funds.

“The debt investment, structured for a 30-month tenure, features an annual interest rate of 10.70%. Bike Bazaar has secured around $80 million from various investors, including KFW DEG, Faering Capital, Elevar Equity, and Women’s World Banking. In February of the previous year, the startup raised $30 million in a funding round led by Women’s World Banking Asset Management (WAM).”

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Established in 2017 by Srinivas Kantheti and Karunakaran Vadakkepat, Bike Bazaar specializes in offering financing solutions for customers interested in purchasing two-wheelers, including both pre-owned and electric models. The company has facilitated loans for more than 300,000 vehicles to date and also operates a platform dedicated to the buying and selling of two-wheelers. According to data from startup analytics platform TheKredible, Elevar Equity holds the largest external ownership stake in Bike Bazaar at 25%, followed closely by Faering Capital at 22%. Collectively, the co-founders Srinivas Kantheti and Karunakaran Vadakkepat retain a 12.47% ownership in the company.

Bike Bazaar, a Pune-based two-wheeler financing and e-commerce platform, secured Rs 25 crore in debt funding from MAS Financial Services Ltd through the issuance of 2,500 NCDs. Boasting investments totaling around $80 million, the startup has notable backers like KFW DEG, Faering Capital, and Elevar Equity. Founded in 2017, the company focuses on financing two-wheelers, both pre-owned and electric, having facilitated over 300,000 vehicle loans. Elevar Equity and Faering Capital are the main external stakeholders, while founders Srinivas Kantheti and Karunakaran Vadakkepat collectively retain a 12.47% ownership.