Business-to-business (B2B) manufacturing services marketplace Zetwerk has raised around ₹100 crore in debt capital, with a fund backed by the Edelweiss Group contributing the bulk of the financing, said two people privy to the development.
The debt was raised by issuing non-convertible debentures (NCDs) with around ₹83 crore garnered from Edelweiss Credit Plus Fund, which provides debt capital for early-to-mid-stage private companies.
“The primary debt fundraise is part of a syndicate round participated by another fund and a few high net worth individuals (HNIs) (who contributed the rest ₹17 crore)," one of the persons said on the condition of anonymity. He didn’t name the second fund and the HNIs.
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