# Ascend Capital

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/ascend-capital

- Industry: Financial Services
- Headquarters: Jaipur, India
- Website: www.ascendcap.in
- Total disclosed funding: $5M
- Latest round: Series A (Feb 7, 2024)
- Investors on record: 2

## About

Based in Rajasthan, India, and founded in 2019 by Lokesh Chandra and Gaurav Maheshwari, Ascend Bizcap Pvt. Ltd., trading under the name Ascend Capital, operates as a financial technology company that focuses on providing a lending platform that facilitates loans for electric vehicles, such as e-rickshaw loans, light commercial vehicle loans, and e-bike loans. In February 2024, Ascend Capital raised INR 500 million in Series A funding co-led by InfoEdge Ventures and Asha Impact.

The company provides a loan origination system (LOS), enabling rapid customer onboarding across multiple platforms, and a loan management system (LMS), which is an advanced and comprehensive bank loan management system that enables banks to improve the agility, transparency, and efficiency of their lending solutions. In addition, Ascend Capital also offers a mobile application that provides custom loans with flexible repayment terms, easy disbursement, and more. The products offered by Ascend Capital include an e-rickshaw loan, a light commercial vehicle (L5) loan, an e-bike loan, and more.

The company plans to use its proceeds from February 2024 funding to become a market leader and facilitate capital flow into the rapidly growing EV segment.

## Funding rounds

- Series A, Feb 7, 2024, $5M — Asha Impact, InfoEdge Ventures

## Investors

- Asha Impact (https://capitalatlas.ai/funds/asha-impact) — Series A
- InfoEdge Ventures (https://capitalatlas.ai/funds/infoedge-ventures) — Series A