StrideOne Raises ₹100 Cr, Onboards Ex-Max Life Insurance Rajesh Sud As Cofounder

Non banking financial company (NBFC) StrideOne has raised ₹100 Cr (about $11 Mn) in a mix of equity and debt capital from undisclosed investors.

StrideOne plans to deploy the freshly raised capital in fueling expansion of enterprise anchor programs, strengthening StrideOne’s partner-lender network and building technology and risk infrastructure.

Along with the fresh capital, the NBFC also announced the appointment of Axis Max Life Insurance’s former chairman Rajesh Sud as its cofounder and chairman. In his role, Sud will be responsible to drive StrideOne’s long-term strategy, strengthen governance and risk frameworks. Notably, Sud has also taken an equity stake in the company under undisclosed financial terms.

A majority of the finance veteran’s over three decade long career was with Axis Max Life Insurance.

As a founding member and later CEO & Managing Director of Axis Max Life Insurance, he led the company for nearly two decades.

He has also served as chairman of Niva Bupa Health Insurance and as Managing Director – Financial Services at Bharti Enterprises, where he oversaw Bharti AXA Life Insurance and Bharti AXA General Insurance, while serving on the board of Airtel Payments Bank. Earlier in his career, he held leadership roles at Bank of America and ANZ Bank.

In 2024, StrideOne also roped in former GE Capital chief financial officer Hardeep Singh as its first CFO to strengthen its financial strategy and operations, supporting growth and scaling of startups.

Founded by Ishpreet Gandhi and Abhinav Suri in 2021, StrideOne provides financial solutions to MSMEs and SMEs across India. Its solution suite includes supply chain financing, MSME financing, receivable management, and platform financing.