SourceEdge Goes Private Capital Market Route
SourceEdge will raise US $1.75 million via crowdfunding route on Exhilway Private Capital Market for expansion into India and international markets.
- (1888PressRelease) August 09, 2012 - SourceEdge, a privately held information technology company founded in the year 2004 is all set to raise funds for further expansion. The company has planned to raise US $1.75 million or INR 10 crore on Exhilway Private Capital Market (EPCM), India's first platform for the emerging private companies to sell their holdings and raise funds from the interested accredited investors.
An inquiry mailed to Exhilway Private Capital Market regarding the fund raising developments of SourceEdge elicited the following response: "We are working on SourceEdge fund raising plans, the company is valued close to US $19 million or INR 108 crore on the basis of their three year projected growth. SourceEdge will be the first information technology company to raise funds on our platform and they will be the part of our proposed US $88 million or INR 500 crore private equity fund which we plan to launch by the August end," said Rahul Sahay, Assistant Vice President of EPCM.
SourceEdge will shell out close to 9.25% equity on the basis of current valuations and will invest this amount to expand both in India and globally. The raised funds will be invested in product development, building competence on enterprise solutions of Microsoft Dynamics and Oracle, global sales office, executive management and joint venture promotions.
Since its inception SourceEdge has catered to various industries like hospitality, education, insurance, retail sales, manufacturing and more. The five year average top line growth of the company is recorded at 30% YoY.
SourceEdge has its client base spread to Canada, US, Europe and Middle East. They also leased out 15,000 sq. ft. space and has invested close to US $1 million or INR 5.70 crore to accommodate 250 workstations.
"It is exciting to see crowdfunding taking new shape in India. The investors are looking out for high voltage performance, the returns for them may be exploding if the company expands as planned. The fee for raising funds is also charged in equity terms by EPCM so the cash flows are never stressed. The downward risk is also limited as the Exhilway private equity fund via the companies raise money offers capital protection," said Robert Potvin a active investor on angellist, a US based crowdfunding platform.
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