Before going public, Captain Fresh, a B2B seafood marketplace, plans to raise Rs 30 crore in debt funding from Trifecta Ventures.
According to its regulatory filings obtained from the Registrar of Companies (RoC), the company will issue 3,000 Series B5 non-convertible debentures to Trifecta Ventures Debt Fund for the aforementioned amount.
A tech-led, vertically integrated global powerhouse of multi-species seafood brands, Captain Fresh was founded in 2019.
This debt infusion follows its ongoing pre-IPO funding round, which raised Rs 250 crore, or about $30 million.
In terms of finances, Captain Fresh reported that its gross revenue (GMV) increased by 71% from Rs 817 crore in FY23 to Rs 1,395 crore in FY24. In the same time frame, the company’s net loss decreased by 22% to Rs 229 crore.
By the end of this year, Captain Fresh plans to submit its IPO application. Axis Capital and BofA have been named by the company as bankers for a proposed $350–400 million initial public offering (IPO), according to media reports.
