Xcelerate, an integrated ESGRC [environmental, social, governance, risk, compliance] operating and investing platform, has amassed a debt funding of up to $52 million from Orion Capital Asia, per a statement.
The company, headquartered in Singapore, holds a substantial presence in India, through its anchor acquisition of Aparajitha Corporate Services in the labour, employee, and industrial compliances segment. It has acquired three more companies in the country.
Xcelerate said it plans to use the funding to refinance its existing debt, pursue inorganic growth strategy, and consolidate its businesses in markets such as the UK and Australia, besides the APAC region. It also counts Federated Hermes, Altair Capital and Exacta Capital Partners, among its backers.
“In Orion Capital Asia, we found a partner who is fully appreciative of our business model, supportive of our initiatives, and is solutions-oriented,” Madhujeet Chimni, co-founder of Xcelerate, said in a statement.
Earlier this year, in April , the company made a foray into stakeholder and sustainability reporting and advisory segment by acquiring a strategic equity stake in Stirrup Communication Consultants (erstwhile business of AICL Communications).
A month later, it acquired a strategic equity stake in generative AI-powered regtech solutions provider Gieom Business Solutions that caters to 125 BFSI clients spread across Europe, Middle East, and India.
Orion, backed by large institutional investors such as pension plans from the US, Canada, and South Korea, and a sovereign linked financial institution from Japan, is a private credit investment manager based in Singapore. It claims to have provided over $1.5 billion of loans to companies across the Asia-Pacific region.