MAM
CredR raise $ 6.5 million in latest round led by Yamaha Motors & Astarc Ventures
New Delhi: Bangalore-based CredR (Incredible Technologies Pvt Ltd) has raised $ 6.5 million, in its latest round led by Yamaha Motors to leverage the fast-growing market for used two-wheelers.
The latest round of funding also witnessed participation from existing investors Omidyar Network India and Eight Roads Ventures, as well as automotive-focused Astarc Ventures.The six years old two-wheeler consumer brand created an omnichannel buying experience, through a chain of flagship showrooms across Maharashtra, Karnataka, Delhi, NCR, and Rajasthan. The funding will be used towards consolidating its market position, strengthening its technology platform, and expanding customer offerings, it said on Wednesday.
CredR has been focused on formalising the unorganised and fragmented used two-wheeler market, with over one thousand dealers across India. Even though India’s used two-wheeler market accounts for over 30 million annualised units, challenges around standardisation of pricing, strong quality inspection and customer experience, and most notably post-sales support, persist. “Our mission is to solve for the existing trust deficit in the category through their full-stack vertically-integrated business model empowered with technology,” said the company.
Speaking about the company’s goal for the future, CredR co-founder Sasidhar Nandigam said, “Our partnership with Yamaha Motors validates our shared vision to provide customers the best option to buy/sell used two-wheelers. They are a name to be reckoned with in the global mobility sphere. The funds raised in this round would help us to go deeper into existing markets and provide a world-class customer experience empowered with technology. Yamaha Motors’ comprehensive understanding and experience in the two-wheeler mobility segment aligns with our first-to-market business model.”
Commenting on this investment, Yamaha Motors, senior general manager New Venture Business Development & R&D Strategy Section, Technical Research & Development Center, Hajime Aota said, “India is one of the biggest mobility markets in the world and the personal freedom that motorcycles and scooters bring, is a huge and lasting benefit for this country’s people, regardless of whether they are new or used. CredR’s clear vision behind its thriving used two-wheeler business resonated with us, and we decided to invest in the company to help their business scale bigger, which will subsequently lead to a higher quality of life for India’s people.”
Omidyar Network India, principal, Aditya Misra said the company is doubling down its investment because it believes that two-wheelers are the choice of transportation as much in the top 30 cities in India as the rest of the country. “We find CredR’s customer-centric technology-first mindset applied to their O2O (online to offline) model to be a massive advantage that can go a long way in enhancing trust for consumers,” he added.
Brands
YES Bank hands the keys to SBI veteran Vinay Tonse as it bets on a new era
Former SBI managing director appointed as YES Bank’s new MD and CEO
MUMBAI: YES Bank is done rebuilding. Now it wants to grow. The private sector lender has appointed Vinay Muralidhar Tonse as managing director and chief executive officer-designate, with RBI approval secured and a start date of April 6, 2026 confirmed. The three-year term signals the bank’s intent to shift gears from crisis recovery to full-throttle expansion.
Tonse, 60, is no stranger to scale. Most recently managing director at State Bank of India, he oversaw a retail book of roughly $800bn in deposits and advances, one of the largest in the country. Before that, he ran SBI Mutual Fund from August 2020 to December 2022, a stint that saw assets under management surge from Rs 4.32 lakh crore to Rs 7.32 lakh crore across market cycles. Add stints in Singapore and four years leading SBI’s overseas operations in Osaka, and the incoming chief arrives with a genuinely global CV.
His academic grounding is equally solid: a commerce degree from St Joseph’s College of Commerce, Bengaluru, and a master’s in commerce from Bangalore University.
The appointment follows an extensive search and evaluation process by the bank’s Nomination and Remuneration Committee. NRC chairperson Nandita Gurjar said the committee unanimously backed Tonse, citing his leadership track record, governance credentials and ability to drive the bank’s next phase of transformation.
Non-executive chairman Rama Subramaniam Gandhi was unequivocal. “I am certain that Vinay Tonse, with his vast experience as a senior banker, will propel YES Bank to its next phase of growth,” Gandhi said, adding that the bank remains focused on strengthening its retail and corporate banking franchises and expanding its branch network.
Rajeev Kannan, non-executive director and senior executive at Sumitomo Mitsui Banking Corporation, the bank’s largest shareholder, said Tonse’s experience across retail, corporate banking, global markets and asset management positioned him well to lead the lender. SMBC said it looks forward to working with Tonse and the board as YES Bank pursues its ambition of becoming a top-tier private sector lender anchored in strong governance and sustainable growth.
Tonse succeeds Prashant Kumar, who took the helm in March 2020 when YES Bank was in freefall following a severe financial crisis, and spent six years painstakingly stabilising the institution, rebuilding governance and restoring operational scale. Gandhi was generous: “The bank remains indebted to Prashant Kumar, who is responsible for much of what a strong financial powerhouse YES Bank is today.”
Tonse, for his part, struck a purposeful note. “Together with the board and my colleagues, I remain deeply committed to creating long-term value for all our stakeholders,” he said, pledging to build on Kumar’s foundation guided by his personal motto: Make A Difference.
Beyond the balance sheet, Tonse played cricket at college and club level and represented Karnataka in archery at the national championships — sports he credits with teaching him teamwork, situational leadership, discipline and focus. In quieter moments, he reaches for retro Kannada music, classic Hindi songs, and the crooning of Engelbert Humperdinck, Mukesh and Kishore Kumar.
YES Bank has its steady-handed rebuilder in Kumar to thank for survival. Now it has a scale-obsessed growth banker at the wheel. The next chapter starts April 6.
