CHENNAI: Singapore-headquartered
Xcelerate
Pte Ltd, the parent company of social and industrial compliances services provider Aparajitha, on Tuesday announced raising of $25 million in
funding
.
The governance,
risk and compliance
(GRC) and environmental, social, and governance (ESG) platform offers tech-enabled and scalable compliance solutions in highly regulated and complex industries and markets.
A statement said the latest round was led by global private equity investor Federated Hermes Private Equity. The round also saw participation from existing institutional investors, Altair Capital and Exacta Capital Partners, while Xcelerate’s co-founders and other existing shareholders also invested. The current round of funding will be deployed for strategic acquisition opportunities and ongoing investment into business operations, team and technology.
Madhujeet Chimni, co-founder of Xcelerate, said, "We will aggressively expand into new segments under the GRC and ESG sectors. We feel confident in executing the business plan to build a regional platform with technology-led solutions, supported by strong entrepreneurs with rich domain expertise,” he said.
Xcelerate’s first platform acquisition was Aparajitha Corporate Services Private Limited in India, which now provides
compliance services
to approximately 2,000 large enterprise clients.
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