Subscription billing fintech Skio, a Y Combinator alum, has been acquired by competitor Recharge in a cash deal valued at 105M, according to the founder and former CEO. The surprising part: Skio reportedly raised only 8M before the exit, making the outcome look unusually strong for its funding size and timeline.
Exfinity Venture Partners announced a partial exit from its early investment in AI-driven cybersecurity platform CloudSEK, generating over 40% IRR and 13x MOIC. The liquidity came via a secondary sale to existing investors while Exfinity retained a meaningful stake. CloudSEK has scaled rapidly, crossing $15 million ARR, with 60%+ net-new revenue from international markets, and partnerships like Commvault boosting its U.S. push.
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Cars24 is seeing another high-level exit as cofounder and COO Mehul Agarwal steps back from his operating role after 11 years, while continuing on the board. The move follows other senior departures and comes as the IPO process reportedly accelerates. Cars24 says it has already notched its first globally profitable quarter and is positioning itself for a full-stack vehicle ownership platform.
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