# EvolutionX Debt Capital

> EvolutionX Debt Capital is a VC fund backing Financial Services. See 15 investments, check sizes, portfolio and contact details. Updated Aug 2026.

- Type: VC Fund
- Location: Singapore, Singapore
- Total investments: 15
- Last investment: Jan 2026
- Lead investor: 80%
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/company/evolutionx-debt-capital
- Website: https://evolutionx.com.sg

EvolutionX Debt Capital is a growth stage debt financing platform jointly set up by DBS and Temasek.

## Contacts

5 contacts available for EvolutionX Debt Capital. Shizune tracks 1 team members at EvolutionX Debt Capital. Sign up free to unlock them: https://app.shizune.co/sign-up/investor-profiles/find-team-emails/evolutionx-debt-capital?utm_source=investor_profile

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Financial Services | 4 | 27% |
| E-Commerce | 3 | 20% |
| FinTech | 2 | 13% |
| Finance | 2 | 13% |
| Automotive | 2 | 13% |

33 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Debt Financing | 11 | 73% |
| Funding Round | 1 | 7% |
| Private Equity | 1 | 7% |
| Convertible Note | 1 | 7% |

### Country

| Country | Investments | Share |
| --- | --- | --- |
| India | 7 | 47% |
| Malaysia | 1 | 7% |
| Singapore | 1 | 7% |
| United States | 1 | 7% |
| United Arab Emirates | 1 | 7% |

## Team

| Name | Title | Investments | Profile |
| --- | --- | --- | --- |
| Rahul Shah | Partner | 1 | — |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Kitopi | Kitopi is a food technology and cloud kitchen company that operates cloud kitchens, delivery-only restaurants, and multi-brand food service operations. The company provides kitchen infrastructure, operational support, and technology systems for restaurant brands expanding into delivery and dine-in markets across the Middle East. | $50M | Debt Financing | Jan 29, 2026 |  |
| Yubi | Yubi is a fully integrated, unified digital platform that helps discover, trade, execute and fulfill debt solutions for investors. | $37.9M | Debt Financing | Nov 18, 2025 |  |
| Atome | Atome is a "buy now, pay later" brand that splits consumers' bills into three equal, zero interest payments over time. | $80M | Debt Financing | Feb 11, 2025 |  |
| UpGrad | UpGrad is an online platform that offers educational services to its clients.UpGrad’s range of programs consists of digital marketing, product management, entrepreneurship, data analytics, data-driven management, and digital technology management. It offers industry insights and student support services.UpGrad was launched in 2015 by PhalgunKompalli, Ronnie Screwvala, Ravijot Chugh, and Mayank Kumar and is based in Mumbai. | $34.5M | Debt Financing | Jun 28, 2024 |  |
| Atome | Atome is a "buy now, pay later" brand that splits consumers' bills into three equal, zero interest payments over time. | $100M | Debt Financing | Jun 25, 2024 |  |
| PharmEasy | PharmEasy is a health tech startup offering services such as teleconsultation, medicine deliveries, and diagnostic test sample collections.It also operates an online pharmacy that helps patients connect with local pharmacy stores and diagnostic centers in order to fulfill their extensive medical needs. The startup company is funded and backed byCaisse de Dépôt et Placement du Québec (CDPQ), Ascent Health, Bessemer Venture Partners, Orios Venture Partners, Eight Roads Ventures, InnoVen Capital, and Temasek Holdings.PharmEasy was founded in 2015 by Dharmil Sheth, Mikhil Innani, and Dhaval Shah as a subsidiary of Ascent Health. | $214.4M |  | Apr 29, 2024 |  |
| PharmEasy | PharmEasy is a health tech startup offering services such as teleconsultation, medicine deliveries, and diagnostic test sample collections.It also operates an online pharmacy that helps patients connect with local pharmacy stores and diagnostic centers in order to fulfill their extensive medical needs. The startup company is funded and backed byCaisse de Dépôt et Placement du Québec (CDPQ), Ascent Health, Bessemer Venture Partners, Orios Venture Partners, Eight Roads Ventures, InnoVen Capital, and Temasek Holdings.PharmEasy was founded in 2015 by Dharmil Sheth, Mikhil Innani, and Dhaval Shah as a subsidiary of Ascent Health. | $216.2M | Private Equity | Apr 29, 2024 |  |
| Ola Electric | Ola Electric Mobility engages in the leasing of electric cars. It is working with vehicle and battery manufacturers, cities, driver-partners, and the mobility ecosystem to make electric mobility convenient, dependable, and affordable. Ankit Jain and Anand Shah founded Ola Electric Mobility on May 26, 2017. It has its headquarters in Bengaluru inIndia. | $49.2M | Debt Financing | Apr 01, 2024 |  |
| Mensa Brands | Mensa Brands is an investment firm that partners with entrepreneurs to build digital brands and scale them. The firm's business model involves investing working capital and picking up equity in other D2C startups and scaling their brands' presence online. Its platform helps expertise in driving growth, product, merchandising, technology,supply chain, product, and access to global markets that help founders get a lucrative financial exit while they transform their business through a successful partnership. | $39.7M | Debt Financing | Oct 05, 2023 |  |
| Lendingkart | Lendingkart is an online financing company dedicated to helping entrepreneurs and small businesses with Working Capital Loans. They use Analytics and Big data scoring to evaluate their customer’s business. They are a small and motivated team of bankers, data scientists, and techies trying to make a difference in the world of small businessfinancing. | $24.4M | Debt Financing | Jun 27, 2023 |  |

10 of 15 investments shown.

## Co-investors
- [La Caisse](https://shizune.co/investors/profile/caisse-de-depot-et-placement-du-quebec) — VC Fund, 2 deals together
- [Goldman Sachs](https://shizune.co/investors/profile/goldman-sachs) — VC Fund, 2 deals together
- [360 ONE Asset](https://shizune.co/investors/profile/iifl-asset-management) — VC Fund, 2 deals together
- [MEMG Family Office](https://shizune.co/investors/profile/memg-family-office) — VC Fund, 2 deals together
- [Prosus Ventures](https://shizune.co/investors/profile/prosus-ventures) — VC Fund, 2 deals together
- [Temasek](https://shizune.co/investors/profile/temasek) — VC Fund, 2 deals together

## Similar investors

### Similar stage
- [ENISA](https://shizune.co/investors/profile/enisa-2) — VC Fund
- [Development Bank of Wales](https://shizune.co/investors/profile/development-bank-of-wales) — VC Fund
- [The FSE Group](https://shizune.co/investors/profile/finance-south-east) — VC Fund

## FAQ

### What does EvolutionX Debt Capital invest in?

EvolutionX Debt Capital invests primarily in Financial Services, E-Commerce and FinTech startups, most often at Debt Financing and Funding Round stage. Most of the 15 investments tracked by Shizune back companies in India. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### How do I contact EvolutionX Debt Capital?

Public channels for EvolutionX Debt Capital include LinkedIn and the website linked on this profile. For a verified work email and phone number, create a free Shizune account — contact data is searched across 20+ sources and validated before delivery, so your outreach lands in the right inbox.

### Who are the partners at EvolutionX Debt Capital?

The team at EvolutionX Debt Capital includes Rahul Shah (Partner). The Team section lists each member with their title, investment count and links.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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