Roadzen Inc. announced that it has entered into Securities Purchase Agreement with returning individual investor Supurna VedBrat and new lender Krishnan-shah Family Partners, LP to issue senior secured notes for the gross proceeds of $2,000,000 on March 28, 2024. The Notes bear interest at a rate of 17.5% per annum and mature on the six-month anniversary of funding of the applicable Notes. Pursuant to the terms of the SPA, the Company may issue and sell up to an additional $2 million in aggregate principal amount of Notes to one or more other purchasers.

On the same date, the company received $1000,000 in its first tranche, $500,000 from each of the investors.