About Ratio
Ratio is a venture capital firm founded in 2021. It is primarily based out of London, United Kingdom. As of Apr 2025, Ratio has invested in 13 companies. It primarily invests in Seed round in Bangladesh based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to FinTech and High Tech. Most recently it participated in the $***** Conventional Debt round of Cinch A lot of funds co-invest with Ratio, with names like Saison Capital sharing a substantial percentage of its portfolio. Ratio has team of 2 people including 2 partners.Key Metrics
Team Members
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series A & 1 more
Portfolio Soonicorns
Ratio's List of Top Investments
Ratio has a portfolio of 13 companies. Their most notable investmentis in FinbloxTheir portfolio spans across Bangladesh, India, Singapore and 4 more locations. They have invested in Enterprise Applications, FinTech, High Tech and 10 other sectors, across stages such as Seed, Series A and 1 more. Here is the list of top investments by Ratio:
1. Even
Provider of health insurance plans with outpatient and hospitalization coverage. It facilitates health insurance policy comparison and selection. It offers coverage for hospitalization, outpatient expenses, and family floater plans. It also provides support throughout the enrolment and claims processes.
Key facts about Even
- Founded Year: 2020
- Location: Bengaluru (India)
- Annual Revenue: ₹10 - ₹50 Cr as on Mar 31, 2025
- Valuation: $*****
- Stage: Series A
- Total Funding till date: $72.5M
- Employee Count: 551 as on Aug 31, 2025
- Investors: Lightrock India, Trifecta Capital and 54 Others
- Latest Funding Round: Series A, Mar 31, 2025, $*****
- Highlight: Editors' Pick
2. Shikho
Provider of digital educational content for secondary and higher secondary students. The platform delivers academic support through recorded and live classes. It offers animated videos, practice tests, class notes, and report cards. The company provides resources for school and admission test preparation.
Key facts about Shikho
- Founded Year: 2019
- Location: Dhaka (Bangladesh)
- Stage: Series A
- Total Funding till date: $8M
- Employee Count: 508 as on Jun 30, 2026
- Investors: Goodwater Capital, Learn Capital and 13 Others
- Latest Funding Round: Series A, May 07, 2025, $*****
- Highlight: Editors' Pick
3. Arogga
Provider of an online pharmacy for healthcare products. The platform allows users to order medicines online by uploading the prescription and getting them delivers to the doorstep using the app. It also, offers information on the medicines and drugs with the price comparison to make better health decisions.
Key facts about Arogga
- Founded Year: 2020
- Location: Dhaka (Bangladesh)
- Stage: Seed
- Total Funding till date: $5.7M
- Employee Count: 210 as on Jun 30, 2026
- Investors: Blue Collective, Ratio Ventures and 15 Others
- Latest Funding Round: Seed, Oct 25, 2023, $*****
- Highlight: Editors' Pick
4. TransBnk
Provider of open finance infrastructure for transaction banking and related services. The infrastructure supports banks, lenders, and corporations with secure and compliant solutions. These solutions include mandate management, escrow flows, reconciliation, and repayment intelligence. The platform automates reconciliations, reduces errors, and manages financial flows. It offers digital solutions enabling secure fund flows and automated transaction management.
Key facts about TransBnk
- Founded Year: 2022
- Location: Delhi (India)
- Annual Revenue: ₹10 - ₹50 Cr as on Mar 31, 2025
- Valuation: $*****
- Stage: Series B
- Total Funding till date: $30M
- Employee Count: 99 as on Aug 31, 2025
- Investors: 8i Ventures, Accion and 31 Others
- Latest Funding Round: Series B, Aug 27, 2025, $*****
- Highlight: Editors' Pick
5. Omni HR
Cloud-based platform for HRMS suite. The platform offers tools for managing recruitment, onboarding, performance, attendance, time off, payroll, etc. It also offers tools for document management and e-signature. It is the tool available on the subscription-based pricing model.
Key facts about Omni HR
- Founded Year: 2021
- Location: Singapore (Singapore)
- Annual Revenue: $0 - $1M as on Dec 31, 2024
- Stage: Series A
- Total Funding till date: $9.8M
- Employee Count: 75 as on Jun 30, 2026
- Investors: Horizons Ventures, FEBE Ventures and 6 Others
- Latest Funding Round: Series A, Dec 09, 2024, $*****
- Highlight: Editors' Pick
Ratio's Year-on-Year Investment Trends
Ratio has invested in 13 companies over the last 5 years, with an average of 3 new investments annually in the last 5 years. In 2025, it made 3 investments. Its most recent first time investment was in Cinch and most recent follow-on round was in Cinch.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 0 | 0 |
2025 | 2 | 1 | 3 |
2024 | 2 | 1 | 3 |
2023 | 1 | 1 | 2 |
2022 | 6 | 0 | 6 |
2021 | 2 | 0 | 2 |
Ratio's Investments by Stage
Ratio has made 9 investments in Seed stage with an average round size of $2.66M, 3 investments in Series A stage with an average round size of $10.7M and 1 investment in Conventional Debt stage.Stage of entry | No. of Investments |
|---|---|
Seed | 9 |
Series A | 3 |
Conventional Debt | 1 |
Note: We have considered here, only first round of investments
Ratio's Investments by Sector
Ratio has a diverse portfolio, with companies operating in the Enterprise Applications, FinTech, Blockchain - Industry Applications, Consumer and Retail. Notably, it has invested in 11 Tech companies, 8 Enterprise (B2B) companies, 7 Software companies and at least 6 companies focusing on Saas.Sector | No. of Investments |
|---|---|
Enterprise Applications | 6 |
FinTech | 4 |
Blockchain - Industry Applications | 3 |
Consumer | 3 |
Retail | 3 |
Others | 15 |
Note: We have considered here, only first round of investments
Ratio's Investments by Geography
Ratio has made most investments in Bangladesh (3), followed by India where it has made 3 investments.Country | No. of Investments |
|---|---|
Bangladesh | 3 |
India | 3 |
Singapore | 2 |
China | 1 |
Thailand | 1 |
Others | 2 |
Note: We have considered here, only first round of investments
Ratio's recent investments
Ratio has not made any investment in 2026 so far.Here are the most recent investments by Ratio:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Apr 08, 2025 | Singapore | Conventional Debt | 3778 | [+5] | |
Apr 08, 2025 | Singapore | Series B | 2827 | [+5] | |
Mar 31, 2025 | India | Series A | 5875 | [+7] | |
Dec 09, 2024 | Singapore | Series A | 2154 | [+2] | |
Aug 21, 2024 | India | Series A | 2980 | [+12] |
Team profile of Ratio
Ratio has a team of 2 members including 2 Partners located in Thailand and Singapore. Ratio's team does not sit on the board of any company as of now.Co-investors of Ratio
Over the past 5 years, 193 investors have co-invested in Ratio's portfolio companies. This includes funds and angels.
- Invested before Ratio: iSeed, Khosla Ventures and 74 others have invested in rounds before Ratio. There are 2 companies where iSeed has invested before Ratio and 1 company where Khosla Ventures has invested before Ratio.
- Top Co-investors of Ratio: 101 investors entered a company along with Ratio. These include investors like Saison Capital (3 companies).
- Invested after Ratio: A total of 16 investors have invested in Ratio's portfolio after their investments. Top Investors include January Capital (2 companies), Goodwater Capital (1 company) and Sturgeon Capital (1 company).
Recent News related to Ratio
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Cinch Raises US$28.8M to Expand Device-as-a-Service Platform Across AsiaMonk's Hill Ventures•Apr 08, 2025•Cinch, Monk's Hill Ventures, Z Venture Capital, Digital Currency Group and 2 others
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To Accelerate Healthcare Market And Ai In Southeast Asia, Thailand’s Hd Hd Raised $7.8 M Series A FundingIncubees•Mar 06, 2025•HD, Merck Sharp & Dohme, SBI Ven Capital, M Venture Investment and 8 others
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Singapore-based Omni HR secures $7.4mTech in Asia•Dec 09, 2024•Picus Capital, Alpha JWC Ventures, Omni HR, January Capital and 1 other
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8i Ventures leads $4 Mn Series A round in TransBnkEntrackr•Aug 21, 2024•8i Ventures, TransBnk, Accion, and 6 others
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Surgery marketplace HD closes US$5.6M Series A rounde27•Apr 04, 2024•SBI Ven Capital, HD, Kyobo Securities, NTUitive and 11 others
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Healthtech startup Arogga raises $5.5m seed funding to combat counterfeit medicineThe Business Standard•Dec 05, 2023•Arogga, The Venture Collective, Blue Collective, Iterative and 4 others
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Arogga closes $5.5M round to bring healthcare to your doorstepTech Funding News•Oct 25, 2023•Arogga, The Venture Collective, Blue Collective, Iterative and 3 others
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ToolJet raises funds from Microsoft’s M12 and GitHub InvestEnablers•Jul 17, 2023•ToolJet, M12, GitHub, Nexus Venture Partners and 3 others
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Videowise's eCommerce video platform grabs the attention of Slack Fund leading to $3 million Seed roundTech.eu•Mar 27, 2023•VideoWise, Slack, Founder Collective, Underline Ventures and 3 others
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ToolJet Raises $4.6M in Pre-Series A FundingFinSMEs•Feb 04, 2023•ToolJet, Nexus Venture Partners, January Capital, Ratio and 1 other
