Roadzen extended the maturity of its $11.5 million senior secured notes, originally due December 31 2025, to June 30 2027, keeping the 15 % annual interest rate and existing covenants. The extension was agreed in principle with Mizuho Securities USA LLC.
The 18‑month extension provides additional liquidity and reduces short‑term debt obligations, giving the company greater flexibility to support its expansion plans in the United States, United Kingdom, and India.
Roadzen’s fiscal year ending March 31 2025 reported revenue of $44.3 million, a 5.2 % decline year‑over‑year, and a net loss of $72.9 million. The company’s current ratio was 0.45 in November 2025, indicating short‑term obligations exceeded liquid assets, underscoring the importance of the debt extension.
The extension is part of a broader strategy to strengthen the balance sheet. In December 2024, Roadzen had already extended the same notes by one year to December 31 2025, and the company has raised equity and paid down liabilities in recent months.
The debt extension coincides with several commercial milestones, including a $20 million annual premium European mandate, an agreement to acquire a majority interest in a U.S. commercial auto MGU and broker, and validation of its DrivebuddyAI system under Indian and EU safety standards.
Management said the extended maturity will provide a longer runway to execute growth initiatives and address liquidity pressures, while maintaining the existing covenants and interest rate.
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