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Lendingkart’s NBFC Arm Bags $25M From A Clutch Of Investors

30Oct By RishabhNo Comments

FUNDING

Lendingkart’s NBFC Arm Bags $25M From A Clutch Of Investors

Lendingkart Finance Ltd, the NBFC arm of fintech startup Lendingkart has raised around $25 million through debt and equity funding. The company raised this sum between August and September this year in multiple tranches from financial institutions and NBFCs including IFMR Capital, Capital First, Tata Capital Financial Services Ltd (TCFSl) and Manappuram Finance Ltd, as per the report by VCCircle. Earlier in September, Lendingkart raised Rs 70 crore in equity funds from Singapore based- Sistema Asia Fund and its existing investors Bertelsmann India, Mayfield Capital, Saama Capital, Darrin Capital, India Quotient. Out of its current funding, the NBFC raise $9.2 million from its tech and digital marketing arm Lendingkart Technologies Ltd through debt of Rs 20 crore and an equity inf...

Jeff Bezos Surpasses Bill Gates, Becomes The Richest Person- Again

28Oct By RishabhNo Comments

News

Jeff Bezos Surpasses Bill Gates, Becomes The Richest Person- Again

Amazon.com Inc's post-earnings surge has pushed Jeff Bezos to the top of the Bloomberg Billionaires Index for the first time, ahead of Microsoft co-founder Bill Gates who had held the spot as the richest person on Earth for four years. Bloomberg Billionaire Index showed that Jeff Bezos added $10.4 billion to his net worth as Amazon shares rose to 13 percent. At the close of U.S. markets Friday, Bezos held a net worth of $93.8 billion, $5.1 billion ahead of Gates on the Bloomberg index, who was at $88.7 billion. Earlier this year, Bill Gates donated 64 million of the Microsoft's shares worth US$4.6 billion. Reports suggest that this was the largest gift that Gates made since 2000. Bill gates gave away $16 billion worth of Microsoft shares in 1999 and $5.1 billion a year lat...

28Oct By RishabhNo Comments

News

Days After Snapdeal CFO’s Exit, CTO Rajiv Mangla Resigns

Merely two weeks after Snapdeal CFO Anup Vikal's exit, its Chief Technical Officer Rajiv Mangla quits the online retailer, a company spokesperson confirmed on Saturday. Rajiv Mangla is said to have resigned from his post on Friday, October 27; and will be transiting out of his role by 15 December. “Rajiv has played a key role in devising and implementing multiple technology initiatives at Snapdeal, including helping build Snapdeal Cirrus. His ability to continually align a range of ongoing projects with the evolving business needs of the organisation has been invaluable for Snapdeal,” said Rohit Bansal, co-founder of the homegrown e-commerce venture said. The development was first reported by Business Standard. Snapdeal has recently witnessed a string of top-level executives soon ...

Now Manage Your Business Better With These New Gmail Add-ons

25Oct By RishabhNo Comments

Tech

Now Manage Your Business Better With These New Gmail Add-ons

Google announced on Tuesday about the launch of its Gmail add-ons that will allow third-party developers to integrate their services with Gmail directly. With these add-ons, users can now save time from switching to different apps/websites for their basic to-dos. Now from their Gmail inbox itself, users can control different business operations such as generating an invoice, prepare a presentation or follow-up on a sales. "With so many to-dos, imagine if you could complete these tasks directly from your inbox without interrupting your workflow", said Google in a blog-post. "Rather than toggling between your inbox and other apps, use add-ons to complete actions right from Gmail. With Gmail Add-ons, your inbox can contextually surface your go-to app based on messages you receive t...

25Oct By RishabhNo Comments

FUNDING

MSME Lending Platform Bags $3M In Series A Round Of Funding

Online lending platform Ziploan has raised $3 million in a Series A round of funding led by Matrix Partners India. The funding round also saw participation from its existing pre-series investor WaterBridge Ventures, Whiteboard Capital and former Capital18 MD, Sarbvir Singh. Delhi-based Ziploan is an MSME lending platform which is now planning to utilise the freshly raised funds to expand geographically, targeting non-metro cities. With the funds in hands, it will also increase its loan book size. Talking about the investment, Matrix Partners India MD Vikram Vaidyanathan said, “With over 40 Mn SMEs, SME-lending is a large opportunity, but with tough execution challenges. We believe a cautious, technology-led approach can bring down underwriting and sourcing costs enough to serve the SME...

Indian Banking Shares Surge On Government’s $32.4B Recapitalisation Plan

25Oct By RishabhNo Comments

Market

Indian Banking Shares Surge On Government’s $32.4B Recapitalisation Plan

Indian banking shares soared on Wednesday, sending indexes to record highs after the cabinet approved a $32.43 billion plan to recapitalise its state banks over the next two years, although bonds fell given the injection will be funded with debt. State Bank of India, the biggest lender, rose more than 20 percent, while Punjab National Bank, the second biggest state-run lender, surged more than 33 percent. Also Read Know Why Zomato Base President Resigned Within 8 Months of Joining The benchmark NSE Nifty rose as much as 1.3 percent to a record high of 10,340.55, while the BSE Sensex climbed as much as 1.6 percent to a record high of 33,117.33. Bonds fell, with the benchmark 10-year bond yield up 3 basis points to 6.81 percent from its previous close. ...

Know Why Zomato Base President Resigned Within 8 Months of Joining

24Oct By RishabhNo Comments

BUSINESS

Know Why Zomato Base President Resigned Within 8 Months of Joining

Within eight months of joining Zomato's cloud based point-of-sale system, Zomato Base, its President Samir Kuckreja has stepped down from his post. The news was first reported by The Economics Times. Samir's exit comes after a month of Deepak Gulati's resignation, who was working as the Chief Operating Office of online restaurant discovering and food ordering app Zomato. Kuckreja joined the firm in February, 2017 to head its PoS Business and was planning to scale up the business in the long term. Kuckreja, while confirming the development said it was a change in Zomato’s plan regarding its long-term strategy for Zomato Base which was one of the key reasons for his exit. “The original idea was that Zomato Base would become one of the key verticals which would drive revenues in 2-...

Breaking Nirmalya Kumar’s Blog Post About Cyrus Mistry’s Exit

23Oct By RishabhNo Comments

Story

Breaking Nirmalya Kumar’s Blog Post About Cyrus Mistry’s Exit

The internet has gone crazy about Nirmalya Kumar's latest blog post about how Cyrus Mistry was fired as Tata's Chairman. Nirmalya Kumar, Former Group Executive Council member at Tata Sons has revealed a sequence of events on 24 October 2016, the day when Cyrus Mistry was relieved from his services. Nirmalya Kumar was hired by Cyrus to head strategy for the Tata Group, a position that had required Nirmalya to intensively interact and stay close to him. In his latest blog, published on 21 October, 2017; a year after Cyrus' removal, Kumar shed light on the sequence of events held that day! THE GRAPEVINE Cyrus Mistry was in his Bombay House 4th floor office examining what seemed like a routine agenda for the Tata Sons board meeting that was scheduled to start in five minutes at 14:00 hour...

How China is Blocking the World’s Most Popular Websites

21Oct By RishabhNo Comments

ANALYSIS

How China is Blocking the World’s Most Popular Websites

You might be visiting China and already know that you cannot access your Facebook account and post pictures of your tour, but there are a lot more popular websites that are blocked in China. An army of Chinese government blocks and filters some of the most popular websites in the world. Besides the world's most popular American-video sharing website YouTube and Alphabet Inc's Google, even Twitter and Instagram are blocked in China. This operation of filter is world's biggest operation of online censorship aka The Great Firewall of China. China has 731 million internet users which have really tight restrictions around them. During the Communist party in October, China cramped up its online crackdown, blocking American service- Whatsapp and pornographic websites like hdtubemovies in...

BlackBuck Raises $7.6M Venture Debt From InnoVen

18Oct By RishabhNo Comments

FUNDING

BlackBuck Raises $7.6M Venture Debt From InnoVen

B2B logistics startup BlackBuck, operated by Zinka Logistics Solutions has raised around Rs 50 crore ($7.6 million) from InnoVen Capital, venture debt arm of Singapore's Temasek. The development will be used to expand its service offerings. “The funds will get ploughed into the growth of the organization, which is typically around people, processes and product. We plan to penetrate deeper... and expand our offering to other services,” said Rajesh Yabaji, co-founder and chief executive at Blackbuck, adding that the firm looked at venture debt as a means to diversify its sources of funding. “For us it was about trying out different sources of capital. At different phases, access to different sources of capital has opened up for us. Venture debt is one of the things we wanted to try. Inn...

Ready-To-Cook Food Startup Fingerlix Raises $7Mn in a Series B Round

17Oct By RishabhNo Comments

FUNDING

Ready-To-Cook Food Startup Fingerlix Raises $7Mn in a Series B Round

Run by Maverix Platforms Pvt. Ltd, ready-to-cook food brand Fingerlix, has recently raised $7 million in a Series B funding round led by Accel Partners and its existing investor Zephyr Peacock India. The startup is also planning to launch recipe-based offerings in several centre-of-plate categories. Other than that, it will be utilising the funds to accelerate its growth strategy and expand into newer geographies of Bengaluru, Hyderabad, Chennai and Delhi-NCR. Currently Fingerlix is offering ready-to-cook products such as batters, mixes, curries, lentils and paranthas. It will soon be offering Upma Mix, Biryani Mix and Puran Poli after the funding it raised. “We are delighted to partner with Accel, and further strengthen our association with Zephyr Peacock. We look forward to workin...

16Oct By RishabhNo Comments

Tech

Apple Partners With LG Display To Make Foldable iPhone

Following the launch of iPhone X, which is being considered as a the start of new future phones, Apple is now working with LG Display (LGD) to make a foldable iPhone. Reports have that LG Display has already been working on a foldable OLED (Organic Light Emitting Diode) panels for the Cupertino giant, and we could see the first foldable iPhone before 2020. The recently launched iPhone X represents a significant change in the design pattern that Apple had been following, which includes a front-facing sensors that could read your face to unlock the phone. And not to forget the new bezelless OLED screen and the removal of the home button. Samsung has already been working on foldable OLED Screens and foldable phones, which might not be very far from reach of common man now. ...