Friday, March 29

FUNDING

Startup Funding News: Get the latest news on startup funding, small business funding, investor management and many more about funding on Pixr8.

Lendingkart’s NBFC Arm Bags $25M From A Clutch Of Investors
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...
Cashfree Raises USD 120k From Y Combinator
FUNDING

Cashfree Raises USD 120k From Y Combinator

Payments platform Cashfree today said it has received USD 120,000 in seed funding from Silicon Valley-based startup accelerator Y Combinator. Cashfree was one of 130 startups globally selected for Y Combinator's Summer 2017 batch and more than 7,000 applications were received this year, a statement said. "The products we have built are first of their kind and are helping businesses scale and innovate faster. We already are a profitable business and are looking to process Rs 200 crore of monthly payments by the end of the year," co-founder Akash Sinha said. The startup claims to process more than Rs 50 crore of payments every month and has 1,100 merchants on its platform. Cashfree works as a payment gateway that automates inbound and outbound bank transfers. This replaces the slo...
MSME Lending Platform Bags $3M In Series A Round Of Funding
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...
Cold Pressed Juice Startup RAW Pressery Bags $6 Mn
FUNDING

Cold Pressed Juice Startup RAW Pressery Bags $6 Mn

Mumbai based RAW Pressery, run by Rakyan Beverages Pvt Ltd that provides cold pressed juices, has raised $6 million funding from its existing investors. The round saw participation from VC Firms-  DSG Consumer Partners, Sequoia Capital and Saama Capital. The four year old startup had earlier raised $4.5 million in a Series B round from Saama Capital, DSG Consumer Partners and Sequoia Capital. RAW Pressery will be utilising its funds to boost its monthly production capacity to 5.5-6 lakh litres from 3.5 lakh litres. A small part of the proceeds will be used to ramp up the company’s cold chain logistics infrastructure and for marketing campaigns as per the source Mint. Also Recommended Apple Hit With Trademark Lawsuit Over iPhone X "Animoji" Feature     The comp...
BlackBuck Raises $7.6M Venture Debt From InnoVen
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...
BankBazaar Secures $30M Funding From Experian
FUNDING

BankBazaar Secures $30M Funding From Experian

BankBazaar.com, an online marketplace for financial products, said it has raised $30 million funding, led by credit agency Experian. The company will use the proceeds of the funding to expand its operations in India and overseas markets, strengthen workforce and platform. "Experian is a global leader in credit reporting and information management, and we are very excited to have them on board as a part of our investor group, which includes Amazon, Sequoia, Eight Roads (Fidelity Growth Partners), and Walden International," BankBazaar CEO Adhil Shetty told PTI. The company has raised USD 110 million till date, including the current round. ALSO READ Microsoft Responded Quietly After Detecting Secret Database Hack In 2013   Bharti Airtel Is Selling iPhone 7 at Rs 7,77...
Ready-To-Cook Food Startup Fingerlix Raises $7Mn in a Series B Round
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...
NGO Raises $500K To Provide Education To Children In India
FUNDING

NGO Raises $500K To Provide Education To Children In India

Pratham USA, an Indian non- governmental organisation has raised more than USD 500,000 this year towards providing quality education to underprivileged children in India. At its latest fund raiser in the Washington DC suburb of Virginia, Pratham raised USD 275,000 from about 360 guests. Actor R Madhavan made an impassioned plea with his keynote address underscoring the importance of tangible results when giving back. "Pratham is doing an extraordinary job in making a huge difference in the lives of people, especially children and women in India," Madhavan said. The people who attended the event were visibly moved by Nisha Sisodiya, a young woman from Rajasthan, who bravely told her story of how she overcame an abusive marriage to become a successful entrepreneur after discovering ...
KrazyBee Raised $8 Mn Series A Funding
FUNDING

KrazyBee Raised $8 Mn Series A Funding

City based micro-lending platform KrazyBee, primarily focused towards purchase finance, today said it has raised $8 million in a Series A financing, led by Xiaomi Technologies and Shunwei Capital. Others who participated in the investment are E-city Ventures and RK Group and the Series A funding is a mix of equity and debt (majorly equity), the company said in a release. Total composite funding received by KrazyBee till date is USD 13 million that includes a Seed Fund of USD two million and Pre-Series A funding of USD three million. The latest round of funding will be used to strengthen the risk model and algorithm, catering to new market segments and focusing on product diversification and geographical expansion in existing segments, KrazyBee said. "We are actively working towa...
Gurgaon Based RenewBuy Bags $9.2 Mn From Amicus Capital
FUNDING

Gurgaon Based RenewBuy Bags $9.2 Mn From Amicus Capital

D2C Consulting Services Pvt. Ltd, which operates online insurance aggregator RenewBuy, has raised an equity fundraising of $9.2 million from Amicus Capital, a mid-market growth capital fund. The capital will be used for expansion of the company to newer geographic locations and addition of new segments like healthcare, accident and term life. Started in 2014, in Gurgaon by former MetLife senior executives, RenewBuy provides real-time quotes from various motor insurance plans. “Given the size of the market, we see huge scope for continued growth and it was important to partner with a strong institutional partner like Amicus Capital who understands our category space and shares the same vision on how to grow the business, said Balachander Sekhar, co-founder, and CEO of RenewBuy.co...
Amazon Infuses $250 Mn In Indian Amazon Seller Services
FUNDING

Amazon Infuses $250 Mn In Indian Amazon Seller Services

Amazon.com has infused another amount of $250 million in its Indian based seller operations arm Amazon Seller Services Pvt. Ltd, as per the filings with Registrar of Companies. Singapore-based group entity Amazon Corporate Holdings and Mauritius-based group entity Amazon.com.incs Limited infused this amount in seller's arm. The investment was secured on September 15 this year by allocating 162 crore equity shares with face value of Rs 10 apiece, as per the source VCCircle. The funding comes in the midst of Amazon’s third leg of its festive season sales. RELATED Amazon Studios Chief Roy Price Suspended Following Harassment Allegation While announcing Amazon’s first-quarter results in April, Bezos deemed India as one of the company’s fastest-growing markets. In 2014, the ...
On-demand Ambulance Service Startup StanPlus Raises $1.1 Mn Seed Funding
FUNDING

On-demand Ambulance Service Startup StanPlus Raises $1.1 Mn Seed Funding

Hyderabad based on-demand ambulance service startup announced that it raised an investment of $1.1 million seed funding from Kalaari Capital’s Seed Fund Kstart and INSEAD Angels Asia. The round also saw participation from CM Diamant, a chain of medical centres and hospital in Canada and Africa. The funds will be utilised to increase StanPlus'  Advance-Life Support fleet and expand across geographies, innovation and to cover all medical transportation categories in near future. The funding will also be utilised to augment the technology front. "StanPlus’ approach to medical transportation is enterprising," says Muthiah Venkateswaran, Partner at Kstart, a seed fund initiative of Kalaari Capital, one of India’s leading Venture Capital firms. Founded in 2016 by three INSEAD MBA graduates ...