Thursday, March 28

FUNDING

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

Now Softbank Said Paytm Karo, Invested $1.4 Billion in Paytm
FUNDING

Now Softbank Said Paytm Karo, Invested $1.4 Billion in Paytm

Japanese conglomerate SoftBank has pumped in USD 1.4 billion (over Rs 9,079 crore) in Indian digital payments platform, Paytm, marking the largest fund infusion by a single investor in an Indian start-up. This is Softbanks largest investment in a single company in India. While both the companies have declined to comment on the valuation, market watchers say that the deal values Paytm at about USD 8 billion. The funding will help Paytm expand fast its soon-to-be launched payments bank operations as well as grow its user base and introduce more financial products for consumers. SoftBank joins Alibaba and its payments affiliate Ant Financial as amongst the largest investors in One97 Communications which operates Paytm. Interestingly, SoftBank was an early investor in Alibaba. "In ...
Fynd Raises Series A of USD 500k From Silicon Valley Based Rocketship
FUNDING

Fynd Raises Series A of USD 500k From Silicon Valley Based Rocketship

Mumbai, May 15th, 2017: Underlining its commitment to offer superior customer experiences with real time fashion discovery, Fynd, the unique fashion e-commerce portal, recently raised follow-up funds of USD 500k from Silicon Valley-based Rocketship. This new capital has been raised in an extension of the Series A funding round wherein the fashion e-commerce portal had raised USD 500k from Venture Catalysts in March. Fynd seeks to chiefly utilise the funds to strengthen its tech backbone, optimize its operations and further enhance its customer offerings as well as strategies. Fynd will leverage the VC firm’s expertise in data mining and machine learning capabilities to emerge as a household name in the fashion e-commerce space. The Series A funding comes close on the heels of the compan...
FUNDING

E-commerce Platform Infibeam to Invest $468k in RemitGuru

E-commerce firm Infibeam Incorporation Ltd has agreed to invest Rs 3 crore ($468,000) in global digital remittance solutions platform RemitGuru. “As a part of this investment transaction, Infibeam and CC Avenue will invest Rs. 3 crore in RemitGuru wherein Infibeam will invest Rs. 2 crore,” Infibeam said in a statement. The deal would be a cash deal transaction helping Infibeam to increase cross-border e-commerce business transactions with cash-free modes through fintech solutions. CC Avenue already holds 26.76 per cent stake in RemitGuru. “This partial acquisition would not fall within related party transactions and no governmental or regulatory approvals are required for the same,” it said. займ в тамбовезайм на 100000займ на карту честное слово...
Online Fee Platform OnFees Looking to Raise Fresh Funding
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Online Fee Platform OnFees Looking to Raise Fresh Funding

Cash may have been the most-prevalent payment mode for educational institutions traditionally, but a push for digital economy post-demonetisation is making them change too and this has prompted three young professionals to start OnFees an online fee platform. Having tasted big success in Mumbai region with 35 organisations including some chains of institutions, and over 70,000 students on board in a very short span of just about 3 months, OnFees is now looking to expand to other parts of the country and is in talks for the second round of funding. While the first round of funding came from HNIs, the startup is looking for funding from established private equity and venture capital firms in India and abroad, its Chief Marketing Officer Manisha Thakur told Pixr8. 30-year-old Manisha...
LegalRaasta Raises INR 32 Crore Series A Funding From Impanix Capital
FUNDING

LegalRaasta Raises INR 32 Crore Series A Funding From Impanix Capital

The Delhi-based startup, LegalRaasta, which provides finance and taxation services to SMEs, raises approximately $5 million in Series A funding from Impanix Capital. LegalRaasta intends to use these funds in building GST compliance software for SMEs, CAs and enterprises. They will offer both - a standalone GST Software and an API interface, to connect ERP (such as SAP, Oracle and Tally) with GST systems. LegalRaasta has already applied as a GSP (GST Suvidha Provider) with the government. LegalRaasta intends to serve its existing SME clients and over 80 lakh+ potential SMEs to be covered under the GST regime. Through its GST software solution, LegalRaasta intends to simplify GST filing through features such as reconciliation, excel upload, app-based GST filing, etc. LegalRaasta alread...
FUNDING

SoftBank Investing $5 Billion in China Ride Hailing Firm Didi Chuxing

SoftBank Group Corp said it has agreed to invest $5 billion in China's Didi Chuxing, confirming it led a recent fund-raising round by the ride-hailing firm that sources said valued Didi at more than $50 billion. Didi said last month it raised more than $5.5 billion to expand its business overseas and develop artificial intelligence technology. Sources had said investors included SoftBank. A SoftBank spokesman said on Friday the investment was related to Didi's last fund-raising round. SoftBank is trying to transform itself into the "Berkshire Hathaway of the tech industry" with the launch soon of a $100 billion technology fund as telecoms services markets mature. It has already announced plans to invest at least $25 billion over the next five years in the fund, which would be o...
Vidooly Raises $1.4 Million From GVFL, Times Internet
FUNDING

Vidooly Raises $1.4 Million From GVFL, Times Internet

Video intelligence startup Vidooly has raised USD 1.4 million (Rs 8.9 crore) in funding from GVFL and Times Internet. Vidooly will utilise the series A funds towards product engineering, marketing, and enhancing sales and distribution channels, it said in a statement. Previously, the company has raised about USD 1 million. "Video consumption over the last couple of years has exploded given faster and affordable internet access and also the rising demand for devices and high quality online content," Vidooly co-founder Nishant Radia said. The aim is to be a dominant player in this space globally, he added. "We plan to utilise the funds raised to expand in attractive markets such as the US, Europe and Asia and also strengthen the team at Vidooly," he said. Vidooly was also a par...
FinTech Startup EarlySalary Raises USD 4 Million From IDG Ventures India & Others
FUNDING

FinTech Startup EarlySalary Raises USD 4 Million From IDG Ventures India & Others

EarlySalary India’s first FinTech startup to offer Salary Advances and Instant Cash Loans has announced its Series A funding of $4 Million from IDG Ventures India (IDGVI) and Dewan Housing Finance Corp Ltd (DHFL). The company focuses on helping young working professionals get Instant Loans and Salary Advances in minutes and is fast becoming the first line of credit to young working Indians. More than 80% of its customer base is in their first career roles and most of them are new to credit and are first time borrowers. Over the past year, EarlySalary developed its Underwriting System which is a self-learning Algo Based Decisioning System. The System in real time reviews Social Media and Credit Bureau data of customers and helps approve the loan for them. Targeted at young working pro...
Cyber Security Startup Sequretek Raises $2 Million
FUNDING

Cyber Security Startup Sequretek Raises $2 Million

Cyber security start-up Sequretek today said it has raised funding from GVFL and Unicorn India Ventures. While the company did not disclose the size of the funding, sources said Sequretek has raised under USD 2 million in fresh funding in the series A. The Mumbai-based company plans to use the funds for further building on intelligence within their current product offerings and foray into new markets within India and outside, Sequretek said in a statement. Launched in 2013 by Anand Naik, Sequretek offers a suite of products and services to enterprises for securing information. Its clients include HDFC Bank, IDBI Federal, HDFC Limited and NCDEX as well as companies in sectors like retail, pharma and IT-ITeS. The founders had pumped in about Rs 4.5 crore in 2013 and raised USD...
Paytm Looking To Invest 193 Crore in Mumbai Based Insider.in
FUNDING

Paytm Looking To Invest 193 Crore in Mumbai Based Insider.in

Alibaba-backed Paytm is in discussions with Insider.in to pick up stake in the Mumbai based events platform for about Rs 193 crore. According to sources, Paytm could pump in as much as USD 30 million to pick up majority stake in Insider.in. They added that the deal could be announced in the next few weeks. Mails sent to Paytm and Insider.in did not elicit any response. Insider.in is a leading ticketing platform for events and properties, which includes the likes of Bacardi NH7 Weekender and TV series The Dewarists. If the deal fructifies, the digital payments and commerce platform will be able to strengthen its presence in the online ticketing business. The sources said Paytm has scaled up its operations in the movie ticketing business and now, the Noida-based firm is lookin...
FUNDING

Ola Raises Rs 670 Crore Fresh Funding From Ratan Tata Backed Venture

SoftBank-backed Ola has raised Rs 670 crore (USD 104.4 million) in fresh funding from investors including UC-RNT Fund, a venture between the University of California and Ratan Tata. While UC-RNT Fund has pumped in Rs 267.99 crore, another Rs 402 crore has been infused by FO Mauritius I Ltd, according to regulatory filing by ANI Technologies -- which runs Ola. However, the valuation of the company benchmarked against the fresh round of funding could not be ascertained. The said shares were allotted to the investors on March 31, 2017. An email sent to the company remained unanswered. The Bengaluru-based firm, which is locked in an intense battle with US-based Uber for market leadership, had raised about USD 250 million from SoftBank in November, albeit at a lower valuation of USD...
MakeMyTrip to Raise $330 million From Ctrip and Naspers
FUNDING

MakeMyTrip to Raise $330 million From Ctrip and Naspers

Online travel firm MakeMyTrip today said it will raise $330 million (over Rs 2,115 crore) through share sale to investors as well as to Ctrip and Naspers’ arm MIH Internet, to fund expansion. The company has entered into share purchase agreements with undisclosed investors for placement of its ordinary shares, which is expected to generate gross proceeds of $165 million. The company will issue 4,583,334 ordinary shares in aggregate to investors at $36 per scrip. Moreover, it has also signed share purchase agreements with Nasdaq-listed Ctrip.com International Ltd and MIH Internet SEA Pte Ltd, a subsidiary of Naspers Ltd for issuance of the company’s ordinary shares and Class B convertible ordinary shares respectively. Under the agreement, MakeMyTrip will issue 9,16,666 ordinary ...