FUNDING | Pixr8 News

Fintech Firm LoanTap Raises $3 mn From HNIs

29Aug By PriyankaNo Comments

FUNDING

Fintech Firm LoanTap Raises $3 mn From HNIs

Fintech platform LoanTap today said it has secured USD 3 million in a first strategic round of funding (Series A) from high net worth individuals (HNIs) Abhishek Pandey and Jaysukh Sapra. LoanTap said nearly 85 per cent of the funding, which was led by Mumbai-based HNIs, will be used for onward lending by the platform, while a part of the remaining capital will also be used to augment its technology and distribution frameworks. Further, LoanTap will be leveraging the raised capital to expand its operations in NCR, Mumbai Metropolitan Region, Pune and Bangalore, it said. LoanTap has an inhouse NBFC platform delivering flexible EMI-free loan and overdraft products to salaried professionals. Headquartered in Mumbai with the back office in Pune, LoanTap follows an agency-based coll...

BlackBerry to Raise $605 Million From Shareholder Fairfax, Others

28Aug By reutersNo Comments

FUNDING

BlackBerry to Raise $605 Million From Shareholder Fairfax, Others

Troubled smartphone maker BlackBerry Ltd said it would raise about $605 million by selling convertible debentures to shareholder Fairfax Financial Holdings Ltd and other investors. The Canadian company will also redeem on Sept. 2 roughly $1.25 billion worth of outstanding debentures carrying a coupon of 6 percent, it said on Friday. The new debt that BlackBerry plans to issue will have a coupon of 3.75 percent and will be due in November 2020. If all of the new debt is converted into stock, it will represent about 11.57 percent of BlackBerry's outstanding shares, the company said. FairFax, led by well-known contrarian investor Prem Watsa, is BlackBerry's second largest shareholder with a stake of about 8.9 percent, according to Reuters data. Once a dominant force in smartpho...

28Aug By AdityaNo Comments

FUNDING

Couponhaat.in Gears up to Raise $2M in Series A Funding

Delhi-based start-up and Indian e-commerce company Couponhaat which provides best coupons and deals for online shoppers, is gearing up to raise around $2 Million in series A funding. The fund raising plan is in sync with its expansion plans and increasing the team size. So far, Couponhaat is fully self-funded. Within just one year of its operation, Couponhaat has emerged as the fresh face of the online coupons and deals industry. Couponhaat offers more than 300,000 coupons to redeem and 7000 live coupons, thousands of product pages and countless deals listed on the site. Over last quarter Couponhaat has raised its graph tremendously and attracted over 2 million hits on the website. The traffic is steadily increasing each month, since the time of its very inception in the month of Apr...

MobiKwik Raises $40 million (Rs 268 Cr) From South Africa Based Net1

27Aug By NitishNo Comments

FUNDING

MobiKwik Raises $40 million (Rs 268 Cr) From South Africa Based Net1

South Africa based Net1 will invest USD 40 million (about Rs 268 crore) in Indian digital payment company, MobiKwik. "Net 1 UEPS Technologies has signed a subscription agreement with One MobiKwik Systems. As part of the strategic partnership, Net1 will invest USD 40 million in MobiKwik," the companies said in a statement. In addition, Net1's virtual card technology will be integrated across all MobiKwik wallets, it added. MobiKwik, which has over 32 million mobile wallet users and one lakh retailers onboard, has Sequoia Capital, Tree Line Asia, American Express, Cisco Investments, GMO Payment Gateway and MediaTek among its investors. Over the next three years, MobiKwik aims to reach 150 million users and 500,000 merchants. In May this year, Mobikwik had raised about Rs 330 crore...

Freecharge, Freshdesk Founders Invest in O2O Platform Crownit

27Aug By AdityaNo Comments

FUNDING

Freecharge, Freshdesk Founders Invest in O2O Platform Crownit

Freecharge founders Kunal Shah and Sandeep Tandon, and Freshdesk founder Gireesh Mathrubootham have invested in Crownit, an Online to Offline (O2O) local merchants discovery platform. The size of the deal is however not disclosed. Ex-Snapdeal chief product officer Anand Chandrasekaran has also invested in the venture, the company said in a statement. "We are building Indias largest offline deals company using app-only cost efficient cash-back approach. We are replicating the success of Meituan (China's largest offline deals company) in India. We will continue to scale using product innovation without the need of large capital," Sameer Grover, founder and CEO, Crownit said. Crownit primarily targets offline merchants segment with direct consumer discounts and deals category in India...

26Aug By NitishNo Comments

FUNDING

Zoomcar Raises $24 Million Fresh Funding From Ford Motor

Zoomcar, a Bengaluru-based self-drive car rental company raises $24 million (about Rs 160 crore) funding led by Ford Smart Mobility, a subsidiary of Ford Motor Company. Existing investors Sequoia Capital, Nokia Growth Partners (NGP) and Empire Angels also participated in the round. Zoomcar, which competes with Carzonrent and JustRide, lets users rent cars by the hour or day. It hopes to reach a fleet size of 25,000 in 25 cities by 2018. "We are at an inflection point. Currently, we have 2,000 cars with a presence in 7 cities. We are planning to launch in Kolkata soon and go to more tier-2 cities and penetrate deeper in existing cities," said Greg Moran, who moved from New York to Bengaluru in 2013 to start Zoomcar. This is Ford's first such investment in India. It has been Zoomcar's ...

25Aug By Press Trust of IndiaNo Comments

FUNDING

Witworks Raises Funding From Fireside Ventures, Investopad and Execs of Ola, ITC & Oyo

Witworks Consumer Technologies today said it has received an undisclosed amount of seed funding led by Fireside Ventures, Investopad and executives from Ola, Oyo Rooms and ITC. The consumer technology company will use the funds for development and launch of Blink a wrist-wearable platform designed to provide access to contextual information and services on the go. Witworks aims to tap into the nascent smart wearables market currently dominated by large technology players. "Witworks has raised a seed investment round from Fireside Ventures, Investopad, P39 Capital and a syndicated group of angels, including Anupam Mittal (Shaadi.com founder), Pranay Jivrajka (Ola COO), Maninder Gulati (OYO Rooms chief of strategy), Abhinav Sinha (OYO Rooms COO) and top executives from ITC," it said i...

24Aug By PriyankaNo Comments

FUNDING

Shaadisaga Raises Funding From Kunal Shah & Others

New Delhi: Online wedding platform Shaadisaga had raised an undisclosed amount of pre-series A funding from Anupam Mittal, founder of matrimonial website Shaadi.com, Freecharge founders Kunal Shah and Sandeep Tandon, and Dheeraj Jain, partner at UK-based hedge fund Redcliffe Capital. ah!Ventures and Rohit Chokhani of White Unicorn Ventures were among the other investors who participated in the round. Founded by Himanshu Kapsime and Manish Garg, Shaadisaga offers couples wedding planning services, providing photographers, make-up artists, marriage venue and so on. “Our team is using technology to essentially bring the offline wedding planning experience onto an online platform, while adding convenience and cost-effectiveness,” said Kapsime. The company will use the money in technolo...

23Aug By PriyankaNo Comments

FUNDING

Uberdreams.com, a Platform for Turning Dreams Into Reality Secures $0.5 Million Funding

Uberdreams.com, an online portal to get all your dreams come true has been launched and is now Live for users to avail multiple experiences. This unique business model, operates in a simple format, wherein various dreams are listed on the website, which can be redeemed for the experience at a nominal fixed cost. Currently the website lists more than 75 unique experiences. One of the unique features about this is that the listings and categorization of dreams is designed in an extremely personalized and tailor-made format for different demographics and age groups. For dreams that are not listed, Uber Dreams has a dedicated section known as 'You Dream, We Fulfil.' On this section, visitors and users can express their dreams to be fulfilled by us. The Founding Journey and The...

19Aug By NitishNo Comments

FUNDING

Cuberoot Technologies Raises Nearly $0.5 Million in Funding

Cuberoot Technologies, a preeminent data driven technology company, recently raised nearly USD 0.5 million from undisclosed investors. The funds will assist the organization to expand its business across the country and shall further be utilized in scaling up growth parameters such as expansion of technology team, enhancing product technology, investing in better infrastructure and strategic acquisitions. Cuberoot is geared to launch its flagship product; an Audience Management Platform also known as Cuberoot in the Indian market in the coming months, expanding to other cities in the upcoming months. Also,the company will be incorporating bases in Asia - Pacific market over the next 12-18 months. Such installations of sufficient funds will play a major role in the growth of the or...

19Aug By PriyankaNo Comments

FUNDING

Salebhai.com Secures INR 10 Cr Funding From Brand Capital

Salebhai.com, an e-commerce platform for regional goods from across India that is representative of a culture, has received a major boost from Brand Capital of Times Group. The media conglomerate has come on board with a deal size of Rs 10 crore for a minority stake in the company. The online portal, which operates on a back-to-roots philosophy, currently meets requirements of 17 diaspora communities by sourcing authentic and unique products from their native places. It offers sweets, namkeen, chocolates, bakery, spices, dry fruits, beverages, pickles, handicrafts, paintings, puja items, and herbal products from over 100 cities and 250 sellers. Brand Capital has decided to back this portal considering the huge opportunity in solving a longstanding problem through an integrated platfo...

Zenoti Raises $15 million From Norwest VP & Accel

11Aug By AnkitaNo Comments

FUNDING

Zenoti Raises $15 million From Norwest VP & Accel

Zenoti a SaaS based startup which provides cloud-based software for spas and salons has raised Rs 100 crore ($15 million) led by Norwest Venture Partners along with existing backer Accel India. Zenoti had already received funding of Rs 38 crore from Accel last year. The Seattle and Hyderabad-based company founded by serial entrepreneur Sudheer Koneru, now plans to aggressively expand operations in the United States and European markets. Zenoti already earns about half its revenues from clients in the US including large chains like Massage Green and Massage Heights. In India it has clients like Kaya Skin, Enrich Salons, O2 Spas and Blush Clinics. It recently also got Naturals on board with all its 600 outlets throughout the country. In the US market, Zenoti will compete with player...