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Visa Brings Virtual Card Payment Facility to Clients Worldwide

23Nov By AnkitaNo Comments

News

Visa Brings Virtual Card Payment Facility to Clients Worldwide

SAN FRANCISCO, November 23rd, 2020-- Visa (NYSE:V), the world’s leader in digital payments launch Visa Commercial Pay, a suite of B2B payment solutions, to help improve cash flow for businesses and eliminate outdated manual processes. Virtual commercial cards have never been more necessary than today. Remote workers are turning to personal cards to pay for corporate expenses, buyers and suppliers need more efficient ways to pay and get paid, and businesses need immediate visibility into their company spend to improve cash flow and mitigate risk efficiently. Visa Commercial Pay provides comprehensive card-program management capabilities, including on-demand virtual card issuance to employees’ mobile devices via an app, created exclusively by Conferma Pay and Visa, for Visa’s commerci...

Agricultural Commodities Platform Bijak raises USD 12 million

25Apr By AdityaNo Comments

FUNDING

Agricultural Commodities Platform Bijak raises USD 12 million

New Delhi, Apr 25th, 2020: Bijak, a B2B platform for agricultural commodities has raised USD 12 million (Rs 91 crore) from investors including RTP Global to enhance its technology team and roll out new features. In the Series-A round, led by RTP Global, the company said that its existing investors Omnivore, Omidyar Network India, Sequoia Capital India’s Surge, and Better Capital also participated. Bijak previously raised a USD 2.5 million Seed round in December 2019 from Omnivore, Omidyar Network India, Surge, and Better Capital. Gurugram-based Bijak is a platform that gives agricultural commodity buyers and sellers better prices, increased working capital, and optimised logistics. It aims to bring accountability and transparency into the agricultural value chain through a buye...

MaxWholesale raises USD 3 mn from IAN Fund, Abu Dhabi’s Al Falaj Investments

19Feb By NitishNo Comments

FUNDING

MaxWholesale raises USD 3 mn from IAN Fund, Abu Dhabi’s Al Falaj Investments

MaxWholesale, a B2B e-commerce platform for kirana stores has raised USD 3 million (about Rs 21.4 crore) in funding led by IAN Fund-I and Abu Dhabi-based Al Falaj Investment Company (AFI). The Series-A round also saw participation from existing investor Maple Capital, along with Infoedge's ex-CFO Ambarish Raghuvanshi, Maple Capital's Abhinav Grover and Biba Group's Siddharth Bindra, among others, a statement said. Raman Roy and Abdelghani have joined MaxWholesale's board as directors, it added. "With the investment, MaxWholesale will hire talent to develop its technology further and accelerate growth... MaxWholesale is also looking to expand its reach to Kirana stores in the coming months," it said. The platform currently services 10,000 kirana stores in Delhi. The company mana...

JP Morgan invests in Payment Startup to improve B2B payments

13May By AnkitaNo Comments

FUNDING

JP Morgan invests in Payment Startup to improve B2B payments

Global PayEx announced strategic investment by banking and financial services provider JP Morgan that will help the latter's clients experience clearer electronic invoice presentation and quicker reconciliation. Global PayEx is a provider of electronic invoice presentment and payment (EIPP) in B2B payments space. It offers a cloud based platform, Freepay, to facilitate electronic sharing of invoices, handling of payments and management of transaction information between business to business (B2B) buyers and sellers, a release said. "This investment is a great example of our commitment to address our clients' specific concerns in the B2B payments space, which continues to grow at an exponential pace," Sridhar Kanthadai, Head of wholesale payments for Asia Pacific, JP Morgan said. ...

Walmart to Launch 30 Stores In Next 3 Years In India

23Jul By AnkitaNo Comments

News

Walmart to Launch 30 Stores In Next 3 Years In India

US-based multinational retailing corporation Walmart is planning to open nearly 30 new wholesale cash-and-carry stores in the next three years in India, basically in Uttar Pradesh (UP) and Uttarakhand, mentioned by the top company official. Walmart India, the wholly owned subsidiary of Walmart Inc, has inaugurated its second B2B fulfilment centre (FC) in Lucknow. It is set to accelerate the growth of its store network in the country. Walmart India President and CEO Krish Iyer mentioned that “We would launch two stores this year, eight stores next year and 10 stores a year after that, Walmart has plans to add 50 stores in the next five to seven years." Besides, the company has a signed memorandum of understanding (MoU) with the government of UP to have 15 stores in the next few yea...

5Jul By Gauri SinghNo Comments

FUNDING

FoodTech Startup HungerBox Raises $4.5 Million in Series A Funding

A Bengaluru-based business to business foodtech company called ‘HungerBox’ has secured an amount of $4.5 million in a Series A funding round led by Sabre Partners and Neoplux which is a South Korean investment company. Along with these investors, the funding round witnessed participation of Infosys Co-founder Kris Gopalkrishnan and Lionrock Capital, who have been the existing investors in the startup. “HungerBox's strength of their technology-led solution, deep penetration into large corporate accounts and carefully calibrated growth means their business is extremely robust. We are delighted to partner this exciting company as they harness the potential for disruption in the corporate catering space in other markets beyond India,” said Alex Noh, Head of Cross-border Investment at Neopl...

Recruitment At RCom Declined By 94 Percent

14Jun By Gauri SinghNo Comments

BUSINESS

Recruitment At RCom Declined By 94 Percent

The Anil Dhirubhai Ambani-led telecom company Reliance Communications has stated that the total number of jobs and recruitment in the company have reduced to 3,400 at present by about 94 percent from a high level of 52,000. The jobs at the RCom was at its peak at around 2008-10. But gradually the number has decreased, maybe due to the pressure of debt. The company is losing its balance lately under a debt of around Rs 45,000 crore. "Total number of people in the RCOM group: from peak of approximately 52,000 to current 3,400, a reduction of approximately 94 percent," RCom said in a filing. The company has closed its mobile services business this year in January and continues to provide business-to-business (B2B) telecom services. The telecom firm in the filing stated that its B2B depar...

Myntra’s losses reduced by 25%, Aims to Track Profits for FY18

21May By Gauri SinghNo Comments

BUSINESS

Myntra’s losses reduced by 25%, Aims to Track Profits for FY18

Myntra’s marketing strategies and intelligence have lately given a boost to the fashion and lifestyle business of its parent company Flipkart. The losses for the FY17 have reduced by 25% to Rs. 655 crore as against Rs. 823 crore in the previous year. The major strategy adopted by the fashion and lifestyle etailer has been the focus on umbrella branding of its private labels, which means the ability of a single brand to reach across categories. The increase in the reach of private brands to the masses led to the decrease in losses for the company. The documents show that the losses presently stand at Rs 627 crore, lessening 23% on a standalone basis. The company’s three-year-old private label business has grown tremendously and accounts for about 25% of the overall revenue. In Septemb...

19Mar By AdityaNo Comments

FUNDING

CustomerSuccessBox raises $1 Million Pre-Series A funding

Bengaluru, March 19, 2018 – B2B Saas Platform CustomerSuccessBox has raised $1mn in pre-Series A funding led by pi Ventures with participation from Axilor Ventures. The funding will use for growth hacking and product improvement as per the information mentioned in the press release. CustomerSuccessBox is a customer success platform which helps B2B SaaS companies to grow their recurring revenue. It applies Artificial Intelligence (AI) and Machine Learning (ML) to automate customer onboarding, product usage analysis, and user communication. Thus enabling success managers to deliver a superior customer onboarding experience, retain customers, drive, upsell and improve Monthly Recurring Revenue (MRR) and Lifetime Value (LTV) for SaaS businesses. Founded in 2016 by Puneet Kataria (CEO) an...

E-commerce Platform Udaan Raises $500 Mn from Lightspeed India And More.

21Feb By Sabhyata AgarwalNo Comments

FUNDING

E-commerce Platform Udaan Raises $500 Mn from Lightspeed India And More.

The business-to-business electronic commerce platform Udaan has raised $500 million in a Series B round of funding from Lightspeed Venture Partners, Lightspeed India and DST Global founder Yuri Milner’s personal investment vehicle Apoletto. It also involved Ravi Mhatre from Lightspeed Venture Partners and Bejul Somaia from Lightspeed India also took part in the transaction. This funding is recognised to be one of the biggest funding rounds at an early stage in the Indian startup ecosystem. The company is going to use the current funding's to hire more engineers and sales executives, expand its logistics network, to add new sellers and buyers and to introduce new services. “B2B ecommerce is a big market opportunity with 500 million SMEs doing annual trade worth of $600-800 billion. In...

Metro Cash & Carry To Start Ecommerce For B2B By Dec-End

15Oct By Press Trust of IndiaNo Comments

News

Metro Cash & Carry To Start Ecommerce For B2B By Dec-End

Metro Cash & Carry will start online sales for business customers by year-end as it looks to expand its market position in the growing segment, a top official of the company said. The company also plans to add more stores to its network. To woo small kirana shops, the company has also started giving them credit ranging from Rs 1 lakh to Rs 15 lakh on their purchases besides delivering products at their stores. "In the next 60 to 90 days, before the end of this year, we would be starting our new e-commerce solutions," Metro Cash & Carry India CEO and MD Arvind Mediratta told PTI. At present, its sales team visits kirana shops to take orders directly. "... in future, the customer would not have to wait for them. They would go online, place the order and it would be delive...

22Jun By RishabhNo Comments

FUNDING

MaxWholesale Raises $1 Million Funding From IAN, Maple Capital Advisors

MaxWholesale, a mobile based B2B grocery supply chain platform, has raised close to USD 1 million (Rs 6 crore), led by Indian Angel Network (IAN) and Maple Capital Advisors. These investors include names like Ambarish Raghuvanshi, Raman Roy, Sunil Munjal, Bikky Khosla, Pankaj Karna and Abhinav Grover among others, a statement said today. Last year in July, the firm raised Rs 1 crore (around $150,000) in a seed round from Maple Capital Advisers. MaxWholesale is powering the online wholesale process for more than 90 FMCG companies, some of them being Cadbury, Dabur, Patanjali, Capital Foods, P&G and HUL. “There are more than 7 million stores in India and the packaged consumer goods market in the country is worth more than $40 billion. MaxWholesale is leveraging the power of t...