Nowfloats Raises 14 Crore Additional Funding From Existing Investors
Hyderabad based Nowfloats which helps small businesses to build an online presence has raised ?14.36 Cr funding. The funding round appears to be a bridge round from existing investors, Omidyar Network, Iron Pillar Capital & others.
As per the regulatory filing, Nowfloats had also secured 10 crore loan from Blacksoil Capital and its received the first part of the amount, which is 5 crores.
The funding will use to run the current operation. The funding is based on debt funding, where Nowfloats Technologies Private Limited allotted 14,35,594 debentures at ?100/- each on March 7, 2018.
Founded by Neeraj Sabharwal, Nitin Jain, Ronak Samantray, and Jasminder Gulati, NowFloats has so far raised ?83.8 Cr from investors including Omidyar Network, IIFL, Faktory Ventures, Blume Venture...