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San Francisco, CA, 19th June 2020: Furniture rental company CasaOne has received USD 50 million (around Rs 375 crore) of debt financing from financial services company Credit Suisse. The funding will be used to support the overall growth of the business affording expansions into additional product categories within furniture, fixtures, and equipment, the company said in a statement. "In light of COVID-19, we are seeing a further acceleration in demand for on-demand, flexible furniture rental and leasing options in addition to remote work or work from home solutions. This funding will help us expand into newer equipment categories to support businesses emerging out of the current crisis," company's chief executive Shashank Shankaranarayana said. Last year, the company raised $16 mi...

Investment bank Credit Suisse is reaching out to minority shareholders of Snapdeal to build a consensus on the sale of the e-commerce platform to larger rival, Flipkart. According to sources, Credit Suisse, which is advising Snapdeal on the proposed deal, is reaching out to smaller shareholders to get them on board for the acquisition. The beleaguered firm has a number of investors including PremjiInvest, Ontario Teachers Pension Plan, Ratan Tata, Foxconn, Temasek and BlackRock among others. Emails sent to Snapdeal and Credit Suisse did not elicit any response. PremjiInvest the personal investment arm of Wipro chairman Azim Premji and a minority investor in Snapdeal -- had written to the company seeking greater clarity on the deal terms. It has also called for equal treatment of ...

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CasaOne raises $50 million from Credit Suisse

After Azim Premji Objection, Credit Suisse Reaches Out to Snapdeals Minority Shareholders