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West Creek Raises $150 Million to Expand its Point-of-Sale Financing

19Oct By AdityaNo Comments

FUNDING

West Creek Raises $150 Million to Expand its Point-of-Sale Financing

RICHMOND, Va.-- West Creek, a fast-growing fintech company that provides innovative point-of-sale financing, announced it secured a $150 million credit facility from Pollen Street Capital, bringing West Creek’s total credit facility capacity to $250 million. This expanded capacity enables West Creek to maintain its rapid growth. Since 2015, West Creek’s revenue has grown over 4,400% and will surpass $200 million for 2019. West Creek partners with over 8,000 retailers nationwide and has helped over 250,000 customers in purchasing essential items, including furniture, mattresses, appliances, tires, and HVAC systems. “This new credit facility represents a significant milestone for West Creek and allows us to continue to transform point-of-sale financing,” said Rajesh Rao, chief financia...

Flipkart Cofounder Invest $100 Million in Indian Fintech Firm, Becomes CEO

25Sep By PriyankaNo Comments

FUNDING

Flipkart Cofounder Invest $100 Million in Indian Fintech Firm, Becomes CEO

25th Sept, 2019- Flipkart co-founder Sachin Bansal, who sold his part of equity and exited the e-commerce major with USD 1 billion in payout announced an investment of Rs 739 crore (close to $100 million) in Bengaluru based lending firm CRIDS. The percentage of shares has not been disclosed. The 37-year old billionaire invest $100 million in two part, where $20 million is in secondary transactions to buy out share of existing investors. Unlike his past bets, where he has played the role of a financial investor alone, Bansal will lead the lending firm as its chief executive officer. Bansal had sold out his stake in Flipkart when the American retail giant Walmart acquired the majority stake in the ecommerce platform co-founded by Bansal and his friend Binny Bansal last year. ...

Fintech Firm BharatPe Raises USD 50 mn from Investors

26Aug By AdityaNo Comments

FUNDING

Fintech Firm BharatPe Raises USD 50 mn from Investors

BharatPe, a fintech firm has raised USD 50 million (about Rs 350 crore) in its latest round of equity financing. This was led by leading global fintech investor, Ribbit Capital and London-based hedge fund, Steadview Capital, BharatPe said in a statement. Existing investors Sequoia Capital, Beenext Capital and Insight Partners also participated in the round. Having established one of the largest networks of merchants in India, connected through UPI based payment services, BharatPe has emerged as one of the fastest growing fintech companies in the country, it said. Within one year of launch, the company has achieved USD 1 billion annualised total payments volume (TPV) and facilitates over 18 million UPI transactions monthly, it said. https://pixr8.com/funding/ecobillz-rai...

Lendingkart Raises $2.95 Million from Sistema Asia Fund

16Aug By PriyankaNo Comments

FUNDING

Lendingkart Raises $2.95 Million from Sistema Asia Fund

India based Fintech company Lendingkart Technologies has raised $2.95 million in fresh equity funding from Sistema Asia Fund (SAF). With the latest infusion, the equity funding raised by Lendingkart stands at a total of USD 146 million, a statement said. The valuation of the company was not disclosed. "The latest funding round with the help of the existing partners have signaled strong support and trust in Lendingkart's vision of financial inclusion and digital accessibility for everyone," Lendingkart Technologies co-founder and Managing Director Harshvardhan Lunia said. Last week, Lendingkart Technologies had said it has received an equity funding of USD 30 million (Rs 212 crores) from Fullerton Financial Holdings, Bertelsmann India Investments, and India Quotient. In the cur...

12Aug By PriyankaNo Comments

FUNDING

Fintech Startup Aye Finance Raises $10 mn from Funding

Fintech company Aye Finance has raised USD 10 million (about Rs 71 crore) in funding from Zurich-based responsAbility Investments AG. The company had received USD 5 million from responsAbility earlier this year. "Aye will be utilising these additional funds to offer business loans to the excluded microenterprise sector to support their growth and enable their inclusion into the formal economy," a statement said. Aye raised USD 5 million from responsAbility through NCDs, while the balance USD 5 million has been issued from a securitisation pool raised by responsAbility that was arranged by JP Morgan. Key investors in this transaction include the Overseas Private Investment Corporation (OPIC) and Alecta. "We have found support from Indian and global leaders in our mission of p...

Fintech Platform Lendingkart Raises $30 Million

9Aug By PriyankaNo Comments

FUNDING

Fintech Platform Lendingkart Raises $30 Million

India based Fintech firm Lendingkart has raised a fresh equity funding of USD 30 million led by existing investors, including Fullerton Financial Holdings Pte Ltd (FFH), Bertelsmann India Investments and India Quotient. With this funding round, the total equity raised by Lendingkart stands at USD 143 million. "The funding will be used to expand lending bases, deepen Lendingkart Group's reach to small and underserved micro-enterprises and further strengthen its technological and analytics capabilities," company said. Credit Suisse acted as the exclusive financial advisor to Lendingkart Technologies. "This equity will help us meet the growth opportunities we are seeing. Micro and small businesses represent a vibrant yet underserved segment of the Indian economy," Lendingkart Tech...

6Aug By AdityaNo Comments

FUNDING

Indifi raises $21 million in Series C funding

Indifi Technologies, a Gurugram-based SME lending company raises $21 million in its series C funding round from the CDC Group, along with existing investors such as Accel India, Omidyar Network, Fair Finance Fund, and Elevar Equity, according to data sourced from the Registrar of Companies. Indifi was co-founded in 2015 by Alok Mittal and Siddharth Mahanot and is mostly engaged in lending to small and medium enterprises. The company works to digitize the lending processes of these small businesses. In 2016, it had closed its series B round when Omidyar Network led the process to invest $10 million in the company. As per details filed with the ROC, Indifi has received Rs 100 crore from the CDC Group, followed by 23 crores from Accel India, and Omidyar Network and Fair Finance Fund ...

18Jul By PriyankaNo Comments

FUNDING

MyMoneyMantra raises $14.8 million funding from IFSD BV, Vaalon Capital

Fintech startup MyMoneyMantra raises $14.8 million from Dutch investment company IFSD BV and Vaalon Capital. Both investment groups picked up a minority stake in the company. MMM serves over four 4 million customers from over 50 cities and has partnered with more than 90 financial institutions, a statement said. The company was responsible for originating about USD 1 billion of credit-related products in FY2019, it added. "This investment is a fantastic endorsement from an international partner and comes at an opportune time, as we are eager to capture an even larger share of the rapidly expanding Indian consumer market," MMM founder and Managing Director Raj Khosla said. Founded in 1989 by Raj Khosla, MMM as a fintech firm distribute secured and unsecured loans, insurance...

PayU Acquires Majority Stake in Singapore-based Red Dot Payment

5Jul By NitishNo Comments

ACQUISITION

PayU Acquires Majority Stake in Singapore-based Red Dot Payment

Online payment firm PayU acquired a majority stake in Singapore based Red Dot Payment, a Southeast Asia focused online payment solutions provider. Under the terms of the agreement, PayU has acquired a majority stake in RDP in a transaction valuing the company at $65 million. With this transaction, PayU expands into the Southeast Asia region and brings the total amount deployed in fintech investments and M&A to north of $700 million over the last three years. The move demonstrates PayU's commitment to becoming the leading payments solution provider in high-growth markets and one of the largest fintech investors in the world. Formed in 2011 by a group of payment experts from various Fortune 500 companies in the industry, RDP has grown into Singapore's largest home-grown and t...

5Jul By PriyankaNo Comments

FUNDING

Fintech startup Propelld raises $2 million funding

A strategic Education financing startup, Propelld which enables student education loan has raised $2 million in Series A funding from Stellaris Venture Partners and Indian Quotient. Propelld, a prominent name in a fin-tech startup was founded in 2017 by Bibhu Prasad Das, Brijesh Samantaray and Victor Senapaty. Based in Bengaluru, Propelld helps in financing education of students pursuing vocational training courses in areas like machine learning, hospitality management, etc. Propelld has a wide network of tie-up with around 150 educational institutes across India. They raised a seed series round from IAN in 2018. AAS Regina Legal, assisted Propelld through the entire lifecycle of deal commencing from structuring the transaction, drafting and negotiating the term sheet transac...

18Jun By NitishNo Comments

FUNDING

Razorpay raises $75M funding led by Sequoia Capital

Razorpay raises $75 million series C round of equity funding from fintech Venture capital firm Ribbit Capital & Sequoia Capital. Tiger Global Management and Y Combinator’s Continuity Fund also participated in this round. Bengaluru based b2b payment solutions platform will use this funding to expand its operation and hire more people. Till date, Razorpay has raised about $107 million from Matrix Partners, MasterCard, and other angel investors. It had last raised equity capital in a round led by Tiger Global in early 2018. Founded by Harshil Mathur & Shashank Kumar in 2013, Razorpay is a payments company that provides payment solutions to online merchants in India. The company plans to use this fund to support its neo-banking platform Razorpay X and it...

3May By PriyankaNo Comments

FUNDING

Checkout.com Raises $230m in Series A funding

3rd May 2019, London-- Checkout.com, the global payment solutions provider has raised $230m in what is Europe’s largest fintech Series A round ever, and globally the third largest fintech Series A round of all time. The investment round was led by growth investors Insight Partners and DST Global. Singapore’s sovereign wealth fund GIC, Blossom Capital, Endeavor Catalyst and other strategic investors are also participating in the round. Checkout.com will use the funding to continue its rapid growth in Europe, the US, and the Middle East, with further expansion into Asia and Latin America. The fintech platform is the seven year old UK business, which is transforming the world of digital commerce by providing merchants with a solution that enables payments across all geographies and ...