Sunday, November 17

Tag: fintech

Lendingkart Raises Rs 30 Cr From Dutch Development Bank
10Jan By PriyankaNo Comments
FUNDING

Lendingkart Raises Rs 30 Cr From Dutch Development Bank

Lendingkart Finance on Tuesday said it has raised Rs 30 crore in non-convertible debentures (NCDs) from Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden NV (FMO), a Dutch development bank that invests in growth and frontier markets. This new influx of debt funds will be used towards growing the loan book and expanding the reach of Lendingkart Finance across SME industries, Lendingkart said in a statement. As of today, Lendingkart Finance has disbursed over 20,000 loans to more than 13,000 SMEs across 23 sectors. "With a committed portfolio of 9.8 billion euros, FMO is one of the larger bilateral private sector development banks globally... This being our first foreign debt raise will open avenues for Lendingkart Finance's future foreign debt funding as well," Lendin...
Read More
Fintech Firm IndianMoney.com Raises $3 M From SRI Capital, Others
9Jan By AnkitaNo Comments
FUNDING

Fintech Firm IndianMoney.com Raises $3 M From SRI Capital, Others

IndianMoney.com has raised $3 Million from SRI Capital, a US-based early stage venture capital fund. Existing investors Hyderabad Angels and others also participated in this round. IndianMoney.com has been a pioneer in serving hundreds of thousands of middle income people who are deprived of unbiased financial information and education. The company will use this new investment to augment its capacity to educate about 100,000 people every day. Currently the company educates about 18,000 people every day. In the next 2-3 years, the company will ensure that its consumers get education, transactional guidance, ability to transact and custodian services in one place. The company plans to accomplish all these without watering down its core competency of being an unbiased support to the ...
Read More
FinTech Start-up EarlySalary Raises Rs. 100 Crores
4Jan By AnkitaNo Comments
FUNDING

FinTech Start-up EarlySalary Raises Rs. 100 Crores

EarlySalary, India’s first FinTech startup to offer Salary Advances and Instant Cash Loans, has announced its Series B funding of Rs. 100 Crores led by Eight Roads Ventures India. Existing investors IDG Ventures India, Dewan Housing Finance Corp. Ltd. (DHFL) and seed investor Mr. Ashok Agarwal also participated in the round. The company will be deploying these funds to accelerate its growth plans and target 100,000 loan disbursements per month by the end of 2018. The venture has disrupted the way young Indians are borrowing, replacing borrowing from friends, family and employers with borrowing real-time through a Mobile App from the comfort and convenience of their homes, and seeing money credited to their bank accounts instantly. The company has, for the first time, provided access to ...
Read More
FinBucket Raises INR 12 Crore to Expand its Loan Offerings
18Dec By AdityaNo Comments
FUNDING

FinBucket Raises INR 12 Crore to Expand its Loan Offerings

FinBucket.com , a loans and investments marketplace, has raised INR 12 Crore ($2 million) from Impanix Capital. The FinBucket platform helps to connect lenders and borrowers in India more efficiently by providing a user-friendly experience for consumers. It leverages a broader set of data which was not traditionally available to financial institutions in the market. FinBucket currently offers personal loan, home loan, business loan, credit card and mutual funds. Their unique match machine algorithms increase the chances of loan approval by connecting consumers to the right lending partner. FinBucket intends to use these funds in the growth of their business and reaching out to people who are in need of secured loans as well as unsecured loans. FinBucket is dedicated to serve their cu...
Read More
Fintech Startup Kissht Raises Funding From China’s Fosun International
6Nov By PriyankaNo Comments
FUNDING

Fintech Startup Kissht Raises Funding From China’s Fosun International

China based Fosun International has led a $10 million round of funding in Mumbai-based Kissht, an online lending startup owned by OnEMi Technology Solutions Pvt Ltd. The round, which was closed last week also saw participation from Kissht's existing backers, early-stage venture capital firms, Ventureast and Endiya Partners, according to the sources cited by Economic Times. The fresh equity funds will be used to expand its geographic presence, across India, fortify its data science capabilities and build its engineering and analytics team quoted source. The company plans to get "deeper" in tier II and tier III cities of the country. Also Read Indian Paper Packaging Segment Can Get A Lot From Ecommerce     App Developer Access To iPhone X Face Data Spooks Some Privacy E...
Read More
Lendingkart’s NBFC Arm Bags $25M From A Clutch Of Investors
30Oct By RishabhNo Comments
FUNDING

Lendingkart’s NBFC Arm Bags $25M From A Clutch Of Investors

Lendingkart Finance Ltd, the NBFC arm of fintech startup Lendingkart has raised around $25 million through debt and equity funding. The company raised this sum between August and September this year in multiple tranches from financial institutions and NBFCs including IFMR Capital, Capital First, Tata Capital Financial Services Ltd (TCFSl) and Manappuram Finance Ltd, as per the report by VCCircle. Earlier in September, Lendingkart raised Rs 70 crore in equity funds from Singapore based-  Sistema Asia Fund and its existing investors Bertelsmann India, Mayfield Capital, Saama Capital, Darrin Capital, India Quotient. Out of its current funding, the NBFC raise $9.2 million from its tech and digital marketing arm Lendingkart Technologies Ltd through debt of Rs 20 crore and an equity inf...
Read More
Money-Lending App CASHe Raises Rs 20 Cr Debt Funding
23Oct By PriyankaNo Comments
News

Money-Lending App CASHe Raises Rs 20 Cr Debt Funding

Aeries Financial Pvt Ltd owned CASHe has raised around Rs 20 Crore debt funding from IFMR Capital, as per the financial daily report. Mumbai based CASHe is one year old and plans to utilise fresh funds in accelerating its growth and build a loan book of subsidiary Bhanix Finance and Investment Ltd. The company had raised Rs 25 crore ($3.8 million) in series-A funding in April this year from former Blackstone PE head Mathew Cyriac and other investors. “The partnership aligns with our approach of taking exposure to high quality originators at an early stage to give them access to investors through structured product solutions,” said Kshama Fernandes, CEO, IFMR Capital. The startup disburses small amount, short-term loans to young and salaried professionals using an algorithm that det...
Read More
Fintech Among Top 5 Sectors For Funding In 2016: Deloitte
20Jul By Press Trust of IndiaNo Comments
ANALYSIS

Fintech Among Top 5 Sectors For Funding In 2016: Deloitte

Indian FinTech is one of top five markets by value of capital funding and investments in the sector with nearly USD 270 million of funding in 2016, according to a recent report. The report also noted that in medium-term fintech players will consolidate th (more…)
Read More
Online Financial Technology Marketplace Rubique Raised $3 Million
29Jun By AdityaNo Comments
FUNDING

Online Financial Technology Marketplace Rubique Raised $3 Million

Online financial technology marketplace Rubique today said it has raised USD 3 million (about Rs 19.38 crore) from its existing investors including venture capital firm Kalaari Capital. The company had last year announced that it intends to raise USD 10-15 million in a series B round. The funds will be used to strengthen technology product with data science methods and explore new product territories in insurance and mutual funds. The money has been invested by Kalaari Capital and Udayan Goyal, managing partner at Apis Partners, a financial services-oriented private equity firm, the company said in a statement. In April last year, Rubique had raised USD 3 million in series A from Kalaari Capital, YourNest Angel Fund, Globevestor and Dexter Angel Circle. "We will be leveragin...
Read More
Fintech Startup LoanTap Raises Rs 26 crore For Business Expansion
24Jun By AdityaNo Comments
FUNDING

Fintech Startup LoanTap Raises Rs 26 crore For Business Expansion

LoanTap Financial Technologies today said it has raised USD 4 million (about Rs 26 crore) in second round of funding, which will be invested in software and expand its footprint in tier 2 and 3 cities. "LoanTap Financial Technologies, an online personal loan company with in-house NBFC, has announced closing of its second round funding at USD 4 million," the company said in a statement. Post funding, LoanTap aims to bolster collection features in its software, besides reaching out to Tier 2 and Tier 3, major capital cities and business hubs. The fund raising round comprises of a mix of equity and debt instruments from Kae Capital, India Quotient, IFMR and MAS Financial Services Ltd. "Equity infusion to the platform was led by Kae Capital with participation from its existing inve...
Read More