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Zenoti raises $20 million from Steadview Capital

27Aug By AnkitaNo Comments

FUNDING

Zenoti raises $20 million from Steadview Capital

Zenoti Software, the leading cloud-based platform for the spa, salon and med spa industry secured $20 million in funding from Steadview Capital. On the heels of its recent $50 million Series C round, Zenoti intends this additional funding to expand the company's presence in the U.K. and bolster its global marketing efforts. The company has previously raised capital from Tiger Global, Accel, and Avataar investment firms. Additionally, the company announced that it has hired Guy Weismantel, a SaaS platform and technology industry veteran, to serve as Senior Vice President of Marketing. "Zenoti is realizing our vision of service entrepreneurs, addressing the most common pain points for business owners in the fast growing beauty and wellness industry with a cloud-based platform tha...

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...

25Aug By AdityaNo Comments

FUNDING

Ecobillz Raises Pre Series A Funding From 92 Angels

Belgaum-based digitisation start-up Ecobillz has raised an undisclosed amount in a pre-Series A round led by IIM Ahmedabad alumni-backed 92Angels. Ecobillz is a platform which leverages artificial intelligence (AI) and machine learning (ML) to digitise and aggregate information from documents. The funding will be used by the start-up for the expansion of the product and engineering teams and to augment the sales and go-to-market capacity. Founded in 2016 by Ameet Patil and Nitesh Singh Rathore, Ecobillz has solutions that can digitise documents downloaded from any software. Apart from its capacity of aggregating information through AI/ML, Ecobillz’s platform can derive insights from aggregated data through advanced analytics. 92 Angels is an angel network founded by Indian Ins...

22Aug By AdityaNo Comments

FUNDING

Better.com raises USD 160 mn funding

Better.com, an online mortgage platform in the US has closed a USD 160 million (about 1,144 crore) funding round from Activant Capital, Ping An Global Voyager Fund and Ally Financial among others. The series C round also saw participation from Citi, AGNC, Healthcare of Ontario Pension Plan (HOOPP) and American Express Ventures, who joined existing shareholders Goldman Sachs, Pine Brook, and Kleiner Perkins in the round, a statement said. "The capital we've raised will enable us to accelerate our investment in product development, grow our strategic partnerships, expand our team and scale our platform to continue making it easier for borrowers to get home financing," Better.com CEO and founder Vishal Garg said. Better.com said it has grown 3X year-on-year and is currently funding U...

Property Brokerage Platform Clicbrics raises USD 3 mn

15Aug By AdityaNo Comments

FUNDING

Property Brokerage Platform Clicbrics raises USD 3 mn

Tech-based property brokerage platform Clicbrics has raised USD 3 million (around Rs 20 crore) from investors for expansion. The pre-series A funding round was led by Manny Singh of Kavi Fund, New York; Peter Mann, Fund Manager at Gluskin Sheff, Canada along with a senior MD of one of the largest Canadian pension funds among others, the company said in a statement. It will use the fund to fuel expansion and growth in the Indian market, the company added. Delhi-based Clicbrics will continue to focus on tier-I and tier-II cities, targeting the real estate market in a bid to organize the sector. It is an AI (artificial intelligence) driven real estate brokerage platform and connects customers, brokers, and developers within its technology platform. https://pixr8.com/fundin...

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...

12Aug By PriyankaNo Comments

FUNDING

Meesho raises USD 125 mn in funding led by Naspers

Bengaluru-based Meesho said it has raised USD 125 million (around Rs 888 crore) in a funding round led by technology investor Naspers. The round also saw participation from Facebook and existing investors SAIF, Sequoia, Shunwei Capital, RPS and Venture Highway as well as former Vodafone Group CEO Arun Sarin. In June, Facebook had announced picking up a minority stake in Meesho, a startup that helps entrepreneurs set up online businesses via social channels. "The new funds will allow the company to make deeper inroads in areas outside India's major metro regions, by creating more entrepreneurs," Meesho said in a statement. The latest investment will also strengthen Meesho's aim to grow its community of women entrepreneurs and support expansion to new geographies, it added. Th...

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...

9Aug By AnkitaNo Comments

FUNDING

Online Jewelry Platform JewelMaze Raises USD 4 MN From Brand Capital

Mumbai, India, 09th Aug 2019: JewelMaze, an online Fast Fashion Jewelry marketplace has raised $4 million from Brand Capital, the strategic investment arm of Bennett Coleman and Co. Ltd. The business has grown for the past 2 years and the fund infusion will propel rapid expansion and widen their product base. Says Ritesh Barbhaya, CEO - JewelMaze, "The funding is the result of the brand’s focus on delivering quality products and building an online community with a robust ecosystem committed to delight the customer. We are very pleased to have Brand Capital as an investor which in turn provides us access to the BCCL platform enabling us to reach a wider audience." Adds, Sam Subramaniam, CEO, Brand Capital, "Brand Capital continues to encourage ambit...

8Aug By PriyankaNo Comments

FUNDING

LQI raises funding from Indian Singer Sukhbir Singh

August 7, 2019: Indian Singer Sukhbir Singh announced his first investment in Gurugram based beverage startup, LQI. LQI, is selected as the first startup by Mr. Singh for investment, out of 5 startups shortlisted by startup incubator company Startup Buddy for pitching. LQI is in the process of raising USD 200K and the Funds will be deployed to increase the production capacity and the geographical expansion to newer markets. As per the news, Singer Sukhbir investment amount is between 10 to 25 Lakhs. Founded in Mid-2016 by Shubham Khanna, Palak Kapoor, and Kapil Kumar, LQI uses their proprietary technology to manufacture Smoothie, Milkshake and Fruit Water frozen packs made with 100% raw fresh fruit with an increased shelf life of 2.5 months without use of any colors, flavors, ...

Gramophone raises $3.5 million from Info Edge & others

7Aug By AdityaNo Comments

FUNDING

Gramophone raises $3.5 million from Info Edge & others

Agri-tech startup Gramophone raises USD 3.5 million in funding from Info Edge, Raveen Sastry (Co-founder of Myntra.com), Asha Impact and Better Capital. Info Edge is an existing investor in Gramophone, while Asha Impact is a platform founded by Vikram Gandhi (former Credit Suisse executive) and Pramod Bhasin (former President and CEO of Genpact), a statement said. The startup is rapidly scaling up its operations and will use the funds to expand across other Indian states. Founded in 2016, Gramophone provides actionable agronomic insights coupled with last-mile delivery of agriculture inputs to farmers through a smartphone app and a call centre. The startup's last-mile delivery model has helped them serve over 2.5 lakh farmers in the remotest villages across central India. "W...

6Aug By AdityaNo Comments

FUNDING

GoWork raises $53 mn debt funding from BlackRock, CLSA Capital

Coworking space provider GoWork has raised USD 53 million (around Rs 375 crore) debt funding from US-based BlackRock and CLSA Capital Partner to expand its business. GoWork currently has two coworking centres at Gurugram in Haryana, spread over 8 lakh square feet with a capacity of 12,000 seats. "GoWork has raised USD 53 million from a private fund managed by BlackRock's Private Credit team, along with CLSA Capital Partners' Special Situations Group, in a round of debt funding," the Gurugram-based coworking firm said in a statement. This is the first onshore private financing transaction in India by global investment management firm BlackRock, it added. GoWork will use this funding to further scale the business and provide value-added services to its clients. GoWork CEO &am...