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FinTech Startup EarlySalary Raises USD 4 Million From IDG Ventures India & Others

10May By AdityaNo Comments

FUNDING

FinTech Startup EarlySalary Raises USD 4 Million From IDG Ventures India & Others

EarlySalary India’s first FinTech startup to offer Salary Advances and Instant Cash Loans has announced its Series A funding of $4 Million from IDG Ventures India (IDGVI) and Dewan Housing Finance Corp Ltd (DHFL). The company focuses on helping young working professionals get Instant Loans and Salary Advances in minutes and is fast becoming the first line of credit to young working Indians. More than 80% of its customer base is in their first career roles and most of them are new to credit and are first time borrowers. Over the past year, EarlySalary developed its Underwriting System which is a self-learning Algo Based Decisioning System. The System in real time reviews Social Media and Credit Bureau data of customers and helps approve the loan for them. Targeted at young working pro...

Digital Community For Women POPxo Raises 20 Crore Funding

POPxo, a digital community for women, has raised Rs 20 crore (USD 3.1 million) in fresh funding, led by IDG Ventures India and Kalaari Capital. The investment round also saw participation from GREE Ventures (Japan), Summit Media (Philippines), Atul Goel and Gurpreet Singh, POPxo said in a statement today. POPxo had previously raised over Rs 15 crore in funding through multiple rounds from investors including IDG Ventures India, Kalaari Capital, Google executive Rajan Anandan, Caratlane executive Mithun Sancheti and others. "Our platform allows women to connect with others. We focus on leveraging our large user base to generate transactions beginning with affiliate e-commerce, across categories," POPxo founder and CEO Priyanka Gill said. The platform attracts over nine million users...

Healthifyme a Mobile Based Fitness Startup Raises $6 million Funding

HealthifyMe, a mobile health and fitness startup today announced Series A funding of USD 6 million (about 40 crores) led by IDG Ventures India, Inventus Capital and Blume Ventures. The funding comes just a year after announcement of seed round led by angel investors and Micromax, the company said in a release. Stating that HealthifyMes funding comes on the back of strong growth, it said adding that with in a years time, the company has scaled up users to 5,00,000 from 30,000 users in January 2015. The funds will be used to further develop its digital coaching platform and to accelerate growth in India, the company said. "With these funds we plan to impact 5 million users and tie-up with over 500 corporate and healthcare partners. Our aim is to be the best in the world and we wi...