Thursday, April 25

Tag: SMEs

Back Office Startup Pilot Raises $60M in Series C Funding
FUNDING

Back Office Startup Pilot Raises $60M in Series C Funding

SAN FRANCISCO, 26th Jan 2020-- Pilot, the largest provider of back-office services for startups and small businesses in the US raises $60 million in Series C funding led by Sequoia Capital, doubling its total funding to $120 million including investments from Index Ventures and Stripe. The additional raise enables Pilot to expand its breadth of back office services that remove distractions and help companies focus on success in a challenging business environment. Back office operations like bookkeeping can be painful, expensive, and time-consuming, especially for small businesses,” said Pat Grady, partner at Sequoia. “Pilot combines intelligent software with a concierge approach to deliver a painless and even delightful back office experience. Pilot is doing for the back office wha...
Recko Raises USD 6 Million in Series A funding
FUNDING

Recko Raises USD 6 Million in Series A funding

Recko, a Bengaluru-based enterprise fintech startup that enables AI-powered reconciliation of digital transactions has raised USD six million in Series A funding. The investment was led by Vertex Ventures SEA and India, and saw participation from existing investor Prime Venture Partners. The fresh funding will be used for further product development, hiring and expanding its presence outside India, Recko said in a statement. Since it was founded in 2017, Recko has reconciled transactions worth USD five billion, it said. The startup has built a SaaS-based financial reconciliation product that, it said, keeps track of the complete transaction lifecycle and commercial contracts for organisations. Its customers include Grofers, Meesho, Dunzo and some of India's top marketplaces ac...
Mera Cashier Raises $150k from Bollywood Singer & Others
FUNDING

Mera Cashier Raises $150k from Bollywood Singer & Others

Sukhbir Singh, eminent Bollywood singer, India Accelerator, Boudhik Ventures, Shankar Nath (ex-CMO, PayTM) and Shaurya Garg (Founder, Fundoo Works) have invested $ 150K in FinTech startup Mera Cashier.  Sukhbir says "Mera Cashier is giving the user the gift of time which is extremely scarce in these days. He adds using "Mera Cashier" is a good decision for any businessmen." Launched in July 2019, Mera Cashier is an app for small and micro businessmen to record and manage credit transactions. The app boasts of some unique features like managing both credits taken from suppliers and credit given in the market, using QR code to record transactions thereby improving the efficiency of the business and one app that the user and his customers can download and view the transactions involved...
New Street Technologies raises USD $2 Million
FUNDING

New Street Technologies raises USD $2 Million

Bengaluru, March 25, 2019: Bengaluru-based technology company New Street Technologies has raised a USD 2 million investment led by Unitus Ventures & Other investors including Mohit Davar, Chairman, International Association of Money Transfer Networks etc. Founded in August 2017, New Street Technologies builds and operates blockchain enabled platforms for institutional clients. The company’s flagship platform – MIFIX brings together, banks, business correspondents and cash outlets to efficiently originate and manage credit through easy integration with existing systems and processes. MIFIX has a wide range of customers such as banks, non-banking financial corporations, and money transfer operators / networks in India and overseas. It is estimated that the market for sma...
DIPP Cancels Certification of Companies Posing as “Startups”
INDIA

DIPP Cancels Certification of Companies Posing as “Startups”

Department of Industrial Policy & Promotion (DIPP) has put an end to some certifications and issued warnings to organizations seeking to avail exemptions by categorizing themselves as "startups". In a recent meeting of Inter-Ministerial Group on Startups held on March 15, certificates of recognition and that of eligibility given to two entities- Riot Solutions and JVS Flow Control PC were revoked on account of failing to give a report on whether they were subsidiaries of some companies or working as individual organizations. A government official reported, "These organizations were sent queries by IMG a few months back but have not responded yet. Hence, IMG has revoked certifications issued to them. It should serve as a warning to others." IMG has come to know that certain fir...
WhatsApp Launches Business App for SMEs
News

WhatsApp Launches Business App for SMEs

Popular messaging platform WhatsApp today unveiled a new WhatsApp Business app, aimed at small and medium enterprises. The free-to-download Android app will make it easier for companies to connect with customers, as well as its 1.3 billion users to chat with businesses, WhatsApp said in a statement. WhatsApp Business is available today and free to download on Google Play in Indonesia, Italy, Mexico, the UK and the US, it added. The app will be rolled out around the world in the coming weeks, it said. Over 80 per cent of small businesses in India and Brazil said WhatsApp helped them both communicate with customers and grow their business, the Facebook owned company said citing reports. India is home to over 200 million WhatsApp users. It has more than one billion users global...
Know Which Group Insurance Policy Is Best For Small & Medium Enterprises
BLOGS

Know Which Group Insurance Policy Is Best For Small & Medium Enterprises

Group insurance plans are inexpensive and very beneficial plans for employees. If bought properly with right benefits these plans can cover vulnerabilities of the people who work for an organization. They will feel motivated and fearless from taking additional responsibilities which will ultimately lead to higher productivity and happier work-force.   Infographic Credits: Secure Now
A lady entrepreneur from AP runs an online truck booking platform lorryguru
Story

A lady entrepreneur from AP runs an online truck booking platform lorryguru

Two years ago, Manjusha wanted to move a load of granite stones from Chittoor to a place called Kadayam near Tenkasi in Tirunelveli district of Tamil Nadu. She hired a transport agent who failed to arrange for a suitable truck/lorry for moving the material. The agent wasted 4 days of time just trying to arrange for a vehicle. Manjusha used her contacts and found out that there was a vehicle 70 km's away from Chittoor in Renigunta, near Tirupati, that can transport her material to the destination. Manjusha told her transport agent about it on the second day, but he was not able to finalize it due to commission problems. (more…)