Paytm Mall gets $160M from eBay, now valued at $2.9B
As part of this deal, eBay’s global inventory is being made available to over 130 million active users on Paytm Mall and Paytm’s app ecosystem.
Paytm Mall has secured $160 million from the US-based online marketplace eBay, according to data sourced from the Registrar of Companies.
Earlier this month, eBay had announced that it has picked up 5.5% stake in the Noida-based firm but had not disclosed the investment amount. At the time, sources close to the transaction had told ET the financing round is pegged at about $150 million. This transaction values the company at $2.9 billion. ET had reported the eBay funding in its April 22 edition.
Fintech startup Progcap raises $5 million in series A funding
The round was led by Sequoia India, with participation from MV Nair, Chairman of CIBIL, Sandeep Tandon, ex- founder of Freecharge along with existing investors GrowX Ventures Fund and Somak Ghosh.
Fintech startupProgcap said that it has recently secured $5 million as part of its Series A funding. The round was led by Sequoia India, with participation from MV Nair, Chairman of CIBIL, Sandeep Tandon, ex- founder of Freecharge along with existing investors GrowX Ventures Fund and Somak Ghosh.
Founded in 2017 by Pallavi Shrivastava and Himanshu Chandra, Progcap is a financial technology company which facilitates debt capital for underserved micro and small businesses in India. The venture leverages its innovative Last Mile Retailer Finance solution to enable access to collateral-free loans to retailers. This helps the company reach retailers operating in semi-urban and rural areas in India.
SoftBank to pump second Vision Fund with proceeds from the first
SoftBank is an investor in the first Vision Fund but also general partner, collecting management performance fees.
SoftBank Group plans to use proceeds from its first Vision Fund to bankroll the $38 billion it has committed to the second, a source said, in a show of unflinching confidence in its huge tech bets commanding sky-high valuations when sold.
The Japanese investment firm, led by artificial intelligence advocate Masayoshi Son, on Friday said it had secured pledges for a second Vision Fund totalling about $108 billion.
Scooter sharing app Bounce plans to raise $30 million
Existing investors including Accel Partners, Sequoia Capital, Chiratae Ventures and others are likely to lead the first funding round, one of the people said.
Scooter sharing app Bounce plans to raise $30 million exclusively for its electric vehicles subsidiary Zuink Smart Mobility Solutions, and has received in-principle board approval for the same, two people aware of the developments told ET.
Existing investors including Accel Partners, Sequoia Capital, Chiratae Ventures and others are likely to lead the first funding round, one of the people said.
PhonePe receives fresh infusion of Rs 698 crore from parent entity
The funding is a part of the $500 million capital commitment made by the e-commerce giant Flipkart for its payments business in 2017
Digital payments major PhonePe has received another tranche of funding from its parent entity, according to documents accessed from the Registrar of Companies. The Rs 698 crore of fund infusion has come from Singapore-based PhonePe Private Limited, which was previously known as Flipkart Payments.
The funding is a part of the $500 million capital commitment made by the e-commerce giant Flipkart for its payments business in 2017. The new tranche comes after Rs 743 crore was ploughed in by the parent entity in March this year.
Grab commits $2B to Indonesia with SoftBank’s backing
The investment will go toward creating a next-generation transportation network and transforming how critical services, like healthcare, are delivered
Southeast Asian ride-hailing firm Grab on Monday said it will invest $2 billion into Indonesia over five years using capital from Japan’s SoftBank Group, marking its biggest commitment in the region’s most populous market.
The investment will go toward creating a next-generation transportation network and transforming how critical services, like healthcare, are delivered, Grab said in a statement.
MindTickle secures $40M funding led by Norwest Venture Partners
MindTickle will utilise the funding to strengthen its products and expand outside the United States.
Sales enablement platform MindTickle has secured $40 million in fresh funding, led by US-based venture capital fund Norwest Venture Partners.
This comes at a time when Indian software-as-a-service (SaaS) companies are gaining prominence in global markets, drawing increased investor interest.
Existing investors Accel Partners, Canaan Partners, New View Capital – a spin out of New Enterprise Associates, and Qualcomm Ventures also participated in the Series C round.
Paytm Money to get Rs 250 crore, eyes low-cost broking business
After building a retail base of nearly one million active users through its direct mutual fund distribution platform, the company plans to disrupt the low-cost broking model
One97 Communications-promoted Paytm Money will put an additional Rs 250 crore in its investment platform in 12-18 months.
This will be on top of a Rs 80-crore investment made by the promoter in the first year of business. After building a retail base of nearly one million active users through its direct mutual fund distribution platform, the company plans to disrupt the low-cost broking model. It has already received approvals for providing stockbroking and depository services.
Eight Roads Ventures leads $12M round in StashAway
StashAway will use the proceeds from the Series B round for product development and market expansion, among others.
Eight Roads Ventures has led a $12 million (about Rs 83 crore) investment round in intelligent wealth management platform StashAway, the proprietary investment arm of Fidelity International Ltd said on Monday.
StashAway will use the proceeds from the Series B round for product development and market expansion, among others.
Udaan’s valuation may climb 3X in new financing
Udaan, founded by former top Flipkart executives Vaibhav Gupta, Amod Malviya and Sujeet Kumar, is estimated to be doing clocking $1.2 billion in annual gross merchandise value or GMV.
Udaan, an online marketplace that caters to small businesses, is close to raising around $500 million in fresh funds, which is likely to almost treble the company’s valuation from its previous round to $2.2 billion, pre-money, three people privy to the deal talks said. Post the investment, Udaan’s valuation will go up to $2.7 billion.
Existing backers Lightspeed Venture Partners and Yuri Milner’s DST Global are leading the financing round, while new investors including Hillhouse Capital and Altimeter Capital are likely to participate, the people said.
Indifi Technologies raises $21 million in series C funding round
Indifi was co-founded in 2015 by Alok Mittal and Siddharth Mahanot and is mostly engaged in lending to small and medium enterprises.
Indifi Technologies, a Gurugram-based new-age lending company, has raised Rs 145 crore ($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.
