Future Consumer Enterprise Limited (FCEL) July 2, 2016 said it would raise Rs 134 crore from the World Bank’s investment arm International Finance Corporation (IFC). FCEL, a part of Kishore-Biyani’s Future group, has entered into an agreement with IFC and as part of that it would issu…
Companies, Finance & Markets
After SMEs, HDFC bank mulls digital services for big corporate
After launching comprehensive digital banking services for small and medium-sized enterprise (SME) clients on June 30, private sector lender HDFC Bank is now working on doing the same for its large corporate clients, country head – business banking — Aseem Dhru told. With the launch on June 30, t…
MasterCard invests in online payment gateway solution ‘Razorpay’
American payments and financial services company MasterCard has invested an undisclosed amount in Razorpay, an online payment gateway solution for Small and Medium Enterprises and platforms. The equity-based investment in the company backed by Tiger Global is MasterCard’s second investment.…
CISCO to partner Indian startups, developers for smart solutions
Technology giant Cisco on June 30 announced its new ‘LaunchPad’ initiative under which it will partner with developers and enterprises in India to co-develop smart solutions. “Cisco’s teams will mentor start-ups and developers on how to help create digital solutions to enable enterprise customers…
Bank NPAs in Gujarat cross Rs 25,000 crore mark
Banks in Gujarat are seeing a “drastic jump” in the quantum of bad loans. In March this year, the Non-Performing Assets (NPAs) for the banks in the state have crossed the Rs 25,000 crore mark, with MSMEs forming the largest chunk of this NPA-pie. The latest report of the State Level Bankers’ Comm…
Online marketplace Paytm will deliver on same day in 20 cities
Online marketplace Paytm has scaled its online-to-offline (O2O) same day delivery across 20 cities in categories including large appliances and mobiles. The marketplace had started O2O deliveries in October 2015 to meet the demand for the festive season. The service allows sellers to charge a pre…
Airbnb seeks funds valuing it at $30 billion: Source
Apartment-sharing startup Airbnb is in talks for a new round of funding that would value the company at $30 billion, a source close to the company said on June 28. Airbnb intends to use the financing to support new investments and growth opportunities, the source added. The New York Times first r…
BCCL arm invests Rs 150 crore in Meru Cabs
Brand Capital, the investment arm of Bennett, Coleman and Co Ltd (BCCL), which owns The Times of India and The Economic Times newspapers, has invested Rs 150 crore ($25 million) in Meru Cabs. Earlier this month, there were reports of Flipkart selling an undisclosed portion of stake to BCCL. While…
Capgemini to partner with startups in India from fields of data analytics, IoT
French multinational Capgemini is looking to partner with startups in India from the fields of data analytics, artificial intelligence and Internet of Things (IoT) and build a bridge for these ventures to enter international markets, a top executive said. As part of Capgemini’s Applied Inno…
Five star business credits raises Rs 114 crore from Morgan Stanley PE Asia
Five Star Business Credits, which provides loans to micro entrepreneurs, has raised fresh funding of Rs 114 crore from investment firm Morgan Stanley Private Equity Asia, which has now acquired a minority stake in the Chennai-based company. The Matrix Partners-backed venture, registered as a non-…