Swiggy has raised an additional Rs 47 crore from existing investors Norwest Venture Partners, DST Global and Accel Partners, valuing the online foodordering startup at over Rs 865 crore or $130 million, filings with the registrar of companies show. The new round of funding gives the startup addit…
Companies, Finance & Markets
Anshu Jain, ex-colleague Bhupinder Singh to launch NBFC in India
Deutsche Bank’s former co-chief executive Anshu Jain is partnering with former colleague Bhupinder Singh to launch a non-bank finance company in India, counting on the millions underserved by the banking sector in his home country. The NBFC will lend to individuals, SMEs and entrepreneurs, …
RBI to regulate the peer-to-peer (P2P) lending business
The RBI’s move to regulate the peer-to-peer (P2P) lending business has evoked good response with most participants saying that it could provide greater confidence to lenders and borrowers, as also to venture capitalists. The space has some 35 startups now and more than 20 of them were found…
Ola and Neev Finance now help driver-partners’ Children Get to School
India’s most popular mobile app for transportation, has partnered with Neev Finance, to provide easy school education for the children of Ola’s driver-partners as part of its reward-oriented program for its driver-partners, Ola Stars. This first of its kind initiative allows loan options for driv…
India born Tally Solutions wins million customers globally
One of the most-preferred accounting software for SME/MSMEs, Tally Solutions, the premier Indian software product company, has announced its one millionth customer win across the globe. From its humble beginning in 1986, Tally Solutions today offers its solutions to a million customers in over 10…
Airbnb Banks on India, looks to grow at a faster clip
Home-share booking site Airbnb is confident of manifold growth in its business in India over the next few years, driven by a surge in volume of travellers using its platform and increase in number of listed properties. “India has seen tremendous growth in the last one year. About 17,000 pro…
IFC Leads Rs. 400 Crores Series D Investment in Lenskart
IFC, a member of the World Bank Group, is investing Rs. 171 Crores in Indian eyewear company Lenskart, to help the company expand access to high-quality and affordable eye-care products in tier-3, tier-4 cities. IFC was the lead investor for the Rs. 400 crores Series D investment round which also…
Kalaari seed programme backs three companies
Kstart, a seed-stage programme launched by venture fund Kalaari Capital in February 2016, has invested in three startups in its first batch. Affordplan, a fintech platform aimed at affordable healthcare; Indee, a secure platform for web video streaming; and Active.ai, an AI engagement firm for fi…
NSE to launch platform for financing SMEs against bills
The National Stock Exchange (NSE) is planning to launch a new trading platform for bill discounting or trade receivables of micro, small and medium enterprises (MSME). The country’s largest exchange has forged a joint venture with the Small Industries Development Bank of India (Sidbi) for the new…
Mobikwik raises $50 million in fresh funding from foreign investors
One MobiKwik Systems, which owns and operates online recharge and mobile wallet MobiKwik, has raised about $50 million (Rs 332.6 crore) in fresh capital, in a new round led by Japan’s GMO Payment Gateway and Taiwanese fabless semiconductor company MediaTek. The Series-C round, which closed …