Venture firm Matrix Partners India, an early investor in ride hailing app Ola and classifieds portal Quikr, has raised a further Rs 730 crore or $110 million to boost the corpus of its second fund. The fund raise comes at a time when a Co-Founder Rishi Navani is leaving the firm, which will now b…
Companies, Finance & Markets
Foodpanda considering another round of investments
Foodpanda.in is considering yet another round of investments this fiscal as it focuses on more human capital, new technologies and products. Saurabh Kochhar, Founder and CEO of the food-ordering application company, told reporters here on the sidelines of an ASSOCHAM event that this year the comp…
Muthoot Capital diversifying into SME Sector, looks to increase loan book to Rs 2,500 Cr
Muthoot Capital Services Q3 net up 14% to Rs 6.06 cr Muthoot Capital Services standalone net profit rises 13.48% in the December 2015 quarter Muthoot Capital Services fixes record date for interim dividend Muthoot Capital Q2 net rises 15% to Rs 6 cr Muthoot Capital Services Q3 net up 14% to Rs 6.…
US fund Maverick in online pharmacy startup
US-based investment fund Maverick Capital Ventures is leading a Rs 100-crore financing round in 1mg, formerly HealthKartPlus, as investors continue to be bullish on the huge potential of online pharmacy startups. The Sequoia Capital-backed 1mg had spun off last year from its parent HealthKart and…
Mudra Bank helps Janalakshmi to unlock capital
Mudra Bank, which is Narendra Modi government’s gift to Indian banking aiming to grow lending towards small businesses, has invested Rs 50 crore in a securitisation deal with Janalakshmi Financial Services helping the latter unlock capital. This marks MUDRA’s first ever participation …
TPG leads $210-million funding in Janalakshmi Financial Services
TPG has led a $210-million (about Rs 1,400-crore) funding round in Janalakshmi Financial Services, as the global private equity major along with existing investors, double down on the country’s largest Microfinance Institution (MFI). The round, which has a mix of primary and secondary compo…
Paytm leads $10-million funding
Online mobile wallet major Paytm has led the Series-B round of funding for on-demand auto-rickshaw aggregator, Jugnoo, for $10 million (Rs 66.65 crore). Last October, Chandigarh-based Jugnoo had received funding of $10 million from the Vijay Shekhar Sharma-led company. This is the Series-B2 round…
NestAway raises $30 m in series C funding
NestAway Technologies Pvt Ltd, the Bangalore-based leader in the ‘managed’ home rentals market, has raised $30 million in a Series C financing led by Tiger Global, Yuri Milner, the Russian billionaire investor/founding partner of DST Global and IDG Ventures India. Flipkart’s former head of operat…
Paytm plans aggressive expansion of online travel business
Paytm plans an aggressive expansion of its online travel business by branching out into rail, road, airline and tour bookings in order to drive more traffic to its portal that is largely payments driven. The company has partnered services marketplace Ezeego1 for hotels and flight bookings and is …
Gujarat e-commerce entry tax will pose challenges | Nasscom
The bill by Gujarat government to levy entry tax on interstate e-commerce transactions will pose significant commercial challenges to all stakeholders, industry body Nasscom said on April 14. “This levy of entry tax poses significant challenges both commercially and operationally for the e…