Entreprenuernewsnetwork

Fintech NBFC LivFin Raises $2M

LivFin India Private Limited, situated in Delhi, has raised $2 million in venture loan from BlackSoil, a significant NBFC and notable credit player. Livfin, a Delhi-based fintech NBFC, has been providing supply chain finance to mid-to-large corporations since January 2018, by setting up programmes to lend to their suppliers/vendors and distributors/dealers/retailers using a ‘Anchor’-based financing … Read more

Microlender Annapurna Finance Raises Rs 30M

Annapurna Finance, a microlender, revealed on Tuesday that it has raised USD 30 million in a new investment round headed by Nuveen Global Impact Strategy, an impact investor. According to an official release, the financing would enable it extend its credit portfolio to include women borrowers under the joint liability group and self-help group models. … Read more

Jaipur-based NBFC SK Finance raises Rs 400 Cr

In a Series F round of funding, SK Finance, a Jaipur-based NBFC, raised Rs 400 crore (about $53 million) from IIFL Wealth and other new investors. TPG Growth, Norwest Venture Partners, Baring India, and Evolvence India Fund are among the investors in Ess Kay Fincorp, which was founded in 1994 and originally known as Ess … Read more

Digital distribution platform RIPPLR raises $12M

Ripplr, a tech-enabled distribution and logistics ecosystem platform, has announced a pre-Series B round of funding of $ 12 million. The round included equity and debt investments from Sojitz Corporation and Stride Ventures, as well as existing investors 3one4 Capital, Zephyr Peacock India Growth Fund, and Chand Family Office – Yukti, as well as eminent early- stage angel investors Vivek and Abhay (Licious founders), Aniketh & Ashish (Solution Infini (now Kaleyra) founders). Speaking on … Read more

Fintech Startup Paisagrowth Raises $250K

Paisagrowth

Paisagrowth, a fintech business, announced today that it has acquired $250,000 in initial funding from GSF, a leading startup accelerator, and other investors. Anurag Tiwari, a former Business Development Manager at Loansimple, Aabhas Tripathi, a former top Strategy Executive at Fitso, and Abhishek Sharma, a former Vice President of Engineering at Loansimple, founded the company … Read more

Paytm Payments Bank and MoneyGram partner to offer international remittance directly to Paytm Wallet

India’s homegrown Paytm Payments Bank and MoneyGram International, Inc. (NASDAQ: MGI), the global leader in the evolution of digital P2P payments, today announced a partnership to enable MoneyGram customers globally to send money in real-time to a Paytm Wallet user in India. This is an important milestone in the digitization of the Global Receive Network. With this … Read more

Minko raises $1.5 million in seed round

Minko, a retail financial platform that provides loan facilities to small Kirana and retail shop owners, has secured $1.5 million in a seed round. LetsVenture Founder and CEO Shanti Mohan and Kunal Shah, Founder of CRED, participated in the round, which was led by LC Nueva AIF, an India-domiciled Category II AIF Fund with LC … Read more

Razorpay raises $375M in Series F at a valuation of $7.5B

Razorpay

Razorpay, a fintech company founded by Lone Pine Capital, Alkeon Capital, and TCV, has secured $375 million in a Series F round led by Lone Pine Capital, Alkeon Capital, and TCV, and plans to extend its B2B payments business to Malaysia, Vietnam, Indonesia, and the Philippines by next year. Existing investors such as Tiger Global, … Read more

Liberty General Insurance Partners CSC e-Governance Services India to Expand Rural Reach

Liberty General Insurance, one of the fastest growing General Insurance companies in India today entered into a partnership with CSC e-Governance Services India under the Ministry of Electronics and Information Technology (MeitY), Government of India. Through this agreement Liberty will further strengthen its presence in rural areas across India by selling its insurance products through the CSC network. Initially, the company … Read more

Mesh Payments Raises $50 Million Led By Tiger Global

Mesh-Payments

Mesh Payments, a leading corporate payment and spend management platform, announced today that it has raised $50 million in Series B funding led by Tiger Global. Other investors include Entrée Capital, Falcon Edge Capital and existing investors TLV Partners and Meron Capital. Mesh plans to use the funding to continue its accelerated growth, expand its … Read more

Paytm Payments Bank Gets RBI’s Approval For Scheduled Bank Status

The Reserve Bank of India (RBI) has approved Paytm Payments Bank to operate as a scheduled payments bank, the company announced on Thursday, allowing it to extend its financial services operations. Paytm Payments, as a scheduled payments bank, can participate in government and company RFPs, main auctions, fixed-rate and variable-rate repos, and reverse repos, as … Read more

Slice-backer 8i Ventures raises $50M in Fund II

8i Ventures, based in Mumbai, has secured $50 million for its Fund II, with the goal of investing in fintech firms since the creator believes that “every customer friction point in finance and consumer represents a billion-dollar startup opportunity.” In 2020, the early-stage investment firm will raise its first fund of $13 million. 8i Ventures, … Read more

DBS Bank India Introduces An Industry-first Digital & Paperless Trade Financing Solution

In the current environment, there is a need to drive digitised trade for Corporate customers to reduce processing turnaround time and drive businesses efficiently. In light of the latent need, DBS India has introduced a paperless proposition for the financing of domestic invoices by buyers and sellers. The bank now digitally validates the e-Way Bill … Read more

Cashfree Payments Enters Into MENA Region Via Equity Investment Of $15M In Telr

Cashfree Payments (Cashfree), a leading payments and API banking solutions firm, made a $15 million equity investment in Telr, a major Payment Service Provider (PSP) in the UAE and Saudi Arabia. Cashfree becomes one of the company’s largest shareholders as a result of this transaction. Telr, an award-winning payment gateway solutions provider based in the … Read more

Mumbai Based Drona Pay raises $500K in seed funding

Drona Pay, a Mumbai-based SaaS solution, has raised $500K in a seed round led by Varanium Capital, Credit Saison, and fintech experts Kunal Shah, Jitendra Gupta, Amrish Rau, and others. Drona Pay, founded in 2021 by Satish Kashyap, Pallavi Narvekar, and Sukhdev Sinh Zala, provides real-time protection for financial institutions using ml and proprietary data … Read more

True Balance Raises $30M In Debt Funding

truebalance-logo

True Credits, an NBFC and an affiliate of True Balance, an RBI-authorized lending firm, was founded by Balancehero India Private Limited, a wholly-owned subsidiary of Balancehero Co Ltd Korea, and launched a $30 million debt financing on Tuesday. In FY2021, the third round brought the total debt raised to $55 million. Northern Arc, Arthmate, Shine … Read more