Fintech executives eye new e-pay entity’s licence
Nov 16, 2020The race for the proposed new umbrella entity (NUE) for retail payments is heating up. ItzCash founder Navin Surya and Infibeam Avenues executive director Vishwas Patel are joining forces to set up a new firm to apply for the NUE licence with the RBI.
Logistics company Xpressbees raises $110 million as e-commerce booms
Nov 9, 2020New age logistics startup XpressBees has raised a new round of $110 million from Norwest Venture Partners, Investcorp and Gaja Capital as the demand for e-commerce delivery services has reached new high due to the Covid-19 pandemic.
Will be top delivery company by revenue: Delhivery
Oct 29, 2020SoftBank-backed logistics major Delhivery would emerge as the largest supply chain company in India by revenue, its joint MD & chief business officer Sandeep Barasia told TOI. This comes at a time when the company said it’s “ready” for an initial public offering (IPO) in the next 12 months and is considering both Indian and overseas markets for it.
Tatas eye up to 51% in Bigbasket
Oct 28, 2020The Tata Group is exploring the acquisition of a large stake in Bigbasket in a deal which has the potential of being the biggest investment by a local conglomerate in a new-economy business. The salts-to-software conglomerate has discussed taking up to 51% stake in the grocery e-tailer. This will include a fresh capital infusion for business expansion besides the purchase of shares from existing shareholders
‘India may see 10 startup IPOs in 3 yrs’
Oct 20, 2020India could see at least 10 internet companies going public in 2-3 years. This, after the financials of startups became more real and viable in the long term with less dependence on equity capital funding, according to one of India’s top venture capital investors.
Razorpay sixth Indian unicorn in pandemic year
Oct 12, 2020In the midst of a pandemic, India now has half-a-dozen unicorns as payment startup Razorpay’s valuation more than doubles to $1 billion with its latest $100 million fund-raise -- co-led by Singapore’s sovereign wealth fund GIC and marquee venture capital firm Sequoia Capital. For Razorpay, the pandemic has accelerated its journey to the coveted unicorn club as the Bengaluru-based company saw five times growth in transaction value to $25 billion.
IIFL Wealth raises new Rs 1,300 crore fund
Oct 10, 2020IIFL Wealth Management is closing a new private equity fund of about Rs 1,300 crore in a record time frame of about three weeks, said sources briefed on the matter. The new fund, raised by its unit IIFL Asset Management, underlines the appetite for private investments among India’s ultra-wealthy despite the ongoing pandemic.
Treebo Hotels raises Rs 45 crore to ramp up software biz
Oct 8, 2020Budget hospitality brand Treebo Hotels has raised Rs 45 crore from its existing set of backers - SAIF Partners, Matrix Partners India, Ward Ferry and Bertelsmann India - even as the company braces for a long recovery for the sector from the Covid-19 pandemic.
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