#Marketwire: Paytm Launches Small Loans for Merchants & More


#Marketwire is your quick summary of notable market movements in the technology industry. The firms covered in this segment include Paytm, Y Combinator, Freshdesk and Snapdeal

Paytm Launches Small Loans for Merchants

One97 Communication Ltd, which operates Paytm, has partnered with financial institutions such as Capital Float, to offer loans to merchants such has kirana stores, auto and taxi drivers and milk cooperatives based on their payments history. These small loans would be in the range of Rs 10,000 to Rs1 lakh, which can be increased later based on the eligibility criteria and the working capital needs of merchants. Read More

Three Indian startups Selected by Y Combinator

Three Indian startups, Innov8 co-working space, self-drive car rental app JustRide, and Meesho, an app for sellers on Facebook and WhatsApp. These startups have been selected by YC for a 3 month programme based out of its Mountain View headquarters. The accelerator invests $120K in startups for a 7% equity stake. Earlier, YC has funded two Indian startups – ClearTax, an online tax return filer, and payments gateway Razorpay. Read More

Tiger Global-backed Freshdesk Sees Interest from Global Investors

Freshdesk, the cloud – based customer support platform that is also backed by Google Capital and Accel Partners, has got an offer from a US based strategic investor for purchasing a stake at a valuation of more than $500 million. In April 2015, Freshdesk raised $50 million from its existing investors Tiger Global, Google Capital and Accel Partners, taking the total money raised by the company to $94 million. Read More

Snapdeal: Transition in Softbank will Have no Impact on Us

Jayant Sood, Chief Customer Experience Officer, Snapdeal said,”Snapdeal is not looking to raise more money any time soon. At present, they are comfortably funded. They haven’t even utilized the last funding received. According to Sood, Nikesh Arora’s sudden resignation from Softbank, which has been the largest shareholder in Snapdeal, does not put future investments in question.

Related Read:  #Marketwire: Amazon Prime Launched in India; Byju to Raise $50M & More

Sood added that Nikesh has been a great supporter and mentor to our business and they look forward to the same in the future, Softbank will continue to provide financial and strategic support to their company and the transition in the company will have no impact on their business. Read More

Image Source: Paytm