Investments, News

#Fundingwire – FinTech Firm Finvasia Raises Investment at Rs 150Cr Valuation & More

Finvasia Founders, Left - Natty Virk (CEO, Finvasia), Sarvjit Singh Virk

Finvasia Founders, Left – Natty Virk (CEO), Right – Sarvjeet Singh Virk (MD)

#Fundingwire is your dose of notable investment announcements in the technology ecosystem. Firms which have recently raised investment include Finvasia, Runnr, Mobikwik, Zolo and Loantap

FinTech Firm Finvasia Raises Investment at 150 Cr Valuation in Pre-Launch Phase

Chandigarh-based financial services firm Finvasia has raised an undisclosed amount of investment at a valuation of Rs 150 crore. The round was led by Intrinsic Investment Limited, and saw participation from a few other venture capitalists.

Finvasia was founded in 2009 by Sarvjeet Singh Virk and Natty Virk. The investment was raised in first week of August 2016, and the FinTech platform was launched on 15th August 2016. The company aims to take the middleman out of an average investor’s portfolio by providing an easy to use platform for trading. It will use the investment to build its technology platform and scale it further. At present the company is planning to launch 12 products in the next 24 months, including AI driven analytics tools to help investors in their decision making.

Company’s Managing Director Singh says that they want to bring all possible components of the finance industries online, and make profitable trading easier for all sorts of investors. The company will charge a subscription fee for using the platform with zero brokerage fee on investments made through it. Know More

Runnr Raises $7M Led by Nexus Venture Partners & Blume Venture Partners

Bangalore-based Runnr has raised $7 million in investment co-led by Nexus Venture Partners and Blume Venture Partners. Runnr was formed in May 2016, after the merger of food ordering app startup TinyOwl and hyperlocal delivery startup Roadrunnr. Nexus VP and Sequoia Capital were early investors in both the entities prior to merger.

TinyOwl’s founders and investors, including Nexus, Sequoia and Matrix collectively hold around 17% in Runnr. Read More

Mobikwik to Raise $40M from Net1 UEPS

Gurgaon-based Mobikwik is raising $40 million from NASDAQ-listed electronic payments firm Net1 UEPS. The transaction would be a part of its Series C round which it had announced in May, where it had raised an undisclosed amount led by Japan’s GMO payment gateway and Taiwanese semiconductor company MediaTek.

Payments firm Mobikwik was founded in 2008 by Bipinpreet Singh and Upasana Taku. It has raised $85 million till date. Read More

Skill & Talent Marketplace Zolo Secures Seed Investment

Noida-based on demand skill & talent marketplace Zolo has raised an undisclosed amount of seed investment from Switzerland based Software firm Hitouch AG.

Zolo was founded in September 2015 by Manish Tahilliani and Satayu Basu. It provides a platform for artists, business consultants, freelancers, entertainers etc. to take online bookings for their services. Read More

FinTech Startup Loantap Raises $3M in Series A

Mumbai-based online lending startup, Loantap has raised $3 million in Series A round of investment led by Abhishek Pandey and Jaysukh Sapra. The FinTech platform offers flexible EMI-free loan to working professionals.

The company was founded in May 2016 by Satyam Kumar and Vikas Kumar. It has disbursed loans worth Rs.70-75 lakh across 36 borrowers in the age group of 22-36 years. Read More

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