Capital Float Raises $22 million Equity Funding From Amazon And Other Startup News That You Need To Know


Listed below are some of the major news of the startup sector, take a look to stay updated:

Capital Float raises $22 million equity funding from Amazon

Digital lending firm Capital Float (Zen Lefin Pvt Ltd) said it has raised $22 million (Rs 144 crore) in equity funding from Amazon Inc., taking the total equity funding in the company to $107 million.

The current funding from Amazon is part of Capital Float’s Series C round in August 2017 when it raised $45 million from Palo Alto-based Ribbit Capital and existing investors SAIF Partners, Sequoia India, and Creation Investments.

Founded in 2013 by Gaurav Hinduja and Sashank Rishyasringa, Capital Float is an NBFC registered with the Reserve Bank of India (RBI). It offers specialized credit and financial loans to businesses and utilizes its own proprietary loan underwriting system to lend to potential borrowers.

Blume, Goldbell invests $1.6 Million in car-service startup Pitstop

Bengaluru-based car repair and servicing startup Pitstop has raised $1.6 Mn in a Pre-Series A funding round from its existing investors Blume Ventures and Singapore-based Goldbell Group.

The startup intends to use the funding to scale up its ‘Doorstep service’ across Bengaluru and Delhi-NCR along with building high-end technology to support the infrastructure.

The company also wants to strengthen their business strategy and build a platform that enables mobility and add great convenience to users thereby creating a hyper-local service model through a fleet of mobile vans plying across the geographies. invests Rs 3 Crore in ShoeKonnect (InfoEdge India) invested Rs 3 crore in ShoeKonnect, a B2B marketplace startup for the global footwear industry. The funding will be used by the company for strengthening its technology base to scale up operations and expansion in terms of the user base of footwear buyers and sellers across India.

Bizcrum Infotech that owns the brand ShoeKonnect is a marketplace platform which enables footwear enterprises from local organized or unorganized manufacturers to connect, communicate and transact on its mobile app. It was co-founded in 2015 by Siddharth Vij, Chaitanya Rathi, and Siddharth Rastogi.

Paytm eyes to acquire Alibaba-backed TicketNew

Digital payments and e-commerce company Paytm in advanced talks to acquire Chennai-based online movie ticketing platform TicketNew as it aims to strengthen its entertainment ticketing business.

Paytm will acquire TicketNew from Alibaba Pictures at the price at which the latter had bought it, sources close to the development said. The deal will be anywhere between $30 million and $40 million. The acquisition is likely to be completed by next month

Today’s Take Away:

An entrepreneur has a number of things to work on and an equal (if not more) number of things to oversee. Stress is an inevitable by-product of the life of an aspiring entrepreneur. But if we sit down and start counting the number of jobs that one has done it would only increase the exasperation.

Like Zig Ziglar, a motivational speaker says,

“Don’t count the things you do, do the things that count,”