Listed below are some of the major news of the startup sector, take a look to stay updated:
Visa may invest in BillDesk, valuing the company at $1.5-2 billion
Digital payments network Visa is close to investing over $250 million in Mumbai-based payments gateway BillDesk, valuing the company at around $1.5-2 billion, three people familiar with the development clarified. Bill-Desk, which had earlier been in discussions for a strategic sale, has decided to opt for a financing round, these people said. The fundraising, sources said, is a mix of primary and secondary transactions.
BillDesk is the largest online payments processing company in the country and competes with the likes of Naspers-backed PayU, CCAvenue and a bunch of younger startups like RazorPay.
E-tailer Aahaa Stores raises $2 Mn
New Delhi-based office supplies e-tailer Aahaa Stores has raised $2 Mn in its third round of funding from a UAE-based global investment Group Calega.
The company plans to utilise the latest funding to expand business across new verticals and geographies. Also, it is looking to upgrade its technology, and enrich infrastructure by inducting more independent service providers and mobilizing superior talent.
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Waste management firm Nepra raises Series B funding
Nepra Resource Management Pvt. Ltd, a waste management company that operates under the ‘Let’s Recycle’ brand, has raised Rs 44 crore ($6.5 million) in its Series B round of funding.
The funds were raised from existing impact investor Aavishkaar and new impact investor Asha Impact, Nepra said in a statement.
The funding will help Ahmedabad-based Nepra Resource expand to three more cities and help build the foundation for expansion across the country over the next five years, CEO Sandeep Patel said.
Fintech startup Sqrrl raises funds in pre-Series A round
Sqrrl Fintech Pvt. Ltd, which owns and operates investment app Sqrrl, has raised $1 million (Rs 6.8 crore) in a pre-Series A round of funding from Equanimity Venture Fund, which counts emerging markets guru Mark Mobius as a member of its investment committee.
The company said that the fresh capital will be used to pursue aggressive growth and add to its product and tech prowess.
Sqrrl also aims to invest in new-age technologies, especially machine learning and artificial intelligence, to sharpen its product recommendation and smoothen its on-boarding process.
Today’s Take Away:
Taking risks is an intrinsic feature of being an entrepreneur. No one can become a successful entrepreneur without taking the necessary risks.
Reid Hoffman, entrepreneur, VC, author says,
“An entrepreneur is someone who jumps off a cliff and builds a plane on the way down.”
