Here’s a wrap of the highest startup tales right this moment (March 25).
Khatabook acquires Biz Analyst to strengthen tech choices for MSMEs
Fintech start-up, Khatabook has introduced the acquisition of Biz Analyst, a number one SaaS enterprise administration utility, in a deal value $10 million as a mixture of money and fairness. With this acquisition, Khatabook goals to leapfrog into the subsequent section of progress and provide its buyer base of over 10 million month-to-month lively retailers a chance to scale up their companies by utilising premium value-added companies. Creating a more in-depth integration with their upstream provide chains — distributors, wholesalers, merchants, and suppliers — Khatabook customers can now seamlessly avail further options to enhance their effectivity by enterprise analytics, gross sales power automation and digital invoicing.
Launched in late 2016, Biz Analyst presently has over 80,000 paid customers and now as part of Khatabook, goals to double the person base in 2021 and create greater alternatives for the community of its 1,000+ channel companions. The Biz Analyst workforce will proceed to run independently, retaining Mumbai operations whereas sustaining synergies with the Khatabook headquarter in Bangalore. The authentic co-founding workforce of Biz Analyst Vaibhav Vasa, Mehul Sutariya, and Nilesh Zaveri will now be part of Khatabook’s management workforce.
Niyo companions with Equitas Small Finance Bank to launch NiyoX
Digital banking fintech, Niyo right this moment introduced the launch of Niyo X, a state-of-the-art cell banking answer for millennials in partnership with Equitas Small Finance Bank and Visa. With this launch, the corporate goals to on-board 2 million clients by calendar yr finish 2021. NiyoX comes with options similar to Zero p.c fee on mutual funds funding, ‘0’ account upkeep fees, and as much as 7 p.c curiosity on account balances.
NiyoX can also be a 2-in-1 account that gives its customers entry to a full wealth administration suite moreover the financial savings account. The complete wealth administration suite powered by Niyo Money offers Zero fee mutual funds, facility to trace all of your investments at one place, robo advisory and a function that rounds up your bills and invests the change. Niyo will quickly launch home and internationals shares on the platform.
Zolo launches Zeassetz
A number one firm in co-living areas in India, Zolo has launched Zeassetz, a tech-enabled co-living property funding platform. Zeassetz provides a hassle-free investing expertise with tech-driven property administration, excessive rental yield (1.5 – 2x of market worth) and end-to-end tenant administration.
The firm claims, this platform will create a brand new asset class by opening doorways to funding within the subsequent technology dwelling, labelled because the ‘Co-living Revolution’. The enterprise says with low Net EMI (EMI minus Rental) assured greater returns, Residential High Yield Assets and common upward revisions of rental with out the stress of discovering tenants makes this an interesting funding for seasoned and first-time traders.
Zipaworld’s strategic stake in Radiant X-Ways Logistic to seize the home logistics market
Zipaworld, the logistics e-Mall of India has invested a stake in Radiant X-Ways Logistic, a 10-year-old home logistics big excelling in specific distribution and home transportation by air and floor. The quantity has not been disclosed by both of the events.
Radiant X-Ways Logistics caters to the specific distribution; first, center and last-mile connectivity requirement of an enormous clientele which incorporates prime digital manufacturers, vehicle spare-parts producers; pharmaceutical producers and distributors. This funding comes quickly after the launch and implementation of Zipaworld’s Ocean Freight digital platform. The Board of Directors of Radiant X-Ways Logistic has nominated Dr Ambrish Kumar, the founding father of Zipaworld, because the Chairman of Radiant.
LenDenClub is now the primary P2P lending platform on Google Pay
LenDenClub, a peer-to-peer (P2P) lending platform in India has built-in with Google Pay and is now dwell on its platform. The enterprise claims, it’s the first P2P lending firm to combine with the tech platform. With this integration, clients of GPay can now lend and borrow by LenDenClub as seamlessly as they will make funds by the platform. LenDenClub provides debtors hassle-free loans, throughout 19,000 pin codes throughout the nation. With its integration on GPay, customers can now entry companies provided by the model proper from the Google Pay app interface.
Borrowers can go to the ‘InstaMoney’ spot on GPay and get loans ranging anyplace between Rs 5,000/- to Rs 12,500/- transferred to 1’s checking account inside minutes. Similarly traders can go to the ‘LenDenClub’ spot on GPay and make investments as little as Rs 500 thereby providing loans to debtors immediately. The make investments choice will probably be dwell in just a few days. The Spot function is presently obtainable on Android, whereas the iOS model will probably be launched within the coming months.
In Funding News
Drip Capital closes $40 million dedicated Warehouse Credit Facility from East West Bancorp to facilitate commerce finance to small companies
Drip Capital, a number one Fintech supplier of cross-border commerce finance and East-West Bank, have introduced a $40 million dedicated credit score facility for the enlargement of Drip’s commerce finance options to small and medium-sized companies. Drip Capital provides commerce financing options within the US and growing markets like India and Mexico by giving their purchasers entry to working capital rapidly. Drip works with over 1,500 sellers and consumers unfold throughout 80 plus nations. The FinTech agency has financed over $1.2 billion of worldwide commerce since its inception in 2016.
“Drip is growing at a rapid pace and institutional partnerships are a cornerstone of our capital markets strategy. The partnership with East West Bank represents a significant milestone for our company. It will further accelerate our ability to provide fast and seamless financing to global exporters and importers. We are excited to work with Mark Parsa and the EastWest team as we scale up our operations to service many more customers,” stated Pushkar Mukewar, co-founder and CEO at Drip Capital.
Community ecommerce platform MetropolisMall raises $11 million
Social ecommerce and on-line grocery platform, MetropolisMall has raised $11 million in a Series A funding spherical. While Accel Partners has led the funding for this spherical, Elevation Capital who led the $three million seed spherical in June 2020, continues to again MetropolisMall. WaterBridge Ventures participated within the spherical too. The proceeds of this funding will probably be employed to strengthen MetropolisMall’s provide chain, logistics community and develop its footprint to 20 new cities in tier II, III and IV markets. It goals to proliferate its community of group leaders to 200ok+ and 2Lakh+ clients by 2022.
Founded in 2019 by Angad Kikla and Naisheel Verdhan, MetropolisMall is a group commerce platform designed for the subsequent 400 small cities, cities and villages of India for on a regular basis use merchandise like grocery, FMCG, contemporary in addition to sure house and kitchen associated merchandise. Since its seed spherical led by Elevation Capital in June 2020, MetropolisMall has achieved 25x progress in revenues as of right this moment, constructed a powerful community of greater than 20,000 group leaders that serve over 2 lakh clients throughout their communities.
Edtech startup Masai School raises $5 million led by Omidyar Network India
Career-focused training startup, Masai School has raised $5 million in a Series A funding spherical led by Omidyar Network India joined by present traders Unitus Ventures, India Quotient and AngelList India. This new spherical of funding comes lower than a yr after Masai School raised its Pre-Series A spherical in August 2020, led by Unitus Ventures.
Masai School started operations in June 2019. Headquartered in Bengaluru, the startup follows the the Income Share Agreement, which permits college students to ‘Study Now and Pay Later’. Till date, Masai School has graduated 200+ college students throughout eight batches, with a placement charge of 91 p.c at a median CTC of Rs 6.75 lakh each year, the corporate stated. With the most recent funding, the corporate will launch new packages in User Interface and User Experience designing, Product Management and Data Analytics; along with strengthening the present choices of Full Stack Web and Android Development.
Silk provide chain platform ReshaMandi raises $1.7 million
ReshaMandi, an agritech startup digitizing India’s silk provide chain has raised $1.7 million in seed funding. The spherical was led by Omnivore and Strive Ventures with participation from Axilor Ventures and Supply Chain Labs (Lumis). ReshaMandi is constructing a full-stack platform for organizing the silk provide chain, offering companies together with high quality testing, technical advisory, high-quality inputs, and market linkages at every node of the silk provide chain.
Recently, ReshaMandi launched its D2C model Amraii, with the imaginative and prescient of promoting silk attire at cheap charges. Since commencing operations lower than a yr in the past, ReshaMandi has reached an ARR of $30 million. The startup is working with greater than 2300 farmers and has IoT gadgets deployed throughout 10 rearing facilities. The enterprise plans to make use of this funding to strengthen its digital platform and develop past Karnataka, establishing a presence in different necessary Indian silk hubs similar to Maharashtra and Tamil Nadu.
Anar Business Community App raises funding from Titan Capital, First Cheque & others
Anar, a enterprise group platform for nearly 70 million companies in India, has raised an undisclosed quantity of funding led by Titan Capital. The funds will probably be used to strengthen the core product choices. A major pie of the funds will probably be utilized in constructing a expertise stack that may enable the platform to ship a greater expertise for its customers. Founded in February 2020 by Nishank Jain and Sanjay Bhat, Anar has 1 lakh+ companies registered on the platform. Anar is enhancing small & medium enterprise communities by serving to them to construct their community on-line and offline offering entry to new merchandise, present market developments and data to innovate their enterprise into the broader market.
