Breakfast Deals

HackerRank raises $30 million in Series C funding

Date posted: Thursday 15 February 2018

Coding and recruitment platform HackerRank has raised $30 million in a Series C round led by US-based JMI Equity with participation from existing investors Khosla Ventures, Battery Ventures, Randstad and Chartline Capital Partners. HackerRank will use the new capital to accelerate its growth in the enterprise space, expand its community and also advance its data science research and development.

(ET Tech)

RBI new bad loan rules may improve prospects of loan recovery

Date posted: Wednesday 14 February 2018


The Reserve Bank of India’s (RBI) decision to tighten norms for resolution of stressed loans, currently estimated at over Rs10 trillion, will improve recovery prospects from bad loans but keep banks’ provisioning requirement at an elevated level. The central bank withdrew a host of norms such as strategic debt restructuring (SDR) and scheme for sustainable structuring of stressed assets (S4A) among others, and made the process time-bound. The new rules stipulate that starting 1 March, lenders must implement a resolution plan within 180 days for accounts of at least Rs.2,000 cr.

(Live Mint)

PremjiInvest leads $71 million funding in US-based payments firm YapStone

Date posted: Wednesday 14 February 2018

YapStone, a global payments platform for large marketplaces, has raised $71 million at the first close of its Series C funding round led by PremjiInvest. The US-based company is looking to raise up to $100 million for its Series C round. The new funding takes the total amount raised by YapStone to nearly $187 million so far.

(DealStreet Asia)

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