Digital lending platform RevFin has raised undisclosed amount of Seed Funding from a clutch of angel investors. The startup will use the fresh capital to launch its services and grab the prospect opportunity in the Indian market. The startup will also use the funding to improve its technology infrastructure and enhance its distribution.
Last Week's Deals
Asia-focused investment firm ThomasLloyd has acquired a significant stake in SolarArise India Projects, which owns and operates 130 MW of grid-connected solar power projects in India. The investment is expected to help SolarArise expand its capacity by approximately 250 MW. Following the investment, ThomasLloyd will become the largest shareholder in SolarArise.
Shared workspaces start-up Innov8, owned by Guerilla Infra Solutions Pvt. Ltd, has raised a $4 million pre-Series A round led by Credence Family Office. Innov8 will utilize the capital to expand its footprint beyond Delhi NCR, Mumbai, Bengaluru and Chandigarh. It had raised an undisclosed sum in angel money from Lets Venture and Venture Catalysts in February 2017.
Intracity last mile logistics provider LetsTransport has raised $12 million in a fresh funding round from Shanghai-based VC Fosun International, which primarily invested in India through its venture capital arm Fosun RZ Capital. Two other investors of Japanese origin also took part in the latest funding round. Fosun International has invested $5 million of the total amount in LetsTransport.
Kishore Biyani-led Future Enterprises Ltd acquired a 55% stake in Mumbai-based fintech startup LivQuik Technology (India) Pvt. Ltd, which operates the QuikWallet mobile app. The Future Group subsidiary it intends to pick up the remaining stake in the company over the next two years to set up its own payment gateway for digital transactions. With this acquisition, it is likely to use its own back-end as a gateway. It processes 65% of its transactions digitally, as compared to 35-40% in the pre-demonetization days.
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