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With Fin-Tech Poised As The Next Big Thing, Payments Startup happay Bags US$500K

E27.CO: On the sidelines of LetsIgnite (an event organised for angel investors in India by online deal-making platform LetsVenture on April 22), leading VC funds like IDG Ventures and Lightspeed Venture Partners told e27 that fin-tech is the next industry — after consumer Internet — that is poised to see the most number of actions in the coming years. Bangalore-based seed-stage VC fund AngelPrime has sensed this opportunity early on and invested US$500,000 in city-based happay, a startup which makes expense management cashless, paperless and mobile. (more…)

Deals, India, InspirAsia

April 23, 2015

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Mobile money: why isn’t the M-Pesa effect hitting more countries?

THE GUARDIAN: Access to financial services via mobile phones has proven to be a huge boost to development. Why aren’t more countries following Kenya’s success? (more…)

Fintech news, India, InspirAsia, Mobile payments/banking

April 16, 2015

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Zomato Acquires Cloud-Based MaplePOS To Move Beyond Reviews

E27.COZomato, the online restaurant guide, has acquired MaplePOS, a cloud-based point of sale product for restaurants at an undisclosed sum. It has already renamed the MaplePOS product to Zomato Base. (more…)

Deals, Fintech news, India, InspirAsia

April 15, 2015

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Temasek Acquires SVB India Finance For $48.1M To Foray Into Venture Debt

TECHINASIA: Singapore’s sovereign wealth fund Temasek has acquired SVB India Finance, the largest provider of debt financing to VC-backed firms in India. The deal is worth INR 3 billion (US$ 48.1 million). (more…)

Deals, India, InspirAsia, Singapore

April 14, 2015

Restaurant

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Restaurant Classifieds Site Zomato Eats Up An Additional $50M In Funding

TECHINASIA: Barely five months after raising US$60 million, restaurant finder app Zomato has swallowed another US$50 million in a fresh round of funding from existing investor Info Edge, a public listed online classifieds firm, among others. Info Edge alone pitched in US$24 million. (more…)

Deals, Fintech news, India, InspirAsia, news

April 13, 2015

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Meet The New Foreign Funds Betting Big On The Indian Internet Space

E27.CO: Internet is one of the hottest and the most sought-after sectors in India that saw VCs pouring in billions of dollars of investments as of late. The success stories of homegrown giants such as Flipkart, Snapdeal, Quikr, Urban Ladder and Ola are prompting foreign investors to throw some huge bucks into the market, although many of these companies are yet to achieve profit. (more…)

Fintech news, India, InspirAsia

April 10, 2015

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Indian Payments Startup MobiKwik Nabs $25M From Tree Line, Cisco, AmEx And Sequoia

TECHCRUNCH: The rise of e-commerce in India has triggered a wave of startups that are leveraging the increasing adoption of smartphones to provide mobile payment solutions. Alibaba invested in Paytm at an apparent billion dollar valuation earlier this year, and now MobiKwik is the latest to be flushed with new cash. New Delhi-based MobiKwik has pulled $25 million in funding, led by Singapore-based hedge fund Tree Line Asia. The deal included participation from a couple of interesting strategic investors — Cisco and American Express. (more…)

Deals, eWallets, Fintech news, India, InspirAsia

April 8, 2015

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Indian E-Commerce Giant Snapdeal Buys Bill Payment Service FreeCharge

TechcrunchSnapdeal, the SoftBank- and eBay-backed online commerce company in India, has completed what it called “one of the biggest acquisitions in the history of the internet industry in India” after it announced the acquisition of online transaction service FreeCharge. (more…)

Deals, Fintech news, India, InspirAsia, Mobile payments/banking

April 8, 2015

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Yuri Milner’s DST Global Invests Over $200 Million In Ola Cabs.

TOFLER: For the past few weeks, speculation has been rife that Russian Venture Capitalist Yuri Milner’s DST Global was set to invest $500 million in online cab aggregator Ola Cabs. The wait is now over. The latest funding round closed last week when ANI Technologies Private Limited, the owner of Ola Cabs, issued Series G of Preference Shares to various funds within the DST Global umbrella and to some of its existing investors. The company’s filings obtained from the Registrar of Companies reveals the list of investors and the money each has invested in these preference shares. (more…)

Deals, Fintech news, India, InspirAsia

April 7, 2015

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Snapdeal Forays Into Financial Services; Acquires RupeePower

E27.CO: Indian online marketplace Snapdeal has  announced its foray into financial services with the acquisition of a majority stake in RupeePower, a digital financial products distribution platform, for an undisclosed amount. The e-commerce player will now offer consumers a financial services marketplace by integrating RupeePower onto the Snapdeal platform. It aims to enable US$1 billion consumer loans disbursal over the next two years.

(more…)

Deals, India, InspirAsia

April 1, 2015

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Indian fin-tech startup Artoo gets US$500K funding

E27.CO: Bangalore-based Artoo IT Solutions, a startup that offers customer relationship management solution to banks and financial institutions, has secured US$500,000 in funding from seed-stage investor Accion Venture Labs and Rianta Capital Zurich’s impact investment unit Artha Initiative. The startup will use the capital to enhance its product functionality, build team and scale operations globally. (more…)

Deals, Fintech news, India, InspirAsia, news

March 26, 2015

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Razorpay Offers Stripe-Style Payments Focused Squarely On Indian E-Commerce Plays

TECHCRUNCH: The rise of companies like FlipkartSnapdeal and Ola have put a spotlight on the e-commerce opportunity in India, where the growth of catchy businesses is being fuelled by consumer demand, improving Internet connectivity and generous VC funding. Now, a new startup called Razorpay — part of the current Y Combinator class — is hoping to ride that trend, by giving more startups and larger tech companies in the country the ability to make it easier to integrate payments into their services. (more…)

Fintech news, India, InspirAsia, Mobile payments/banking, news

March 22, 2015

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Indian Business Baron Ratan Tata Invests In Paytm

E27.CO: Chairman Emeritus of Tata Sons Ratan Tata has made an undisclosed amount of investment in mobile payments and commerce company Paytm. With this investment, Tata will pick up a small stake in One97 Communications, the company that owns and operates Paytm. He will also take on the role of an advisor at the company.

(more…)

Deals, Fintech news, India, InspirAsia, news, p2p-payments

March 13, 2015

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India’s Top Mobile Wallet App Adds Support For Payments To Bank Accounts

TECHCRUNCH: Paytm, a India-based mobile payments service operated by (now) Alibaba-backed One97, has introduced a big new feature that lets 25 million users transfer money to bank accounts. Mobile wallets, like that of Paytm, have grown in popular in India, where credit card adoption is low and many services, including online retailers, process a lot of cash-based transactions. (Its billion-plus population is estimated to have just 450 million bank accounts, with many unused.) Wallets are at the intersection of that, providing greater reliability than cash, but without requiring users to get bank accounts.

(more…)

eWallets, Fintech news, India, InspirAsia

March 13, 2015

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ChargeBee takes the pain out of subscription billing, raises $5M from Tiger Global, Accel

TECHINASIA:  Cloud-based billing platform ChargeBee has just announced its series B funding round of US$5 million led by Tiger Global. Its existing investor Accel Partners participated in the latest round. ChargeBee provides its clients with an easy plug-and-play interface to accept payments through a choice of 30 gateways, such as Authorize.Net, Braintree, Stripe, PayPal, eWay, Pin Payments, AmazonPayments, and WorldPay.

(more…)

Deals, India, InspirAsia

March 11, 2015