Fintech Zoom - 29th February 2020
The final week of February noticed fintech firms hogging the funding limelight, regardless of a decline within the general quantum of funds raised by Indian startups.
Within the week between February 24 and 28, the whole funds raised by Indian startups stood at $183.23 million in fairness unfold throughout 14 offers. Nonetheless, the whole funding raised was down by 39 p.c in comparison with the earlier week, which raised the whole of $254.56 million. This week, UPI funds and digital lending startup BharatPe raised $75 million (or Rs 535 crore) as a part of its Sequence C funding spherical led by US-based Ribbit Capital and hedge fund Coatue Administration. Apart from that, Flipkart-owned digital funds firm PhonePe raised around Rs 427.25 crore from its dad or mum agency in one other spherical of funding.
Progress-stage funding dominated the whole quantity raised at $136 million, adopted by early-stage funding at $24 million, and late-stage funding at $22.eight million. This week, Bengaluru-based MinionLabs raised an undisclosed quantity from Indian Angel Community. The funding spherical was led by outstanding IAN buyers Kaushik Rajan of Kochi Holding Personal Restricted and R Mohan Kumaramangalam.
For more information on this press article, visit https://fintechzoom.com/fintech_news_fintech/weekly-funding-roundup-startups-raise-over-183m-in-equity-deals-this-week-fintech-in-limelight/
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