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The merged entity will operate under the InsuranceDekho brand and will be led by founder and CEO Ankit Agrawal.
The Bengaluru-based fund is targeting a corpus of Rs 150 crore, with a Rs 50 crore greenshoe option.
The shares were picked up by a clutch of institutional investors, including Integrated Core Strategies (Asia), Singularity Large Value Fund III and F3 Advisors.
The funding round also saw participation from existing investors Arkam Ventures and Capital 2B.
The company also plans to continue hiring senior bankers and investment specialists as it scales the new platform.
The funding round saw participation from DoorDash, Lachy Groom, Lightspeed and Humba Ventures.
The funding round also saw participation from India’s national badminton coach Pullela Gopichand, Darwinbox co-founder Rohit Chennamaneni, Swiggy co-founder Nandan Reddy and other angel investors.
The Japanese financial services group took the decision to wound down its lending-infrastructure business in December.
The value of securities brokers and dealer transactions via the unified payments interface (UPI) jumped 21.01% month-on-month to Rs 73,752.37 crore in July from Rs 60,945.24 crore in June.
The investment comes as the Sachin Bansal-led fintech firm prepares to file documents for initial public offering.
The company has appointed former Bajaj Markets executive Manish Pathania to lead the digital lending business.
In this piece, we write on Hella Infra using Shalimar Paints for a backdoor listing after a year of rating trouble and debt refinancing; and how protests against Google's proposed data centre have opened up a larger conversation around water...
BofA and Jio Financial Services have entered into a JV deal under which the US banking major will pick up shares through a preferential issue and warrants.
The funding round also saw participation from existing investors including Lightspeed India Partners and Burman Family Office, among others.
The funding round also saw participation from DeVC, Antler India, Panthera Peak, and a group of angel investors.
Foxhog and its CEO Tarun Poddar are swiftly stepping into government corridors, IIT campuses, and media conclaves – all to burnish their image as a VC player.
The latest funding round valued the Delhi-based startup at Rs 45 crore.
The fintech company has also elevated Dhruv Wadhera as Senior Vice President (SVP), Offline Payments.
According to the data revealed by the Ministry of Finance in a reply to Parliament, UPI fraud incidents surged by 85% in FY24.
