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PharmEasy's comeback followed a costly Thyrocare bet, founder's cash-outs, and a founder-investor deal outside the captable.
The round values the digital banking startup at $450 million, marking a steep decline from the $1.5 billion it commanded in 2022.
The approval marks another step in Zerodha’s strategy to diversify its business outside core stock broking.
ICICI Prudential Life Insurance Company was the largest buyer in the transaction, acquiring 1.03 crore shares worth nearly Rs 160 crore.
The latest deal comes days after another large block transaction on August 28, when nearly 2.95 crore Lenskart shares worth Rs 1,857 crore changed hands at Rs 630 apiece.
PayGlocal said that the FinCEN registration will help it build the compliance, banking and payments infrastructure needed to support its US operations.
The merged entity will operate under the InsuranceDekho brand and will be led by founder and CEO Ankit Agrawal.
The funding round also witnessed participation from several industrial entrepreneurs and existing investors, including Nikhil Sawhney and Varun Agarwal.
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 latest sale marks Ribbit Capital’s second major share sale in Groww this year.
The company also plans to continue hiring senior bankers and investment specialists as it scales the new platform.
The acquisition comes just months after C2i Semiconductors raised Series A funding led by venture capital firm Peak XV Partners.
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.
Nexedge plans to use the fresh capital to strengthen its technology platform, expand its senior banker network and increase its presence across India, including in tier-II and tier-III cities.
The appointments have been approved by the company’s board, and the Reserve Bank of India (RBI) has also cleared Samir Sawhney’s appointment as Executive Director.
Along with the new role. Nare will continue as the company's Chief Financial Officer (CFO).
The latest funding round valued the Delhi-based startup at Rs 45 crore.
MobiKwik and Lendbox struck a deal where MobiKwik gave up Rs 24 cr in income for Q1 FY25, and in return, Lendbox waived Rs 42 cr in facilitation fees. These adjustments impacted MobiKwik's current quarter's revenue and expenses.
