SoftBank to Invest $1.9 Billion in One 97 Communication

One97 Communications, Parent company of Indian payment and e-commerce company Paytm, is set to acquiring the funding of more than Rs 12,000 crore ($1.9 billion) from SoftBank, Japanese media and telecom conglomerate through a single funding round which will be the largest funding round for an Indian ecommerce company. Deal valued the company at $9 …

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Grofers Moves Towards Offline Stores Across Delhi NCR

Grofers, Gurugram-based hyperlocal grocery delivery startup, is about to gain profit along with market share through its step towards initiating 15 offline stores across Delhi-NCR. Startup has two kinds of stores According to Money Control report, the startup has established two kinds of stores: Franchise stores and Tuck Shops. It is also on the way to have a …

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Wallet Licence of Citrus acquired by PayU Has Been Cancelled

According to the latest list of entities that holds Prepaid Payment Instruments (PPI) licences propelled by Reserve Bank Of India, Citrus Payment solution gave up its wallet licence. The Mumbai-based fintech startup was owned by PayU, Naspers-owned global payments player in previous year. Citrus Payment solution’s Customers will move to PayU Amrish Rau, cofounder of the company …

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Ratan Tata Sponsored Urban Clap Come Up With $3 Mn Capital From Trifecta Capital

UrbanClap, Gurgaon Based mobile services marketplace, has acquired almost $3.1 Mn funds from Trifecta capital via non convertible debenture bond. As per the company records at Registrar of Companies, UrbanClap has also given equity shares through convertible preference shares to Trifecta. UrbanClap UrbanClap was established by Raghav Chandra, Abhiraj Bhai, and Varun Khaitan in October …

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Government Sets Up Rs 623.5 Crore Fund For VCs

17 local Venture Capital funds were sanctioned by the Government’s Fund-of-Funds (FOF), an investment strategy, amounting to INR 623.50 crore last year. The investment was planned to support Venture Capitals who could invest in start-up. VCs invest in 62 stratups According to a data revealed by #DIPP (Department of Industrial Policy and Promotion) and #Sidbi ( Small Industries …

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Ola Looks For $100 Million Funding To Reinforcing Its Business

Cab service provider giant OLA is raising $100 million from current shareholders for it’s expansion plans. Intense rift between Ola and Uber Ola, currently indulged in an intense rift with its contender Uber, had recently raised funds amounting to Rs 1,675 crore from its Japanese investor, SoftBank. The endorsement was for issuance of adaptable securities at Rs 13,521 …

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eBay To Sell It’s Indian Leg To Flipkart In Second Half Of The Year

eBay, American ecommerce corporation, serves B2C and C2C sales, is about to finish sale of India business to the ecommerce giant Flipkart in the beginning of next half of 2017. It expects to strengthen it’s hold in the Indian marketplace through its put a sum of $500 million and partnership with the Flipkart. CEO of the company …

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Movie Ticketing Business Of Paytm Made GMV Of Values More Than Rs 400 Crore

Paytm, Ecommerce and E-payment giant, revealed that it’s movies ticketing business that was launched in March of previous year has prompted a GMV of over Rs 400 crore, and it is giving a competition to its rival BookMyShow in this regard. Paytm provides a platform to book online tickets in over 550 cities for more …

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Bigbasket and Grofers India in talk for Hook-Up

On Wednesday, Mint reported that BigBasket, Online grocery delivery service, and its rival Grofers India are in talks for potential merger. About the deal According to the report, if the deal of fusion will go through the earlier investor of Grofers named SoftBank Group, will engage in $60-$100 million of funding round in resultant company. …

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