Mumbai-based Jhakaas Technologies Pvt Ltd, which runs the Jhakaas app that aggregates local offline businesses, has raised INR 1 crore (around $154,000) in seed funding from a clutch of investors. The funding will be utilized to develop the technology platform and boost merchant awareness.
Aeries Financial Technologies Pvt Ltd, which operates personal loan app CASHe, has raised INR 25 crore in Series A funding led by Mathew Cyriac, former India co-head of private equity at Blackstone Group LP. CASHe disburses short-term personal loans of INR 5,000-1 lakh to young professionals based on their earning potential and social quotient.
Venture capital firm Gujarat Venture Finance Ltd (GVFL) has invested INR 30 crore from Golden Gujarat Growth Fund-I in Ahmedabad-based premium homeware manufacturer Varmora Plastech Pvt Ltd. Varmora Plastech will use the capital to expand its product range and market reach.
Eruditus Executive Education, a provider of executive education programmes, has raised $8 million (about INR 53 crore) in a series-B funding round from Bertelsmann India Investments. The company will use the funds to add new programmes with the existing and new university partners as well as expand its geographical reach to China, Latin America and Europe.
Early-stage venture fund Unicorn India Ventures, which is set to close its maiden fund in the range of INR 100 crore, has made its first investment in the fintech space, leading a round of about half-a-million dollars in Bengaluru-based microlending startup SmartCoin. The startup offers loans starting from INR 1,000 and is targeting individuals beyond the salaried class, including cab drivers, delivery persons and kirana store owners, and has tied up with a few nonbanking finance companies (NBFCs).