Fintech startup Balance has raised funding from discount broking firm Zerodha, which has invested through its Rainmatter fund. Balance is set to launch an app designed to help individuals make smart savings and invest in low-risk mutual funds.
DriveU, an on-demand driver aggregator, has acquired Chennai-based DriversKart for an undisclosed amount. With this acquisition, DriveU continues to consolidate its position as India’s premier driver aggregator for both consumers and businesses.
R Sridhar, who recently joined Everstone-backed IndoStar Capital Finance, has infused around INR 100 crore into the company. The financial-services veteran has joined IndoStar as executive vice-chairman and chief executive officer, taking over from Vimal Bhandari, who had led the firm since 2011.
MXC Solutions India Pvt Ltd – which operates online automobile classifieds platform CarTrade has acquired vehicle inspection and valuation venture Adroit Inspection in an all-cash deal.
The family office of YES Bank founder and chairman Rana Kapoor, which is run by his three daughters, plans to invest $150 million to incubate and fund new businesses. The family office named The Three Sisters is keen to invest in sectors including education, tourism, family entertainment centres, and agri-logistics.