news of the day

Fin-tech startup ePaylater raises $2 Million in seed funding

Financial-technology startup Epaylater.in, which is operated by Mumbai-based Arthashastra Fintech Pvt. Ltd, has raised $2 million (Rs 13.3 crore) in a seed round of funding from three high-net-worth individuals. The investors are leading personalities of the global financial industry and have invested in other fin-tech startups. The funds will be utilized for product development and marketing.

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Former Vodafone CEO Arun Sarin invests in Truecaller

Former Vodafone Global chief executive Arun Sarin has acquired a minority stake in phone directory app Truecaller for an undisclosed amount. The other investors in the Scandinavian firm include Access Partners, Atomico, Sequoia Capital and Kleiner Perkins Caufield & Byers. India is the largest market for Truecaller, where it has 100 million of its total user base of 150 million.

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Wearable gaming platform SuperSuit’s maker MadRat Games raises funds

Bangalore based wearable gaming platform SuperSuit’s maker MadRat Games, has raised fresh funds from a consortium of investors including Ratan Tata, Ola’s founders Bhavish Aggarwal and Ankit Bhati, Flipkart’s founder Binny Bansal, and Girish Mathrubootham of Freshdesk. The total amount raised by the company, including the latest round, comes to over $2.5 million. The funds will be utilized for product development and pre-order campaign.

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FMO, ABN AMRO join hands to float impact fund for emerging markets

The Netherlands Development Finance Company (FMO), Privium Fund Management and Dutch state-owned bank ABN AMRO have joined hands to float an impact fund called FMO Previum Impact Fund for emerging markets at large. The fund will be able to co-invest in both existing and new loans (to be) provided by FMO to its clients. The co-investments of the fund will be structured as participations in such loans provided by FMO. It will invest in four focus sectors of FMO – financial institutions, energy, agri-business and telecom infrastructure.

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