Chqbook.com raises USD 5 mn from Aavishkaar Capital
The Gurugram-based company will use the proceeds from the series A round to expand its product portfolio, scale up distribution across multiple cities and strengthen its proprietary AI-powered technology platform, a statement said.
"Backed by a strong founding team, we are building India's first marketplace bank and will be the financial control centre for small business owners by offering them massive product choice and superior customer experience," Chqbook.com founder and CEO Vipul Sharma said.
Chqbook said it is already unit economics-positive and its year-on-year revenue has seen a growth of 8x in FY20 compared to FY19.
Some of the early stage investors of Chqbook include Harsha Bhogle, Bharat Shyam, Ken Glass, Anand Chandrasekaran, Amit Manocha, Amit Singhal, Bhupesh Kumar, Nilesh Srivastava, Rohit Chanana and Sakshi Vij.
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** DAZN to expand global presence
DAZN, a global sports streaming service, on Monday said it is expanding its presence to more than 200 countries and territories this year.
DAZN has already debuted services in nine countries -- Austria, Brazil, Canada, Germany, Italy, Japan, Spain, Switzerland and the US.
This first phase of DAZN's global expansion will be an English-language service focused on boxing, building on the company's significant investment in the sport over the past two years, a statement said.
The DAZN app will be available globally on most internet-connected devices, including smartphones, tablets, laptops, PCs as well as smart TVs, streaming sticks and game consoles.
Pricing by market will be announced in the coming weeks, the statement said.
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** ODA Class raises pre-series A funding
ODA Class, a Bengaluru-based digital education platform, on Monday said it has raised an undisclosed amount of funding in pre-series A round, led by Chinese education company Yuanfudao.
The company plans to utilise the funds for technology upgradation and expanding its product offerings, a statement said.
It will also be used for development of infrastructure and enhancing the teacher recruitment system, it added.
The company has already garnered one million users, and aims to reach 10 million users by the end of the year.
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** CredAble, Northern Arc launch invoice-backed securitisation transaction
Supply chain financing fintech platform CredAble on Monday said it has launched invoice-backed securitisation transaction along with non-bank player Northern Arc Capital.
The securitisation structure will allow vendors of the company, including MSMEs, to discount their invoices and bridge working capital gap.
Under the transaction, the discounted invoices that are raised to large anchor (buyers) by the vendors (suppliers) on CredAble's platform are then assigned as invoice receivables to the securitisation trust, the company said in a release.
The product will help capital market investors including asset management funds get access to invoice financing market, it said. SR HV RVK