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New Delhi, Logistics service provider <keyword id="20748695" type="General" weightage="20" keywordseo="shadowfax" source="keywords">Shadowfax</keyword> on Tuesday announced the closing of its Series E funding round, securing $100 million in investments. <keyword id="20748696" type="General" weightage="20" keywordseo="tpg-newquest" source="keywords">TPG NewQuest</keyword> led the round, with participation from existing investors, including Mirae Asset Venture Investments (<keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>), Flipkart, International Finance Corporation, Nokia Growth Partners, Qualcomm, and Trifecta Capital. "Our ability to capture a greater share of the market, even in a tough economic climate, is a testament to the core strength of our business," <keyword id="19977905" type="General" weightage="20" keywordseo="abhishek-bansal" source="keywords">Abhishek Bansal</keyword>, CEO of Shadowfax, said in a statement. Eight Roads Ventures, the company's first institutional investor having invested in Shadowfax's Series A round in 2015, made a partial exit. "We have been impressed with the tech stack they have built. This helps with the delivery of superior service metrics and allows them to quickly adapt their services to client's changing needs at the lowest price," said <keyword id="20073166" type="General" weightage="20" keywordseo="amit-gupta" source="keywords">Amit Gupta</keyword>, Partner and Head of India and Southeast Asia, TPG NewQuest. Over the next 18 months, the company said that Shadowfax will utilise the raised funds to reinforce its middle-mile network and extend its last-mile delivery services to cover all 20,000 pin codes across India. Part of the raised funds will be used to develop state-of-the-art services for Direct-to-Consumer (D2C) brands leveraging cutting-edge technologies and further enhancing Shadowfax's express delivery network, it added.

Shadowfax secures $100 mn in Series E funding led by TPG NewQuest

<ul><li><keyword id="6557529" type="General" weightage="100" keywordseo="kreditbee" source="Orion">KreditBee</keyword> is a fintech platform which facilitates instant personal loans to professionals. </li><li>Existing investors include <keyword id="648852" type="General" weightage="50" keywordseo="premji-invest" source="Orion">Premji Invest</keyword>, MO Alternates, TPG-backed <keyword id="622861" type="General" weightage="50" keywordseo="newquest-capital-partners" source="Orion">NewQuest Capital Partners</keyword>, and <keyword id="11373086" type="General" weightage="50" keywordseo="mirae-asset-ventures" source="Orion">Mirae Asset Ventures</keyword>. </li><li>The brand aims to cross an AUM of $1 billion over the next 6 to 9 months. </li><li>The company further plans to diversify its product offering by venturing into digitally-enabled secured loans, home loans, and credit lines. </li></ul>KreditBee, one of India’s leading fintech platforms, has secured $80 million as a part of its ongoing Series-D investment round. The brand is currently a Series-C funded entity with a cumulative fundraise of over $200 million. The fintech platform facilitates instant personal loans to professionals, where they can avail loans up to ₹4 lakhs as per their requirements. The current investment saw active participation from existing investors Azim Premji’s Premji Invest, <keyword id="15088227" type="General" weightage="50" keywordseo="motilal-oswal-alternates" source="Orion">Motilal Oswal Alternates</keyword>, TPG-backed NewQuest Capital Partners, and Mirae Asset Ventures. The round also saw debut participation from <keyword id="6516824" type="General" weightage="50" keywordseo="mufg-bank" source="Orion">MUFG Bank</keyword>, one of the largest financial institutions across the world. Some of its other marquee investors include <keyword id="6653" type="General" weightage="50" keywordseo="icici-bank" source="Orion">ICICI Bank</keyword>, Arkam Ventures, and SIDBI’s investment arm IndiaSME Investments. “The investment adds more weight to our vision of encouraging financial independence through a smart digital experience, which is what India stands for today. With the current round, we look forward to expanding our set of solutions to serve our growing consumer base,” <keyword id="3538271" type="General" weightage="50" keywordseo="madhusudan-e" source="Orion">Madhusudan E</keyword>, Co-Founder &amp; CEO, KreditBee said. The funds will be used to diversify KreditBee’s product portfolio and strengthen its tech stack. The platform aims to cross an AUM of $1 billion over the next 6 to 9 months. KreditBee currently offers multiple types of personal loans, online/offline checkout finance, and digital gold. The company further plans to diversify its product offering by venturing into digitally-enabled secured loans, home loans, and credit lines. “ KreditBee is solving the credit needs of the growing and aspirational, yet underserved middle-income consumer of ‘Bharat’ through an innovative platform,” <keyword id="1318832" type="General" weightage="50" keywordseo="vinit-mehta" source="Orion">Vinit Mehta</keyword>, director and head of BFSI at MO Alternate Investment Advisors said. The platform currently has 6 million loan customers, out of which over 2 million are active loan customers, the company statement claimed. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/top-10-largest-employers-companies-in-india-in-2022/slidelist/95940138.cms">These companies are the top 10 employers in India as per Hurun list 2022</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/top-10-youtube-videos-of-2022/articleshow/95931879.cms">From Will Smith slapping Chris Rock to a scam call center being pranked, here are the top 10 videos of 2022</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/globalbees-to-cred-and-two-adani-group-companies-companies-which-command-high-valuations-with-low-revenues/articleshow/95929044.cms">The curious case of companies which command high valuations with low revenues</a>

Personal loans fintech platform KreditBee raises $80 million in Series-D investment round

<keyword id="19981453" type="General" weightage="20" keywordseo="Brainbees-Solutions" source="keywords" meta.keywordsubtype="org" meta.entityname="Brainbees Solutions" meta.hostid="261" meta.entityid="Brainbees Solutions">Brainbees Solutions</keyword> Ltd, the parent firm of online e-commerce platform <keyword id="19939174" type="General" weightage="20" keywordseo="FirstCry" source="keywords" meta.keywordsubtype="org" meta.entityname="FirstCry" meta.hostid="261" meta.entityid="FirstCry">FirstCry</keyword>, has received <keyword id="19901201" type="General" weightage="20" keywordseo="Sebi" source="keywords" meta.keywordsubtype="org" meta.entityname="Sebi" meta.hostid="261" meta.entityid="Sebi">Sebi</keyword>'s approval to raise funds through an initial public offering (<keyword id="19898327" type="General" weightage="20" keywordseo="IPO" source="keywords">IPO</keyword>), an update with the markets regulator showed on Monday. Apart from this, three more companies -- SaaS platform Unicommerce eSolutions, Maharashtra-based Gala Precision Engineering and Interarch Building Products -- obtained the regulator's nod to float the initial share sale. These companies -- who filed their preliminary IPO papers with Sebi between January and May 2024 -- obtained the regulator's observations during June 25-28, according to the update. In Sebi's parlance, obtaining its observations means its approval to float the public issue. According to the fresh draft red herring prospectus (DRHP), Pune-based Brainbees Solutions' proposed IPO is a combination of a fresh issue of equity shares, aggregating up to Rs 1,816 crore and an offer for sale (OFS) of up to 5.44 crore equity shares by existing shareholders. Under the OFS, SVF Frog, a Cayman Islands-registered entity of <keyword id="19944037" type="General" weightage="20" keywordseo="Softbank" source="keywords" meta.keywordsubtype="org" meta.entityname="Softbank" meta.hostid="261" meta.entityid="Softbank">Softbank</keyword>, will sell 2.03 crore equity shares of Brainbees Solutions Ltd, and automaker Mahindra &amp; Mahindra (M&amp;M) will offload 28.06 lakh shares of the company. Currently, Softbank holds a 25.55 per cent stake in Brainbees Solutions, and M&amp;M owns a 10.98 per cent stake in the multi-brand retailing platform. Apart from Softbank and M&amp;M, other entities selling shares in the OFS are PI Opportunities Fund, TPG, NewQuest Asia Investments, Apricot Investments, Valiant Mauritius, TIMF Holdings, Think India Opportunities Fund and Schroders Capital. Brainbees Solutions re-filed preliminary papers with Sebi in May after the company was directed by the regulator to re-file the draft papers, citing insufficient disclosure of key performance indicators (KPIs), market sources had said. The company's key performance indicators include its number of orders, average order value and annual transacting customers. Unicommerce's issue is entirely an offer for sale (OFS) aggregating up to 2.98 crore equity shares by the selling shareholders. Under the OFS, SB Investment Holdings (UK) Ltd, an affiliate of Japan's SoftBank, will offload 1.61 crore shares, promoter AceVector Limited (formerly known as Snapdeal Limited) will sell up to 1.14 crore shares, and B2 Capital Partners will be selling up to 22 lakh shares. Since the IPO is completely an OFS, the entire proceeds will go to the selling shareholders. Shares of these four companies will be listed on the BSE and NSE. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/vraj-iron-and-steel-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/111394752.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/vraj-iron-and-steel-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/111394752.cms" target="_blank">Vraj Iron and Steel IPO allotment – How to check allotment, IPO GMP, listing date and more</a><a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-price-hike-new-plans-and-how-you-can-save-money/articleshow/111331794.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-price-hike-new-plans-and-how-you-can-save-money/articleshow/111331794.cms" target="_blank">Reliance Jio and Airtel price hike – new plans and how you can save money</a><a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-july-2024/slidelist/111304902.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-july-2024/slidelist/111304902.cms" target="_blank">Upcoming smartphones launching in India in July 2024</a>

FirstCry's parent firm Brainbees Solutions gets Sebi's go ahead to float IPO

<ul><li><keyword id="6557529" type="UNKNOWN" weightage="20" keywordseo="KreditBee">KreditBee</keyword>’s holding company Finnov has raised $70 million from TPG-backed NewQuest Capital Partners and Motilal Oswal Private Equity.</li><li>The company’s latest round comes just a month after it had raised $75 million from the likes of Azim Premji’s Premji Invest and South Korean investment firm Mirae Assets Ventures.</li><li>KreditBee claims to have a registered user base of over 25 million.</li></ul>Fintech lending startup KreditBee’s holding company Finnov has raised $70 million from new investors TPG-backed NewQuest Capital Partners and Motilal Oswal Private Equity. The company’s latest round comes just a month after it had raised $75 million from the likes of Azim Premji’s Premji Invest and South Korean investment firm Mirae Assets Ventures, with participation from Alpine Capital and Arkam Ventures. KreditBee’s funding comes when fintech continues to be a hot sector in India, with lending startups having got a bigger push during COVID-19. During the pandemic, as people lost their jobs, or merchants looked to save their businesses, they <a href="https://www.thehindubusinessline.com/money-and-banking/digital-lending-apps-continue-to-see-robust-demand/article34037180.ece">turned </a>to a lot more lending apps for financial support. In fact, according to a Boston Consulting Group and Federation of Indian Chambers of Commerce and Industry (FICCI) report, the alternative lending sector is going to see increased investments – from $2.5 billion between 2016-2020 to $5.6 billion between 2021-2025. KreditBee claims to have a registered user base of over 25 million. The three-year old company now hopes to use the funds to ‘expand the lending portfolio to different products, and develop an offline-online lending capability to bridge the consumer financing needs of Bharat (the term coined for India’s next millions of internet users from rural India)’. “A complex demography like India requires simple, effective and impactful lending solutions, that comes with a deeper understanding of the consumer financing needs of the ecosystem. We are happy to onboard investment partners with us who share the same vision as we do as to how personal finance should graduate from a luxurious aspiration to a trivial commodity, available at the click of a button”, added Madhusudan E, co-founder and chief executive of KreditBee’s holding group entity. Interestingly, KreditBee joins the list of startups, which are giving exits to their Chinese investors. KreditBee’s investor the Chinese investment firm Shunwei Capital had <a href="https://economictimes.indiatimes.com/tech/funding/kreditbee-gets-70-million-more-in-series-c-funding-round/articleshow/81620486.cms?from=mdr">reportedly </a>exited the firm last month. Shunwei had also recently exited another investment in India – Koo, the microblogging platform. “The conclusion of this round has led to an exit of most of the early-stage investors,” said KreditBee in a statement. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/barbeque-nation-ipo-to-raise-180-crore-by-selling-54-5-lakh-shares/articleshow/81626158.cms">With an IPO on its plate, Barbeque Nation hopes to clear off some of its debt and double down on not just dining but its new delivery business</a> <a href="https://www.businessinsider.in/business/startups/news/zerodha-founder-nikhil-kamath-flipkart-ceo-kalyan-krishnamurthy-and-others-buyout-chinese-investor-shunwei-capital-stake-in-koo-app/articleshow/81548852.cms">A flurry of Indian A-list entrepreneurs buyout Chinese investor Shunwei Capital’s stake in Koo – the microblogging site that’s taking on Twitter</a>

You Searched For "tpg newquest" and got 4 results

Shadowfax secures $100 mn in Series E funding led by TPG NewQuest

IANS

Personal loans fintech platform KreditBee raises $80 million in Series-D investment round

Eetika Kapoor

FirstCry's parent firm Brainbees Solutions gets Sebi's go ahead to float IPO

PTI

Lending platform KreditBee raises $70 million in its series C round, a month after it got $75 million

Sanchita Dash

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