India’s Swiggy nears $5 billion evaluation in brand-new $800 million fundraise

India’s Swiggy nears $5 billion evaluation in brand-new $800 million fundraise

Swiggy has actually raised about $800 million in a brand-new financing round, the Indian food delivery startup told workers on Monday, as it looks to expand its business in the country quarters after the start-up cut its workforce to browse the pandemic. In an email to staff members, initially reported by Times of India reporter Digbijay Mishra, […] Given our unfettered ambition though, we will continue to seed/experiment brand-new offerings for the future that may be ready for investment later on. That investment is not part of the new round, an individual familiar with the matter informed TechCrunch., which had 500 million transacting users last year and is valued at over$100 billion. At stake is India’s food delivery market, which experts at Bernstein anticipate to balloon to be worth$12 billion by 2022, they composed in a report to clients previously this year.

SoftBank-backed Indian insurance coverage platform Policybazaar raises $75 million

SoftBank-backed Indian insurance coverage platform Policybazaar raises $75 million

Policybazaar has raised $75 million as the Indian online insurance coverage platform wants to expand its existence in UAE and Middle East. Sarbvir Singh, chief executive of Policybazaar, informed TechCrunch that the start-up had raised $75 million, but didn’t elaborate. Falcon Edge Capital led the brand-new tranche of financial investment in the Indian startup, which has raised […] In India only a fraction of the country’s 1.3 billion individuals currently have access to insurance coverage and some analysts state that digital companies might show important in bringing these services to the masses. In a current report, analysts at Bernstein estimated that Policybazaar commands 90% of share in the online insurance distribution market.”India has an under-penetrated insurance market.”PolicyBazaar has actually shown stellar innovation, execution, and relentlessness in establishing itself as the market leader in online insurance aggregation in India.

India’s Khatabook raises $60 million to assist merchants digitize bookkeeping and accept payments online

India’s Khatabook raises $60 million to assist merchants digitize bookkeeping and accept payments online

Khatabook, a startup that is helping small companies in India record monetary transactions digitally and accept payments online with an app, has actually raised $60 million in a new financing round as it seeks to acquire more ground on the planet’s second most populated country. The new funding round, Series B, was led by Facebook co-founder […] Khatabook, as well as a handful of young and recognized gamers in the country, is attempting to change that by using apps to enable merchants to digitize their bookkeeping and also accept payments.-backed OkCredit, Ribbit Capital-backed BharatPe, Walmart’s PhonePe and Paytm, all of which have actually raised more money than Khatabook. Khatabook will deploy the new capital to expand the size of its technology team as it looks to develop more items. India’s payments market could reach $1 trillion by 2023, according to a report by Credit Suisse. …