The News Scroll 17 July 2019  Last Updated at 9:37 pm | Source: PTI

MyMoneyMantra raises Rs 104 cr from IFSD BV, Vaalon Capital

MyMoneyMantra raises Rs 104 cr from IFSD BV, Vaalon Capital
outlookindia.com
1970-01-01T05:30:00+0530
New Delhi, Jul 17 Financial services distributor MyMoneyMantra Wednesday said Dutch investment company IFSD BV and Vaalon Capital have picked up a minority stake in the company for Rs 104 crore.

MMM serves over four 4 million customers from over 50 cities and has partnered with more than 90 financial institutions, a statement said.

The company was responsible for originating Rs 7,000 crore (about USD 1 billion) of credit-related products in FY2019, it added.

"This investment is a fantastic endorsement from an international partner and comes at an opportune time, as we are eager to capture an even larger share of the rapidly expanding Indian consumer market," MMM founder and Managing Director Raj Khosla said.

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* Akiva Superfoods raises USD 2mn led by Alkemi Venture partner *

Akiva Superfoods, a wellness food products company, Wednesday said it has raised about USD 2 million (INR 13,68,87,500) in funding led by Alkemi Venture partner.

The series A round also saw participation from existing angel investors.

The previous investors include Zomato co-founder Pankaj Chaddah, MindTickle co-founder Mohit Garg, Max Healthcare CEO Rajit Mehta, OYO New Real Estate CEO Rohit Kapoor, current and former Partners of McKinsey & Co and prominent PE investors, a statement said.

"We aim to use the funds in expanding the portfolio by adding a wide range of innovative superfood-based products across categories, getting the right talent across functions, and also to penetrate new markets and bolster retail channels through high impact marketing," Shalabh Gupta, founder-CEO of Akiva Superfoods, said.

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* Agrahyah Technologies raises $1 million in pre-series A funding *

Agrahyah Technologies Wednesday said it has closed a pre-series A round of USD 1 million in funding during first a quarter of 2019 to fuel growth and expansion of its products.

"After being bootstrapped by the three co-founders for nearly two years, the company has now raised funds to capitalize on growing consumer demand for podcasts and scripted audio content in Indian languages including Hindi and English," a statement said.

The company, however, did not disclose the names of the investors. SR MR


Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds.
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