Delhivery Raises $30M, OnFees in Talks to Raise Funding, FlexiLoans Acquires CreditPeriod & More

Digital lending platform FlexiLoans Technologies Pvt. Ltd has acquired Mumbai-based supply chain financing platform for an undisclosed sum.

Here is a list of deals that happened in Indian Startup Ecosystem today including funding, merger, acquisition, fund launch etc. Read a brief description about all of them:

1. Logistics venture Delhivery has raised $30 million (about Rs 200 crore) in funding from Chinese conglomerate Fosun International
with participation from bulge bracket buyout specialist The Carlyle Group. The latest tranche is part of a larger round -estimated at between $100-$130 million -the fifth round raised by the Gurgaon-headquartered Delhivery. The round was first reported by ET in its edition dated February 28. It It values the six-year-old company at about $650 million, reported ET.

2. Mumbai-based OnFees, an online fee platform with 35 organisations including some chains of institutions, and over 70,000 students on board, is now looking to expand to other parts of the country and is in talks for the second round of funding. While the first round of funding came from HNIs, the startup is looking for funding from established private equity and venture capital firms in India and abroad, reported LiveMint.

3. Hyderabad-based integrated facility management firm ICS (Ixora Corporate Services Pvt. Ltd) has acquired an undisclosed majority stake in home services startup Renowala, reported VCCircle. Joshua Kumar, chief executive at Renowala will continue in his current role where he oversees business expansion and strategy for the startup while ICS will focus on operations and profitability. Devesh Sharma, director at ICS, will serve as chief operating officer of the entity’s Indian operations. Hyderabad-based Springforth Capital advised Renowala on the deal.

4. Digital lending platform FlexiLoans Technologies Pvt. Ltd has acquired Mumbai-based supply chain financing platform for an undisclosed sum.
As part of the deal, CreditPeriod co-founder Venkatesh Viswanathan, who has been a financial forensics professional, has joined the FlexiLoans team to drive its supply chain finance initiatives. “This acquisition will enable us to underwrite loans using real-time ERP integrations with SMEs to solve the credit-trust problem, thereby helping SMEs procure goods and services at significantly cheaper costs. The acquisition gives us access to technology that is custom built for supply chain financing,” said Abhishek Kothari, co-founder, FlexiLoans.

5. US ecommerce giant, has infused another $15.5 million in its Indian B2B wholesale marketplace, Amazon Wholesale India Pvt Ltd. The funds were routed through Amazon Inc. and its Singapore-based subsidiary Amazon Corporate Holdings Pvt. Ltd, as per recent filings made with the Registrar of Companies.

Read more deals here.

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