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Furniture rental startup Furlenco raises Rs 20 crore in venture debt from Blacksoil
Business

Furniture rental startup Furlenco raises Rs 20 crore in venture debt from Blacksoil

Furlenco has furnished over 150,000 homes across eight major cities in India and has AUM (assets under management) worth over Rs 200 crore.

Reliance Retail, Future Group's Rs 24,000 crore deal cleared by market regulator SEBI
Business

Reliance Retail, Future Group's Rs 24,000 crore deal cleared by market regulator SEBI

The SEBI, in its letter of approval, listed a number of conditions in accordance to the Composite Scheme of Arrangement. The regulatory body has also referred to the apprehensions raised by Amazon.

CRED founder Kunal Shah backs Carl Pei's upcoming venture in an undisclosed amount of funding
Business

CRED founder Kunal Shah backs Carl Pei's upcoming venture in an undisclosed amount of funding

"Carl is working on a new consumer electronics company that I am sure will be a disruptor in the tech industry. I am excited to be part of this journey,” Kunal Shah said.

CCI approves e-commerce giant Flipkart's acquisition of 7.8 percent stake in Aditya Birla Fashion
Business

CCI approves e-commerce giant Flipkart's acquisition of 7.8 percent stake in Aditya Birla Fashion

Flipkart and Aditya Birla Fashion had announced the agreement in October 2020 in which Aditya Birla Fashion would be issuing a 7.8 percent stake to Flipkart on a preferential basis.

Online transactions grew 80 percent in 2020 driven by strong uptake from tier II, III cities, reports Razorpay
Business

Online transactions grew 80 percent in 2020 driven by strong uptake from tier II, III cities, reports Razorpay

Razorpay said it witnessed a decline of 30 percent in digital payments initially during the lockdown, but after the first 70 days of the national lockdown, digital payments rebounded by 23 percent.

upGrad losses shoot up 84 percent in the financial year 2020 even as revenue nearly doubles
Sports

upGrad losses shoot up 84 percent in the financial year 2020 even as revenue nearly doubles

In the financial year 2020, upGrad’s total revenue increased 91percent to Rs 163 crore from Rs 85 crore in FY19.

Google removes finance-based mobile applications from Play store after RBI red flag
News & Analysis

Google removes finance-based mobile applications from Play store after RBI red flag

Google says removing the apps reduces the risk of being exposed to deceptive financial products and services.

Fintech firm for merchants, BharatPe, raises Rs 50 crore debt from Trifecta Capital
Business

Fintech firm for merchants, BharatPe, raises Rs 50 crore debt from Trifecta Capital

The debt raised will help further build the lending business and enable credit for millions of businesses across India's length and breadth told BharatPe co-founder and CEO Ashneer Grover.

Payments startup Phi Commerce raises $4 million in Series A round led by BEENEXT
Business

Payments startup Phi Commerce raises $4 million in Series A round led by BEENEXT

The company will utilise the funds to bolster its product offering, expand in existing markets and enter new geographies.

Oyo raises Rs 54 crore is series F1 funding round from Hindustan Media Ventures
Business

Oyo raises Rs 54 crore is series F1 funding round from Hindustan Media Ventures

The fresh fundraising by the hospitality start-up came at a time when it is slowly recovering from the impact of coronavirus pandemic.

Department of Telecommunications to hold spectrum auction on 1 March; invites applications
Business

Department of Telecommunications to hold spectrum auction on 1 March; invites applications

The DoT has fixed 12 January for the pre-bid conference and 28 January as the last date for seeking clarifications on its notice.

BlackSoil Capital Pvt Ltd raises Rs 32 crore through non-convertible debentures
Business

BlackSoil Capital Pvt Ltd raises Rs 32 crore through non-convertible debentures

The company said 70 percent of the funds were raised from existing investors and that the funds will be deployed in mid- and growth-stage entities across sectors in the startup ecosystem.

Paytm announces instant personal loans service for up to Rs 2 lakh within 2 minutes
Business

Paytm announces instant personal loans service for up to Rs 2 lakh within 2 minutes

Paytm has digitised the entire process for loan application and disbursal with no physical documentation required.

Singapore International Arbitration Centre constitutes panel for final verdict on Amazon-Future case
Business

Singapore International Arbitration Centre constitutes panel for final verdict on Amazon-Future case

The SIAC arbitration panel will pass the final verdict on whether Future Group can go ahead with its Rs 25,000 crore deal or not.

Practically raises $4 million in funding round led by deep tech investor Siana Capital
Business

Practically raises $4 million in funding round led by deep tech investor Siana Capital

The company had previously raised Series A funding of $5 Million in 2019. This takes the total funding raised by the company to $9 million.

boAt raises $100 million in funding from New York-based private equity firm Warburg Pincus
Business

boAt raises $100 million in funding from New York-based private equity firm Warburg Pincus

The company will use the investment to widen its R&D capabilities and build and support a manufacturing ecosystem under the Make in India initiative.

Urban Company's FY20 loss widens to Rs 155 crore, revenue doubles to Rs 263 crore
Business

Urban Company's FY20 loss widens to Rs 155 crore, revenue doubles to Rs 263 crore

Urban Company's total expenditure on a consolidated basis grew 98.6 percent to Rs 418.25 crore in fiscal ended March 2020.

Zomato's revenue doubles to Rs 2,743 crore, losses up 138 percent to Rs 2,386 crore
Business

Zomato's revenue doubles to Rs 2,743 crore, losses up 138 percent to Rs 2,386 crore

The Deepinder Goyal-led firm’s total expenses for the fiscal were reported as Rs 5,006 crore according to Tofler.

Cred initiates ESOP buyback worth $1.2 million as part of Series C fundraise
Business

Cred initiates ESOP buyback worth $1.2 million as part of Series C fundraise

The series C fundraising was led by its existing investor DST Global, along with Sequoia Capital, Ribbit Capital, Tiger Global, and General Catalyst.

PhonePe revenue grows 74 percent in financial year 2020, losses fall amid IPO talk
Business

PhonePe revenue grows 74 percent in financial year 2020, losses fall amid IPO talk

The company saw a seven percent decline in net loss from Rs 1,904 crore in FY19 to Rs 1,771 crore in FY20, according to Tofler.