The company is raising $43.5 million funding from global investors and a few existing investors.
5Paisa has applied for a P2P licence with the Reserve Bank of India and is waiting for the approval.
Smaaash will use the cash proceeds to fund its inorganic growth initiatives, repay part of its debt and for its working capital requirements.
Since 2015, PE and VC investors have put in $613 million in food and beverage consumer brands.
Existing investors, including Kalaari Capital and Japan’s Recruit Group, and Russian venture capital management company Emery Capital are likely to participate in the new round.
Unreasonable Capital, an early stage investor focused on emerging markets, has made its maiden foray into Asia with an investment in a research-based education tech company India called Stones2Milestones.
AVF is an early stage fund targeting a total corpus of ₹200 crore with a green shoe option of another ₹100 crore in next 6-12 months.
Founded in 2007 by Kanwal Rekhi, Samir Kumar and John Dougery, Inventus has so far raised two funds totalling $158 million.
InnoVen Capital sees a major opportunity for follow-on investments in the venture debt market as growing startups seek to diversify their funding requirements.
IL&FS Securities Services Limited, incorporated in July 2006, is a capital markets intermediary for professional clearing, depository and custodial services.