Real estate and infra attracted $6.3 billion in 2018, led by KKR, Brookfield and CPPIB.
The deal marks the first India investment for the strategic fintech team of Eight Roads.
Unlike seed capital, growth stage also needs bigger fund sizes, generally difficult to raise if your limited partners, or investors, are not convinced of a deep market opportunity.
For RentoMojo, the latest fundraise comes almost two years after it raised $10 million in July 2017 from Bain Capital, Accel and Chiratae Ventures.
Investments fell more than one-fifth from $360 million in the December quarter to $282 million in the March quarter, according to data tracker Tracxn.
The financial sector contributed 43.6%, or $11.3 billion, to the M&A deals in the first quarter.
Digital lending startups, including Capital Float, Lendingkart and Rubique are looking to hit the road to raise fresh equity.
PNB will continue to hold a strategic stake of about 19.79% in PNB Housing Finance and will stay on as a promoter.
Existing investors Sequoia Capital, Accel Partners and Matrix Partners are said to participate in the round.
Zetwork raised a $1.2 million seed funding round from Kae Capital and Sequoia in August last year.