The deal values the Indian online insurance aggregator at $1.5 billion.
The payments market is expected to touch $1 trillion by 2023.
Uber lost about $5.2 billion in the second quarter alone.
The new figure is a fraction of the $47 billion valuation the startup commanded as recently as January.
The funding, split evenly between equity and debt, values the firm at $16 billion.
Lightspeed Venture Partners and Sequoia are selling part of their shareholding in OYO to help the founder increase his stake.
Q & A
We built payments from the bottom up in Japan. PayPay today has 10 million customers. We will go to the Americas and Europe - Vijay Shekhar Sharma.
GGV has invested in Udaan, a B2B marketplace for small businesses, and Khatabook, a digital version of the hand-written ledger.
Kalanick’s real estate company, City Storage Systems, has reportedly bought a small stake in Rebel Foods as part of a previously disclosed $125 mill
Glance is part of InMobi Group, a mobile marketing firm backed by Japan’s SoftBank Group Corp.
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