By Salman S.H
This is Truecaller’s first ever acquisition in the India market. Both companies are backed by common investor Sequoia Capital.
The company had earlier said it may raise funds to strengthen its balance sheet after its losses tripled in the quarter ended March 2018.
With the third tranche of a $445-million commitment from SoftBank and Alibaba in, SoftBank’s Kabir Misra joins the Paytm Mall board, while Michael Evans, president of Alibaba, has stepped down.
FastGo, Aber, Vato and Singapore’s MVLchain are some of the new players looking to foray into the market, which is set to see a face-off between Grab and Go-Jek.
Grab has become the first transportation tech firm in SE Asia to achieve the milestone.
Gett has raised more than $700 million in funding, including $300 million from Volkswagen in 2016.
Tiki has hit the fundraising trail barely six months after securing a $44-million Series C investment co-led by China’s second-largest e-commerce firm JD.com.
Current backers, including Tencent & Warburg Pincus, have discussed providing more funding to the firm.
The latest numbers indicate that Ola has managed to hold its own against Uber in India over the past 18-24 months.
The move was propelled, in part, by growing regulatory pressure on Ant’s core financial businesses, including payments, micro lending, credit rating and wealth management.