India Dealbook: Avail Finance, Pristyn Care raise funding, ACI invests in Mindgate

Avnish Bajaj, founder and managing director, Matrix Partners India

Fintech platform Avail Finance and healthcare delivery firm Pristyn Care have raised capital from marquee venture capitalists to facilitate their growth plans.

In what seems to be a strategic investment, US-headquartered ACI Worldwide Inc. infused an undisclosed sum in Mindgate Solutions Pvt. Ltd, an Indian digital payments company.

Avail Finance raises $9m from Matrix India

Fintech platform Avail Finance announced that it has raised its Series A round of financing of $9 million, led by existing investor Matrix Partners India.

Founded in 2017, Avail Finance is building a neo-bank for the blue-collar workers in India. It plans to use the funds to expand its product suite to offer micro-savings and micro-insurance products tailored specifically for blue-collar workers.

In March 2018, Matrix India had led the seed investment in Avail Finance along with other marquee angel investors including Binny Bansal, Kunal Shah, Founder of Cred, Bhavish Aggarwal and Ankit Bhati, Founders of Ola and Manish Patel, Founder of Mswipe.

 Sequoia India invests in Pristyn Care

Healthcare delivery startup Pristyn Care raised $4 million in a Series A funding round from marquee venture capital firm Sequoia India, to improve its medical capabilities, spruce up technology investments and ramp up its team of medical professionals.

Established in late 2018, the Gurugram-based startup offers patients treatment for Laser, cosmetic & aesthetic gynaecology, and infertility among others.

Since inception, the startup has conducted over 2000 surgeries.

Going forward, by the end of this calendar year, Pristyn Care plans to ramp up the number of clinics to 50 from 20 currently which are operational in cities such as Delhi, Bangalore and Hyderabad.

US-based ACI Worldwide invests in Mindgate

US-headquartered electronic payments and banking provider ACI Worldwide Inc. has infused an undisclosed sum in Mindgate Solutions Pvt. Ltd, an Indian digital payments company, according to an announcement.

As part of the strategic investment, ACI and Mindgate will launch a joint payment service that will help deliver an end-to-end payments solution for various businesses, thereby combining the former’s Universal Payments software solutions with the Mumbai-based company’s digital services.

The advanced, end-to-end payments solution will be offered to entities such as banks, financial intermediaries and merchants, among others.