India Digest: BLS E-Services acquires Starfin; DailyNinja buys 4amShop

Grocery shopping. Photo: Guus Baggermans/Unsplash

In the latest startup acquisitions, hyperlocal delivery startup DailyNinja has acquired 4amShop in an all-cash deal while BLS E-Services has bought Starfin India, a banking business correspondent of State Bank of India.

DailyNinja buys 4amShop

Hyperlocal subscription-based delivery startup DailyNinja has acquired 4amShop for an undisclosed amount in an all-cash deal, The Economic Times reported. The development comes almost two months after DailyNinja raised $3 million in funding from Saama Capital and existing investor Sequoia Capital. Both DailyNinja and 4amShop operate in the same space, making early morning deliveries of household essentials along with milk and groceries. The deal will see the exit of 4amShop founders and addition of its 2,000 customers to DailyNinja’s platform, the report said. DailyNinja claims to deliver milk and groceries to 25,000 households everyday.

BLS E-Services acquires Starfin India

BLS E-Services on Thursday announced that it has acquired Starfin India, a banking business correspondent of State Bank of India, for an undisclosed amount. BLS E-Services, a wholly-owned subsidiary of BLS International, has over 1,500 active customer service centres. On the other hand, Starfin has a network of customer service centres across 11 states through which it claims to provide banking services to millions of customers. The acquisition will help BLS E-services set up its own network of franchisees to provide B2C services across the country, mainly targeting small towns and villages. This business model will promote entrepreneurship, employment generation, and skill development contributing to the development of rural India by making world-class services easily accessible, it said.