<article>Online credit platform Capital Float has raised $2.5 million (Rs 17 crore) from IFMR Capital Finance while Mumbai-based company AdStringO is in talks to receive $5 million in Series A round.</article>

Online credit platform Capital Float has raised $2.5 million (Rs 17 crore) from IFMR Capital Finance while Mumbai-based company AdStringO is in talks to receive $5 million in Series A round.
<h3 style="text-align: justify;">Capital Float raises $2.5m from IFMR</h3>
Online credit platform <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=capital+float" target="_blank">Capital Float</a>, which is run by Zen Lefin Pvt. Ltd, has raised $2.5 million (Rs 17 crore) from IFMR Capital Finance and its alternative investment fund through non-convertible debentures (NCDs).
The company has raised a total of Rs 60 crore this financial year through this route. The fresh funding will be used to lend to existing and new small and medium enterprises (SMEs).
“The NCD raise is for strengthening our lending books. This will enable us to fulfil the working capital requirements of SMEs; for both repeat borrowers from our existing customer base and for new customer acquisition,” said Sashank Rishyasringa, co-founder of Capital Float.
<h3 style="text-align: justify;">Mumbai-based AdStringO to receive $5m funding</h3>
Mobile compression software startup AdStringO is in talks with venture funds for raising $5 million in Series A round. The firm expects to close this round of funding by April this year.
The proceeds will be used to fund international expansion and to cash in on cooperative banks’ need to facilitate digital transactions, according to an Economic Times <a style="color: #000080;" href="http://economictimes.indiatimes.com/small-biz/money/adstringo-looks-to-raise-5-million-to-fund-international-expansion/articleshow/56993581.cms" target="_blank">article</a>.
“We want to expand aggressively to other countries like Sri Lanka, Bangladesh and some countries in Africa, and also cater to the cooperative banks sector which has been greatly impacted by the government’s demonetisation since they lack any sort of technology infrastructure to support digital transactions,” Mohan Chandrasekaran, CEO, Ad-StringO told the newspaper.
AdStringO uses a technology, which compresses image, PDF, audio and video up to 90 per cent with same visual quality. It counts companies like Tata Group, ICICI Bank, HDFC as its customers.
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<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/warburg-pincus-in-talks-to-buy-stake-in-capital-float-57697/" target="_blank">India: Warburg Pincus in talks to invest in credit platform Capital Float</a>

Capital Float has raised $2.5 million from IFMR Capital Finance while AdStringO is in talks to receive $5 million in Series A round.

India: Capital Float raises $2.5m from IFMR, AdStringO to get $5m

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India: Capital Float raises $2.5m from IFMR, AdStringO to get $5m

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