India Dealbook: Coverfox raises $2.3m more; Quikr gets debt from Trifecta

Photo: Reuters

In the latest startup financing, Coverfox has raised about $2.3 million from existing investors while Quikr has secured $2.9-million debt from Trifecta Capital.

Coverfox raises additional $2.3m funding

Glitterbug Technologies Pvt. Ltd, which owns online insurance platform Coverfox, has raised about $2.3 million (Rs 15.7 crore) in funding from existing investors, per the company’s filings with the Registrar of Companies (RoC) sourced by paper.vc.

According to the filings accessed by this website, investors who took part in funding included the International Finance Corporation (IFC), Aegon Digital Investments, Transamerica Ventures, Accel India, and SAIF Partners.

This amount was raised in May, a month after Coverfox reportedly raised $22 million in funding led by IFC with participation from Transamerica, SAIF, Accel, and others.

Founded in 2013 by Devendra Rane and Varun Dua, Coverfox aggregates insurance products offered by banking and other financial institutions on its platform. Users can compare, discover, and apply for plans online without the need for burdening paperwork.

Quikr gets $2.9m debt funding from Trifecta

Quikr India Pvt. Ltd, which runs an online classifieds and services portal has raised $2.9 million (Rs 20 crore) in debt funding from venture debt firm Trifecta Capital, the company’s filings with RoC shows.

According to the filings, which were sourced by paper.vc, Quikr has issued 200 debentures at a face value of Rs 10 lakh each to Trifecta against the funds raised.

Quikr last raised Rs 55 crore in debt financing from Temasek-owned InnoVen Capital to grow its operations in December. Prior to that, it raised Rs 130 crore venture debt in 2016 from Brand Capital, the private treaty arm of media conglomerate Bennett, Coleman and Co. Ltd.

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.