India Dealbook: CreditAccess Grameen, Cars24, SafeHouse raise funding

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Indian startups continue to attract investor attention. CreditAccess Grameen, used cars marketplace Cars24 , and SafeHouse Technologies are among the latest startups to have secured funding.

FMO backs CreditAccess Grameen

Microlender CreditAccess Grameen has garnered as much as Rs 214 crore (around $30.27 million) in debt funding from Dutch development bank FMO, according to a report by VC Circle.

The Bengaluru-headquartered company, that made a stock market debut year, offers services in areas of group lending products, retail finance and distributor products under microlending business under brand Grameen Koota.

The Dutch investor, that focuses on sustainable economic and social development, has been betting big on India and its portfolio includes Aavishkaar (the country’s biggest impact investor by size of investments) and InCred, an NBFC headquarterd in Mumbai, among others.

Cars24 gets $44m from parent

Gurugram-based used cars marketplace Cars24 has secured $44 million in funding from its Singapore-based parent, Global Car Group Pte Ltd, Mint reported quoting paper.vc.

Last month, Cars24 had raised $100 million led by London-based investment firm Unbound and Toronto’s KCK Global with the participation of New York-based investment firm Moore Strategic Ventures, Sequoia Capital, and the Agnelli (Fiat) Family, among others.

Meanwhile, Cars24 posted a four-fold increase in losses to Rs325.6 crore for the year ending 31 March, 2019 from Rs79 crore in the previous year, the report added. The company’s revenue surged to Rs1,687.7 crore in FY19 from Rs670 crore a year ago.

Barclays Ventures backs SafeHouse

Cybersecurity startup SafeHouse Technologies has raised a sum greater than $2.2 million from venture capital firm Barclays Ventures UK in seed funding, per a statement. Dr. Purnendu Chatterjee of the $4-billion The Chatterjee Group also participated in the round.

Headquartered in Tel Aviv, Israel, SafeHouse has expanded its presence into India and the UK.

“The funds would be appropriated for the promotion of our flagship mobile security app BodyGuard, bolster investment in R&D to enhance the customer experience even more and for the expansion of our operations in India,” SafeHouse spokesperson Aditya Narang said.

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.