<article>While startups Instamojo and Red Fox Protection have raised funds, Magma Fincorp will buy out its partner in joint venture Magma ITL Finance Ltd.</article>

While startups Instamojo and Red Fox Protection have raised funds, Magma Fincorp will buy out its partner in joint venture Magma ITL Finance Ltd.
<h3>Instamojo raises pre-Series B funding from AnyPay</h3>
<a href="http://dealstreetasia.com/tag/instamojo" target="_blank" rel="noopener">Instamojo</a>, an-demand payments and e-commerce platform for SMEs, has raised an undisclosed amount in pre-series B funding from Japanese payments firm, <a href="http://dealstreetasia.com/tag/anypay" target="_blank" rel="noopener">AnyPay</a>.
This investment marks AnyPay’s foray into the Indian market. Instamojo had previously raised over $5 million from investors <a href="http://dealstreetasia.com/tag/kalaari" target="_blank" rel="noopener">Kalaari Capital</a>, <a href="http://dealstreetasia.com/tag/blume-ventures" target="_blank" rel="noopener">Blume Ventures</a>, <a href="http://dealstreetasia.com/tag/500startups" target="_blank" rel="noopener">500 Startups</a> and prolific angel investors Rajan Anandan etc.
&#8220;The latest funding will allow Instamojo to expand its suite of offerings and introduce e-commerce enabling services such as cataloguing, logistics, shipping and GST compliance assistance,&#8221; the company said in a statement.
The company plans to leverage big data and introduce financial services such as lending via third-party providers in the coming months. Instamojo plans to expand its leadership team to meet these goals.
<h3>Security services firm Red Fox Protection receives angel funding</h3>
Security services company Red Fox Protection Services Pvt. Ltd has raised an angel round from Sunil Rawtani, chief executive officer at Artifice Advisors Pvt. Ltd.
The financial details of the deal were not disclosed, according to a VCCircle report, Ratwani will pick up 1per cent stake in the company.
Founded in 2009, the Ahmedabad-based firm currently provices services in Gujarat and Rajasthan, and claims to have a workforce of over 3,000 security personnel.
<h3>Magma Fincorp to buyout JV partners stake in Magma ITL Finance</h3>
Non-banking financial company <a href="http://dealstreetasia.com/tag/magma-fincorp" target="_blank" rel="noopener">Magma Fincorp Ltd </a>will buyout its joint venture partner in Magma ITL Finance Ltd.
According to a filing to the stock exchanges, Magma Fincorp will acquire the 26 per cent stake held by JV partner International Tractors Ltd, fir an undisclosed amount.
Once the transaction is completed, Magma ITL Finance will become a wholly-owned subsidiary of Magma Fincorp.
Magma Fincorp had partnered with automobile firm International Tractors Ltd to set up the Kolkata-based non-deposit taking non-banking financial company Magma ITL Finance. It began commercial operations of tractor financing in July 2008.
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While startups Instamojo and Red Fox Protection have raised funds, Magma Fincorp will buy out its partner in joint venture Magma ITL Finance Ltd.

India Dealbook: Instamojo & Red Fox raise funding, Magma Fin to buy out partner in JV

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India Dealbook: Instamojo & Red Fox raise funding, Magma Fin to buy out partner in JV

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