While Spice Digital is investing up to $3.9 million in AnyTimeLoan, prop-tech startup Foyr has raised $3.8 million from JLL and others. Also, Wipro has put in an additional $2 million in US-based tech firm Imanis.
Spice Digital to invest up to $3.9m in AnyTimeLoan
Spice Digital, a subsidiary of mobile phone company Spice Mobility, has agreed to invest up to Rs 25 crore in peer-to-peer lending platform AnyTimeLoan, operated by Luharia Technologies Pvt Ltd (LTPL).
“As part of the digital strategy, fintech will be one of our core areas of growth. Given the lack of access of formal credit to a significant part of the population, we believe that new age digital platforms can help bridge this gap, bringing a larger population base into the formal financial economy,” Dilip Modi, chairman of Spice Mobility, said in a statement.
Spice Mobility runs Spice Money, a fintech business offering financial services.
“SDL (Spice Digital) will invest in 0.1 per cent Compulsorily Convertible Preference Shares of LTPL which will result in a minimum shareholding of 30 per cent of the issued and paid up Equity Share Capital of LTPL upon conversion of the said CCPS in Equity shares of LTPL,” as per a stock exchange filing.
Prop-tech startup Foyr raises $3.8m from JLL, others
The Hyderabad-based company was initially seed funded by Astarc Ventures and Brick Eagle. JLL India Real Estate Technology Ventures had first invested in Foyr in October last year.
“With the latest round of funding, Foyr will enhance its technology stack and launch new products by next year,” according to an official statement. “The funding will enable deeper integration of Foyr’s proprietary technology in real estate projects and expansion of the brand in global markets,” it added.
Founded in 2015, Foyr uses technology, virtual reality and real-time market intelligence to provide visualization solutions to home owners, architects, interior designers, builders and the real estate.
Wipro invests $2m more in US-based Imanis
Indian technology major Wipro Ltd has invested another $2.05 million in US-based Imanis Data, formerly known as Talena.
With this latest funding, Wipro’s total investment in Iman is $4.05 million, according to a stock exchange filing. The transaction has been done through cash and note conversation, it added.
Wipro has acquired minority stake of less than 20 per cent on a fully diluted basis in Delaware-headquartered Imanis, which was founded in 2013.
The Indian software company had earlier invested in the US-based software company in 2015 through its venture capital arm, Wipro Ventures.