While fintech startup Open has raised a funding round led by Unicorn India, IIFL Special Opportunities Fund has acquired minority stake in Bikaji Foods and Crest Venture has picked the remaining stake in Tullett Prebon (India).
Fintech startup Open raises pre-Series A round led by Unicorn India
Open, a digital banking service provider for small businesses, has raised an undisclosed amount in its pre-series A funding round led by Unicorn India Ventures and Recruit Co. Ltd, through its investment subsidiary RSP India Fund LLC.
Existing investors ISME-ACE and Vaibhav Domkundwar’s BetterCapital AngelList syndicate also participated in the round.
The fintech startup plans to use the proceeds for customer acquisition as well as to enhance its core platform to launch new products.
IIFL AMC fund acquires minority stake in Bikaji Foods
While the quantum of the stake purchased was not disclosed, according to the news report, the stake was acquired through a mix of primary and secondary investments. Lighthouse Funds-backed Bikaji Foods is planning to go public to raise about Rs 700 crore to help fund its expansion plans.
Crest Ventures picks up remaining 48% stake in Tullett Prebon (India)
Non-banking financial company Crest Ventures Ltd is acquiring the remaining 48 per cent stake in financial services firm Tullett Prebon (India) Ltd from Prebon Holdings BV for Rs 4.52 crore ($670,000) in an all cash deal.
According to a stock exchange disclosure, on completion of the deal, Crest Ventures’ stake in Tullett Prebon (India) will increase to 99.99 per cent from 51.99 per cent.
Tullett Prebon (India), which began operations in 1999, is an intermediary in the wholesale debt market, foreign exchange market and rupee options.