Centrum Capital’s founders are buying a stake in Adlabs Entertainment Ltd even as FinBucket has raised $1.87 million from Impanix Capital.
Adlabs selling a minority stake to Centrum founders
It will allot 6.9 million preferential shares at Rs 72.30 each to Shaan Agro and Realty Pvt. Ltd, owned by Businessmatch Services (India) Pvt. Ltd, a promoter group firm of Centrum Capital, according to a stock market disclosure.
Adlabs will use the money to pare its debt.
The company is looking to raise Rs 650 crore ($100 million) from financial investors including private equity funds like Blackstone Group, Warburg Pincus and TPG, according to a media report last week.
FinBucket raises $1.87m from Impanix Capital
New Delhi-based FinBucket, a platform which connects lenders and borrowers, has raised $1.87 million from Impanix Capital.
Founded by Heena Jain and Parit Garg in 2014, the startup currently offers personal loan, home loan, business loan, credit card and mutual funds.
“Our aim is to invest this money in building our technology and operational team. We will focus on the unserved segment of the market e.g. people who are not getting loans because of poor or no credit score. We will scale up the team to 200 people over the next 6 months,” said Heena Jain.