<article>Chinese smartphone and electronics maker Xiaomi is in talks to invest in ZestMoney, while Reliance family office is looking to acquire online education portal Embibe.</article>

Chinese smartphone and electronics maker Xiaomi is in talks to invest in ZestMoney, while Reliance family office is looking to acquire online education portal Embibe.
<h3>Chinese firm Xiaomi in talks to back fintech startup ZestMoney</h3>
Chinese smartphone and electronics maker <a href="http://dealstreetasia.com/tag/xiaomi" target="_blank" rel="noopener">Xiaomi </a>is in discussions to acquire a stake in Bengaluru-based financial technology startup <a href="http://dealstreetasia.com/tag/zestmoney" target="_blank" rel="noopener">ZestMoney</a>, according <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/xiaomi-is-in-advanced-talks-to-pick-up-stake-in-zestmoney/articleshow/63675367.cms" target="_blank" rel="noopener">a report</a> in The Economic Times quoting sources.
Both companies already have a partnership under which Xiaomi offers EMI-loans for products on its online portal Mi.com. The proposed investment is also likely to see closer integration between them to push sales on Mi.com, according to the sources cited in the report.
ZestMoney is reportedly in the midst of raising a $20-million funding round, which is also likely to see participation from existing investors like payments company PayU.
In February last year, ZestMoney had raised $6.5 million in a series A round of funding led by Naspers-owned PayU, along with participation from existing investors including US-based Ribbit Capital and Omidyar Network, and some individual investors.
<h3>Reliance family office eyes majority stake in edtech startup Embibe</h3>
The Reliance family office, led by billionaire Mukesh Ambani, is in advanced talks to pickup a majority stake in online education portal <a href="http://dealstreetasia.com/tag/embibe" target="_blank" rel="noopener">Embibe.com</a> for around Rs 100 crore, said a source-based <a href="https://economictimes.indiatimes.com/news/company/corporate-trends/reliance-family-office-close-to-buying-majority-in-embibe-com-for-rs-100-crore/articleshow/63672438.cms" target="_blank" rel="noopener">report</a> in The Economic Times.
“The discussions were on for some time after the Reliance family office directly approached the portal,&#8221; said one of the sources quoted in the report adding that there is no investment banker involved in the deal.
The promoters and existing investors are likely to sell their stake in the Mumbai-based startup, which prepares students for competitive entrance tests.
&#8220;Reliance would need content when data becomes big, especially as Jio keeps increasing its holding in this segment. Education is only one sector where the data play was missing from the company’s standpoint, which would be complete after the acquisition,&#8221; said another source.
Also Read:
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/india-zestmoney-raises-6-5m-65002/" target="_blank" rel="noopener">India: Fintech co ZestMoney raises $6.5m in Series A led by Naspers-owned PayU</a>

Chinese smartphone and electronics maker Xiaomi is in talks to invest in ZestMoney, while Reliance family office is looking to acquire online education portal Embibe.

India Digest: Xiaomi looks to back ZestMoney; Reliance family office eyes Embibe

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India Digest: Xiaomi looks to back ZestMoney; Reliance family office eyes Embibe

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