<article>Fintech startup <a href="http://dealstreetasia.com/tag/poer2sme" target="_blank" rel="noopener">Power2SME</a> has raised an additional $36 million funding in a Series E round from its existing investors <a href="http://dealstreetasia.com/tag/inventus-capital" target="_blank" rel="noopener">Inventus Capital</a>, <a href="http://dealstreetasia.com/tag/accel" target="_blank" rel="noopener">Accel</a>, <a href="http://dealstreetasia.com/tag/kalaari" target="_blank" rel="noopener">Kalaari</a> and <a href="http://dealstreetasia.com/tag/ifc" target="_blank" rel="noopener">IFC</a> along with Nandan Nilekani.</article>

Fintech startup <a href="http://dealstreetasia.com/tag/poer2sme" target="_blank" rel="noopener">Power2SME</a> has raised an additional $36 million funding in a Series E round from its existing investors <a href="http://dealstreetasia.com/tag/inventus-capital" target="_blank" rel="noopener">Inventus Capital</a>, <a href="http://dealstreetasia.com/tag/accel" target="_blank" rel="noopener">Accel</a>, <a href="http://dealstreetasia.com/tag/kalaari" target="_blank" rel="noopener">Kalaari</a> and <a href="http://dealstreetasia.com/tag/ifc" target="_blank" rel="noopener">IFC</a> along with Nandan Nilekani.
According to an official statement, the startup that caters to the finance needs of small-scale enterprises, plans to use the funds for expansion, new products and innovation, besides investing in marketing related activities and acquisition.
DEALSTREETASIA had first reported that International Finance Corporation, the private investment arm of World Bank, has agreed to make an equity investment of up to $10 million in Gurgaon-based BEBB India Pvt Ltd, which runs Power2SME.
Power2SME, an online hub, aggregates raw material demands of small and medium sized enterprises (SMEs). BEBB, its parent company, was started in January 2012 by R. Narayan with a seed funding of Rs 2 crore.
The company had earlier raised about $44.8 million in five rounds. Last year, the company had raised a $20 million Series D funding round from Nandan Nilekani, the former CEO and co-founder of IT company <a href="http://dealstreetasia.com/tag/infosys" target="_blank" rel="noopener">Infosys</a>, along with its existing investors Accel, Kalaari and Inventus. The three venture capital firms had earlier invested a combined Rs 42 crore in the company’s Series C round of funding in September 2014.
Besides Gurgaon, the company has offices in Mumbai, Chennai, Kolkata, Chennai, Ahmedabad and Pune.
Power2SME provides access to finance by helping its customers obtain working capital financing more efficiently and at better terms through its network of empanelled banks and non-banking financial companies.
&#8220;Power2SME’s goal is to empower SMEs to reach efficiencies of scale, thus, driving profitability for them. Our work has been driven by our vision to make SMEs bankable. Our deep networks and relationships with the banking sector and financial institutions helps us to make our SMEs succeed like never before,&#8221; said its founder R Narayan.
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<a href="https://www.dealstreetasia.com/stories/71584-71584/" target="_blank" rel="noopener">Exclusive: IFC to make up to $10m equity investment in Power2SME</a>
<a class="tinymce-colortext" style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/power2sme-raises-over-20m-from-infosys-nandan-nilekani-other-vcs-28382/" target="_blank" rel="noopener">India: Power2SME raises over $20m from Infosys co-founder Nandan Nilekani, others</a>

Power2SME has raised $36m funding in a Series E round from its existing investors Inventus Capital, Accel, Kalaari and IFC along with Nandan Nilekani.

India: Fintech startup Power2SME raises $36m more in Series E round

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India: Fintech startup Power2SME raises $36m more in Series E round

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