<article><p class="tinymce-colortext" style="text-align: justify;">Temporary staffing company TeamLease Services Ltd will acquire a 40 per cent stake in Schoolguru while digital payments company Benow has bought Finmo and its flagship product DigiBharat.</p></article>

<p class="tinymce-colortext" style="text-align: justify;">Temporary staffing company TeamLease Services Ltd will acquire a 40 per cent stake in Schoolguru while digital payments company Benow has bought Finmo and its flagship product DigiBharat.</p>
<h3 class="tinymce-colortext" style="text-align: justify;">TeamLease to acquire 40% stake in Schoolguru</h3>
<p class="tinymce-colortext" style="text-align: justify;">Temporary staffing company <a href="https://www.dealstreetasia.com/?s=TeamLease+Services+Ltd" target="_blank" rel="noopener"><strong>TeamLease Services Ltd</strong></a> will buy a 40 per cent stake in <a href="https://www.dealstreetasia.com/?s=Schoolguru+Eduserve+Pvt.+Ltd" target="_blank" rel="noopener"><strong>Schoolguru Eduserve Pvt. Ltd</strong></a>, a technology-led specialized academic services organization, for Rs 13.5 crore (about $2 million).</p>
<p class="tinymce-colortext" style="text-align: justify;">The acquisition will help TeamLease strengthen its existing business and create new product offerings, the firm said in a stock market disclosure.</p>
<p class="tinymce-colortext" style="text-align: justify;">Schoolguru was founded in December 2010. The company has a library of 45 undergraduate courses and 30 master&#8217;s courses. It has over 125 employees currently.</p>
<p class="tinymce-colortext" style="text-align: justify;">In May, TeamLease agreed to acquire a 30 per cent stake in Bangalore-based Freshersworld. In January, it had acquired Bangalore-based Keystone Business Solutions Pvt Ltd.</p>
<h3 class="tinymce-colortext" style="text-align: justify;">Mumbai-based Benow buys Finmo</h3>
<p class="tinymce-colortext" style="text-align: justify;">Mumbai-based digital payments firm Benow has acquired Gurgaon-based startup Finmo and its flagship product DigiBharat in a cash and stock deal.</p>
<p class="tinymce-colortext" style="text-align: justify;">The deal amount was not disclosed.</p>
<p class="tinymce-colortext" style="text-align: justify;">UPI-enabled mobile banking app Finmo was founded in 2016. Upon completion of the deal, Finmo&#8217;s existing merchants will be transferred to the Benow platform, according to a company statement. The app enables digital payments for offline retail merchants.</p>
<p class="tinymce-colortext" style="text-align: justify;">“Acquiring Finmo will help us strengthen our base in the industry and increase our merchant and customer base. As a combined entity, we have the capability to become a leader in enabling neighbourhood merchants to accept digital payments,” Sudhakar Ram, founder and CEO of Benow, said.</p>


TeamLease Services Ltd will acquire a 40% stake in Schoolguru while digital payments company Benow has bought Finmo and its flagship product DigiBharat.

India Dealbook: TeamLease to acquire stake in Schoolguru, Benow buys Finmo

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India Dealbook: TeamLease to acquire stake in Schoolguru, Benow buys Finmo

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