IndiaLends raises $5.1m from DSG, others and 8 more deal updates

Digital lending platform IndiaLends has raised $5.1 million in a financing round led by existing investors ACP Partners and DSG Consumer Partners.

The startup will use the funds to expand its technology platform, increase its market footprint and amplify its product offerings to meet the pent-up demand in a post-COVID economic recovery, it said in a statement.

Founded in 2015 by Gaurav Chopra and Mayank Kachhwaha, IndiaLends uses its automated processing system to offer unsecured credit products to customers through its 50-plus bank and NBFC partners across the country. It claims to have a customer base of over 8 million and has disbursed more than Rs2,000 crore in personal loans since its launch.

“This fresh round of financing comes at a critical point in our business, enabling us to build our services and offer innovative products to our customers, as we usher into the next phase of growth,” said Gaurav Chopra, founder and chief executive, IndiaLends.

INDIA DEAL MONITOR

Here are prominent venture capital transactions in India from March 17-19, 2021.

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)IndustryVerticals
IndiaLendsDelhi5.1 million-ACP Partners, DSG Consumer PartnersFinancial ServicesFintech Lending
PolicybazaarGurugram75 million-Falcon Edge Capital-InsuranceInsuretech
BewakoofMumbai4 million-IvyCap Ventures-RetailE-commerce
PixxelBengaluru7.3 millionSeed-Omnivore, Techstars, Lightspeed Ventures, Blume Ventures, growX, Ryan Johnson Aerospace-
MyGlammMumbai24 millionSeries C-Ascent Capital, Amazon, Wipro ConsumerConsumer ProductsBeauty & Hygiene
Capital Quant SolutionsDelhi--National Stock Exchange-Financial ServicesFintech
Smart JoulesDelhi4.1 millionSeries A-ADB Ventures, Burman Family Office, Max I. Limited, cKinetics Accelerator, Saket BurmanRenewable Energy-
Livve HomesKerala5 millionSeedReal Estate Development & Operating Company Real Estate Tech
ChirrupBengaluru300,000Pre-seedTitan Capital, iSeed, First Cheque, 3.0 Fund-Travel & LeisureeSports

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.