Indian startups space is abuzz with deal activity. Goldman Sachs has extended $100-million debt to education financing company MPower while local news startup Lokal has received an undisclosed amount from Y Combinator.
MPower Financing snags $100m from Goldman
The company is looking to broaden its reach to students looking to study in the US and Canada, and also increase its performance in India in the long-term. India currently comprises 25 per cent of MPower’s total loan book.
MPower had raised the same amount from Community Investment Management in December last year. It had also raised an undisclosed sum in an equity financing round led by Gray Matters Capital, among others.
Y Combinator backs Lokal
The startup was a part of the accelerator’s summer 2019 cohort.
Lokal, which is currently available in the Telugu language, wants to reach out out to hundreds of millions of users in India in their regional languages. It already claims to have 2 million users on its platform, the report said. It has earlier raised seed round from India Quotient.