India Dealbook: Mitrata, PGO, goStops secure funding

Mitrata Inclusive Financial Services Pvt. Ltd. has raised funding from Sadaf Sayeed, chief executive officer at Muthoot Microfin. Separately, hostel and co-living booking platform PGO and goStops, a premium chain of youth traveller hostels, have secured funding.

Muthoot Microfin CEO invests in Mitrata

Women-focused microfinance company Mitrata Inclusive Financial Services Pvt. Ltd. has raised an undisclosed amount in Series A funding from a clutch of individual investors, VC Circle reported.

Sadaf Sayeed, chief executive officer at Muthoot Microfin, was among the investors in Mitrata.

Mitrata, formerly known as Sona Finance Pvt. Ltd., provides credit facility to the marginalised, excluded and vulnerable groups for enterprise development and other essential needs.

PGO raises $2m funding

Hostel and co-living booking platform PGO has raised $2 million in equity funding from Sreeni Musani of Ektha Pvt. Ltd. and Narsi Reddy Posham of IRA Reality Pvt. Ltd.

The startup will use the funds to consolidate its service offerings, expand its presence into new cities, and upgrade its technology.

Founded in 2018, PGO is operated by Thinkwide Hospitality Pvt. Ltd. By the year 2020, Thinkwide aims to introduce PGO services to 10 more additional cities and add 10,000 more properties on its mobile and web platforms.

Nazara founder backs goStops

Delhi-based startup goStops, a premium chain of youth traveller hostels, has raised an undisclosed amount in funding from angel investors.

The investors included Nitish Mittersain (Founder and MD of Nazara Games), Sorabh Agarwal (Ex-MD at Copal Partners), Sameer Walia (Founder and ex-MD at The Smart Cube), Rohit Shankar (Co-Founder of Dimdim.com), Sunil Kumar Singhvi (Owner at South Handlooms), and other senior corporate executives.

goStops will use the funding proceeds to expand its presence across the country by doubling its bed capacity in the next 12 months. It currently boasts of presence in 13 cities with about 800 beds capacity.

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.