India Dealbook: MyLoanCare, LEAP India, Cricnwin raise funding

By Ishita Russell

May 2, 2018

Fintech startup MyLoanCare, supply chain services provider LEAP India and gaming platform Cricnwin have secured fresh rounds of funding.

Fintech startup MyLoanCare raises $975k in Series A round

Online loans marketplace MyLoanCare, operated by My Finance Care Advisors Pvt. Ltd, has raised Rs 6.5 crore ($975,000) from Ncubate Capital Partners, the venture capital arm of Gurugram-based SAR Group.

MyLoanCare is a B2C online loans marketplace, which helps borrowers avail loans from suitable lenders.

Apart from using the Series A round of funding for branding, enhancing its technology and growth, MyLoancare also plans to enter new segments of the market including cards, savings and investments.

The startup claims to have 22 lending partners and a reach across 1,200 locations in the country.

Avendus Finance provides $3.7m debt to LEAP India

Mumbai-based supply chain services provider LEAP India Pvt Ltd has received Rs 25 crore ($3.75 million) in debt funding from Avendus Finance, the non-banking financial company of KKR-backed Avendus Capital, according to a report in The Economic Times.

As per the news report, LEAP India plans to use the money for its capital expenditure needs and its future growth plans.

The funding comes almost a year after LEAP India raised $13 million in a Series B round of funding from IndiaNivesh Growth Fund. That round had also seen participation from existing investors Mayfield and Marico’s Rishabh Mariwala, who manages Sharp Ventures, the family office of Marico founder and chairperson Harsh Mariwala.

Founded in 2013 by Sunu Mathew, LEAP is engaged in the business of returnable packaging and pooling of equipment such as wooden pallets & boxes, plastic containers, and metal wire mesh catering to all sectors that work with these products to store or transfer goods from one site to another.

Gaming platform Cricnwin gets seed funding

Gaming platform Cricnwin has raised seed funding of an undisclosed amount led by Chinese accelerator and venture fund ZDream Ventures.

According to a VCCircle report, the round also saw participation from a clutch of angel investors, including Ankush Nijhawan, co-founder of Travel Boutique Online; Rahul Khetrapal, owner of Casino Pride; Gaurav Bhatnagar; and Manish Dhingra.

Cricnwin is a fan engagement platform which promotes live gaming, including virtual betting, fantasy leagues as well as in-app match discussions, among other offerings.

As per the news report, the startup is also planning to launch the platform in Hindi and is looking to expand into 10 major cricket playing countries.

Also Read:

LEAP India secures $13m Series B funding from multiple investors

Exclusive: LEAP India secures $3m in bridge round led by Mayfield, in talks to raise $40m more

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.
APPLY NOW

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.
APPLY NOW