PagarBook is in advanced discussions to raise $7 million funding from existing investor Sequoia Capital while Susquehanna International Group (SIG) is looking to invest in mobile gaming platform Mobile Premier League (MPL), Entrackr reported.
PagarBook in talks to raise funding from Sequoia
“The talks have been on for the past two months and a term sheet has already been given by Sequoia,” the report said quoting sources.
Founded by Adarsh Kumar and Rupesh Kumar Mishra, PagarBook helps small companies maintain attendance, salaries, advance payments, and payroll management. The startup had earlier raised Rs 15.2 crore and Rs 30 lakhs from Sequoia’s Surge Ventures and Kunal Shah’s QED Innovation respectively.
Susquehanna International eyes MPL
The contours of the transaction have almost been finalised, the Entrackr report said. The deal is likely to value MPL at about $350-380 million.
The startup has raised $40.5 million in funding to date. It last raised $35.5 million in Series A round led by Sequoia India, Times Internet and Go-Ventures, the venture capital arm of Indonesia’s GOJEK in April last year. Prior to that, it had raised $5 million in seed funding from Sequoia, BEENEXT, and others.