India Deal Monitor: Vertex Ventures backs Recko and more updates

Enterprise fintech startup Recko Software Pvt. Ltd has raised $6 million in a Series A round of funding led by Vertex Ventures SEA and India, per an announcement.

The round also saw participation of existing investor Prime Venture Partners. The funds raised will be used towards hiring, product development, and expanding its presence outside India, Recko said in a statement on Thursday.

Founded in 2017 by Prashant Border and Saurya Prakash Sinha, Recko has built a SaaS-based financial reconciliation product that keeps track of the complete transaction lifecycle and commercial contracts for organisations.

The startup claims to have has reconciled transactions worth $5 billion. It is looking to reconcile transactions worth $10 billion by the end of 2020. Its customers include Grofers, Meesho, Dunzo and some of India’s top marketplaces across different industry sectors, the statement said.

INDIA DEAL MONITOR

Here are some prominent venture capital transactions in India from March 30-April 2, 2020.

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)Sector
Recko SoftwareBengaluru6 millionSeries AVertex Ventures SEAPrime Venture PartnersFinTech
ErgosBihar4.6 millionSeries AAavishkaar Capital-AgTech
Camp K12Gurugram4 millionSeedMatrix Partners India, SAIF Partners-EdTech
FurlencoBengaluru10 million- Lightbox, Dabur’s Saket Burman, Kris Gopalakrishnan, Gautham RadhakrishnanAamir KhanConsumer Services
Juspay TechnologiesBengaluru21.6 millionSeries BVostok Emerging Finance (VEF)Wellington Management, AccelFinTech
MedGenomeIndia/US55 millionSeries DLeapFrog InvestmentsSofina, Sequoia CapitalBiotechnology
NykaaMumbai13.3 million-Steadview Capital-E-Commerce

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.