India Dealbook: Yelo, Satya MicroCapital, Mobikwik in funding news

Photo: Reuters

New-age digital banking startup Yelo has raised its first round of institutional funding while Satya MicroCapital has raised about $4 million through non-convertible debentures (NCDs). Meanwhile, Mobikwik has appointed Indian arm of New York-based investment bank Goldman Sachs for fundraise.

Matrix Partners backs Yelo

New-age digital banking services provider Yelo has raised its first round of institutional funding led by Matrix Partners India. The round also saw participation from Omidyar Network Flourish VC and Better Capital, The Economic Times reported.

Nilesh Agarwal, the co-founder and the chief executive of 0.5Bn FinHealth, which runs Yelo, wants to expand his team to more than 100 within a year from 20 now, and also invest in product development and sales.

Satya MicroCapital raises $4m

New Delhi-based microfinance company Satya MicroCapital has raised about $4 million (Rs 28.50 crore) from a private debt fund managed by Swiss impact investor responsAbility Investments through non-convertible debentures (NCDs).

Satya MicroCapital will utilise the funding to lend to Indian micro, small & medium enterprises (MSMEs).

“This foreign debt fund will help us scale up our operational base to new territories while continuing to develop further credit offerings and ensuring complete end-to-end digitally controlled business processes being deployed,” said Vivek Tiwari, MD & CEO at Satya MicroCapital.

Mobikwik ropes in Goldman for fundraise

Digital payments company Mobikwik has appointed Indian arm of New York-based investment bank Goldman Sachs for fundraise, as it looks to expand into financial services space.

Mobikwik, which has failed to attract bigger funding rounds like its rival Paytm, is looking for a ‘long-term’ strategic investor for its next round of financing, the report said. In July, the company reportedly raised $1.3 million from New Delhi Television Ltd (NDTV) and venture debt firm Trifecta Capital.

Over the last one year, Mobikwik has added new businesses such as lending & micro-insurance.

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.