ItzCash to strengthen hold in expense management, backs fintech startup Finly

For-THB-Story-TC_ThinkstockPhotos-520095558Mumbai-based digital payments company ItzCash Card Ltd has made an undisclosed equity investment in Bangalore-based expense management firm Finly. ItzCash will use the funds to strengthen its play in the expense management vertical, which is estimated to be a $25 billion opportunity for corporates in India, the company said in a statement. Founded by Veekshith […]

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Exclusive: ItzCash in talks with several fintech mobile companies for potential investment

ItzCash_MDMumbai-based digital payments facilitator ItzCash is in talks with several mobile application firms for making a strategic investment, said a top company executive. The company, which would turn profitable in FY2016-17, is looking for firms specialising in fintech mobile applications which can be scaled with further investments. It is open to explore options including acquisition, […]

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Helpshift raises $23 mn from Microsoft Ventures, Salesforce Ventures, others

L to R: Abinash Tripathy & Baishampayan Ghose, Co-founders, HelpshiftPune- and San Francisco-based mobile customer relationship management (CRM) company Helpshift Inc. has raised $23 million (around Rs 153.6 crore) in a Series B funding round led by Microsoft Ventures and Salesforce Ventures. Existing investors Intel Capital, Nexus Venture Partners, True Ventures and Visionnaire Ventures also participated in the round. With the latest round, Helpshift […]

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123Greetings and 123Stores.com’s venture capital backer logs out

exit_feIntel Capital, the corporate venture capital arm of chipmaker Intel Corp, has exited its over eight-year-old investment in IntraSoft Technologies Ltd, the Indian operator of US-focused e-gifting venture 123Greetings.com. It sold its remaining 5.3% stake in the public listed firm on Friday for Rs 29.2 crore ($4.4 million). This comes just weeks after it trimmed […]

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Online pharmacy 1mg raises funds from Swiss investor firm HBM Healthcare

1MGOnline drug marketplace 1mg, operated by Gurgaon-based 1mg Technologies Pvt Ltd, has secured funding from Swiss investment firm HBM Healthcare Investments in an addition to its recently closed Series B round. This is HBM’s first direct investment in a digital health company in India, 1mg said in a statement. The company last month raised Rs […]

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Exclusive: Intel Capital’s Kuppam floats tech VC firm

Sudheer Kuppam, who recently quit as India and Asia Pacific managing director of Intel Capital, has floated a new venture capital and growth equity firm for investments in technology startups. He would join a roster of top names in the Indian private equity and venture capital business who floated independent investment outfits. FOR FULL REPORT […]

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Intel Capital president Arvind Sodhani to retire

Arvind Sodhani, the Indian origin executive who has been president of Intel’s corporate venture capital arm Intel Capital since 2005, will retire in January, ending a 34-year career with parent company Intel. The chip maker’s venture capital operations after Sodhani’s departure would be headed by Wendell Brooks, who would also continue to serve as president […]

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Data centre firm NxtGen raises $13.5M from IFC, Axon Partners Group, Intel Capital

Bangalore-based IT infrastructure services provider NxtGen Datacenter & Cloud Technologies Pvt Ltd has raised $13.5 million (Rs 86 crore) from International Finance Corporation (IFC), private sector lending arm of the World Bank, Axon Partners Group and existing investor Intel Capital. The money from this Series B round of funding would be used by NxtGen to […]

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