Startup Funding Alert: Mumbai Based B2B Startup Bulk MRO Raises Rs 25 Crore In Debt Funding

#startups #supplychain #finance #fundingalert #startupfunding

Mumbai-based #B2B startup Bulk MRO Industrial Supply has raised Rs 25 crore in debt funding from Delhi-based Stride Ventures.

Founded by Gaurang Shah and Devang Shah in 2015, Bulk MRO is a B2B startup that enables the supply chain procurement needs of its customers and suppliers globally.

Bulk MRO also runs a fintech platform, Bulk Udhaar. Bulk Udhaar offers supply chain financing solutions to its suppliers and customers.

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Mumbai Based B2B Startup Bulk MRO Raises Rs 25 Crore In Debt Funding

B2B startup Bulk MRO has raised Rs 25 crore in debt funding from Delhi-based Stride Ventures. The venture fund has also partnered with one of India's leading banks for the deal. Founded by Gaurang Shah and Devang Shah in 2015, Bulk MRO is a Mumbai-based B2B startup that enables the supply chain procurement needs of its customers and suppliers globally.

Fintech Card Solutions: Mastercard set to acquire Finicity for $825m

#fintech #openbanking #lending #mastercard #visa #mergersandacquisitions

Mastercard has agreed to buy Finicity, a financial data aggregation start-up Plaid, for $825 million.

If performance targets are met, Finicity’s existing shareholders will earn up to $160 million on top of the sale price, taking the total value of the deal to $985 million.

This follows a similar move by rival Visa in January, which saw the card issuer giant buy data aggregator fintech Plaid for five times the price of Finicity at $5.3 billion.

Much like Plaid’s open banking services, Finicity allows financial services firms to gain financial insights around payments, account and asset verification, and transactions.

The card issuer giant also wants to focus on improving credit decisioning, and envisions that the integration of Finicity’s account owner verification tools will speed up automated clearing house (ACH) and real-time payments.

Earlier this month, it was revealed that Visa’s acquisition of Plaid is being investigated by the UK’s Competition and Markets Authority (CMA). This raises questions over Mastercard’s acquisition of Finicity, and whether it too will fall under regulatory scrutiny over potential impacts to competition.

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Mastercard set to acquire Finicity for $825m - FinTech Futures

Mastercard is buying Finicity, a financial data aggregation start-up, for $825m. Existing shareholders will earn up to $160m on top of the sale price.

Funding Alert - Vizag startup gets funding from Singaporean firm for developing CONNETIN BOT

#startups #startupindia #startupfunding #fundingalert #bots

Vishakapatnam (Vizag) -based startup Verbindung Geschaft India Pvt. Ltd has secured funding from a Singaporean firm, Govin Capital Pte Ltd, bucking a trend of economic decline precipitated by the #COVID19 pandemic, to accelerate the development and commercialisation of a software product called CONNETIN across India, Singapore and the United States.

The new investment would enable CONNETIN to further capitalise on its position as a pioneer in servicing the #SME sector in India and globally, where there was an unmet need for affordable business operational tools (CONNETIN BOT) and enhance their business opportunities.

CONNETIN works to provide right-time finance to the SME units as a credit line system. The product helps a business digitise its operations, which further leads to transparency. The platform enhances the firm’s business profile, does networking among other businesses, and leverages on new business opportunities, thus building credibility. Transparency and credibility are the key sources for any financial institution to provide finance.

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Vizag startup gets funding from Singaporean firm

A city-based startup has secured funding from a Singaporean firm, bucking a trend of economic decline precipitated by the COVID-19 pandemic. Verbindung Geschaft India Pvt. Ltd, a startup developing innovative products for the SME sector, has received funding from Govin Capital Pte Ltd to accelerate the development and commercialisation of a software product called Connetin across India, Singapore and the United States.

Startup Ideas - There are many FinTech opportunities in India to aggregate and channelize financial savings

In India, there is a tremendous scope for startups in enabling access to small investors for investing in corporate debt, govt bonds, gilts, gilt funds and liquid funds, which earn better post-tax returns than fixed deposits, with low or nil risk and also with negligible or nil entry and exit load.

Similarly, many Indian #SMEs don't know how to manage their treasury operations, as they cannot afford a specialist to do the same. So, startups can step-in as a treasury manager and help #SMEs to manage their short term surplus money more efficiently, by investing these short term funds in suitable government debt, gilts and securities and private gilt and liquid funds.