[Weekly Funding Roundup] Startups elevate over $183M in fairness offers this week; fintech in the limelight

Fintech Zoom - 29th February 2020

The final week of February noticed fintech firms hogging the funding limelight, regardless of a decline within the general quantum of funds raised by Indian startups.
Within the week between February 24 and 28, the whole funds raised by Indian startups stood at $183.23 million in fairness unfold throughout 14 offers. Nonetheless, the whole funding raised was down by 39 p.c in comparison with the earlier week, which raised the whole of $254.56 million. This week, UPI funds and digital lending startup BharatPe raised $75 million (or Rs 535 crore) as a part of its Sequence C funding spherical led by US-based Ribbit Capital and hedge fund Coatue Administration. Apart from that, Flipkart-owned digital funds firm PhonePe raised around Rs 427.25 crore from its dad or mum agency in one other spherical of funding.
Progress-stage funding dominated the whole quantity raised at $136 million, adopted by early-stage funding at $24 million, and late-stage funding at $22.eight million. This week, Bengaluru-based MinionLabs raised an undisclosed quantity from Indian Angel Community. The funding spherical was led by outstanding IAN buyers Kaushik Rajan of Kochi Holding Personal Restricted and R Mohan Kumaramangalam.

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About MinionLabs

MinionLabs is the World Leader in Energy Efficiency for Cities, Businesses, and Consumers for the Internet of Things. Our Artificial Intelligence-based products, systems, and services enable our users to be energy efficient, reduce carbon footprint, prevent climate change and make people’s lives safer and comfortable, and businesses more productive and cities more livable in a sustainable way. Visit us at www.minionlabs.tech