Bengaluru-based digital lending major Capital Float has raised $15 million (approximately Rs 107 crore) from its investors, including Sequoia Capital, Ribbit Capital, Amazon and Saif Partners, in an internal funding round, according to two people in the know of the matter.The funding, which comes after talks with external investors failed in 2019, could have happened at a reduced valuation, said one of the sources.Tech2 could not independently verify the valuation at which the deal happened but the five-year-old digital lender seems to have come out of 2019 bruised but wiser and is looking to put the lessons learned into streamlining its business.Close “For now, we will concentrate on two factors: good economics and how to build customer lifetime value,” said Sashank Rishyasringa, who, along with co-founder Gaurav Hinduja, shared his plans with Tech2. They, however, refused to comment on the fundraising. related news Ola incentives lure drivers, numbers rise 10% after pay structure review: Report OYO rolls out benefits for retrenched staff Swiss residency, startup incubation and real estate investments: All on offer for Indians, others Tough yearThe Amazon-backed startup was seeking a $500-million value when it was talking to PayU to lead the round last year. Questions about the… Read full this story
- Quadria Capital plans to raise $300 mn healthcare fund
- LNG the fuel of the future
- Saudi Aramco hits Crown Prince's $2 trillion goal despite valuation doubts
- Elliott-backed Triple Flag scraps IPO, signals tough 2020 for listings
- Lyft’s imminent IPO could value the company at $23B
- Union Budget 2015: Bold steps in BFSI to ensure economic growth, says EY
Capital Float raises $15 million from investors have 252 words, post on www.moneycontrol.com at January 14, 2020. This is cached page on VietMaz. If you want remove this page, please contact us.