Neokred Technologies on Wednesday said it has completed its seed round of fundraise at an undisclosed investment led by Singapore based multinational company Virenxia Group. Another investor in the seed round was Nitin Agarwal, founder of cryptocurrency exchange B21 Invest and payments platform provider PayGlobal.
Neokred operates an eponymous financial service that allows corporates, fintechs, and startups to launch respective plug-n-play banking services using customizable tools.
“With the immense growth Neokred has achieved in the last six months, we plan to ramp up our technology offerings and diversify into other products such as Savings, Rewards, Pay Later etc.,” Neokred co-founder Rohith Reji said in a statement. CEO Tarun Nazare added that the company will look at raising another round in 2021 to fuel their plans.
Neokred expects to grow at least 10 times in the next 12 months. Commonly clubbed under the industry jargon neobanking, Neokred develops and adds a layer of technology to traditional bank infrastructure to revamp services such as branded card management, account management, and payouts.
Fable Fintech on Wednesday said it has raised a round of Series-A stage funding at about $5 million. Investors included Pentathlon Ventures, and multiple angel investors.
Returning investors comprised Paytm and Infibeam Avenues, as per a statement. The angel investors included stock market investors Ashish Kacholia and Lashit Sanghvi, former Wall Street banker Sumeet Kanwar, former Mastek CFO Farid Kazani, content producer and entrepreneur Shilpa Ramani.
Current shareholders at Fable Fintech include ICICI Bank, Secocha Ventures, and Muthoot Fincorp.
Founded by Naushad Contractor, the Mumbai based startup powers the cross-border remittance and payments processing solutions offered by banks, money transfer operators, money service businesses (MSB) and other licensed entities to their retail and small and medium enterprises (SME) customers.
Fable Fintech caters to 20 banks, currency exchange companies, and MSBs across eight countries including HDFC Bank, ICICI Bank IDFC First Bank, Canara Bank in India. The new capital infusion will help the company enter new markets globally, as well as expand its products portfolio.
Bambinos Learning Solutions said it has raised $500,000 in a seed stage funding on Thursday from high net worth and angel investors including Curefit founder Ankit Nagori, xto10x co-founder Neeraj Aggarwal, and Netflix India director of business development Abhishek Nag.
The Bengaluru based startup offers over 40 live interactive online courses to over 15,000 children (4 to 12 years) across categories visual arts, personality development, dance, music, and communications.
The digital extracurricular learning business was founded in June 2020 by IIT Calcutta alumnus Ashish Gupta, who worked at multiple leadership positions at Amazon and Curefit. Co-founder and IIM Shillong alumnus Ankit Hetamsaria held senior jobs at Flipkart and Curefit.
The fresh infusion will help the company target $2 million in annual recurring revenues in six months, as per a statement.
Matrix Partners India on Thursday said it has led a $3 million seed stage funding at Createjoy Technologies, parent operator to Crejo.Fun.
Other investors in the round included venture capital firm 021 Capital, Flipkart CEO Kalyan Krishnamurthy, Udaan co-founder Sujeet Kumar, PhonePe co-founders Rahul Chari and Sameer Nigam, Cred founder Kunal Shah, former ICICI Ventures CEO Prashant Purker, xto10x founder Saikiran Krishnamurthy, former Flipkart CPO Mekin Maheshwari, Growthstory founder Srinivas Anumolu, Curefit founder Ankit Nagori, Groww founder Lalit Keshre, Flipkart senior vice president Anil Goteti, angel investor, Giridhar Malpani, and Gemba Capital.
The fresh infusion will be used in hiring, and product and content development.
Founded in 2020 by IIM Bangalore alumni Vikas Bansal and Ankit Agarwal, Crejo.Fun offers online extracurricular courses to children. All classes are conducted in Crejo’s proprietary FunRoom, a classroom platform that uses computer vision, animations and gamified content. Currently it offers in categories of yoga, dance, and art and craft, with plans to expand into more.
Business services provider to startups xto10x on Wednesday said it acquired Dockabl, a human resources technology startup to expand its HR suite of services for an undisclosed amount.
“Dockabl’s powerful performance management modules on employee reviews, recognition, OKRs, and feedback are now a part of xto10x’s combined suite of offerings for startups and enterprises,” as per a statement.
Founded by Binny Bansal, Saikiran Krishnamurthy and Neeraj Aggarwal, xto10x’s product includes 10xGoals (OKR strategy to execution platform) and 10xPeople (employee sentiment analysis and engagement platform).
xto10x helps organizations scale with efficiency across 10 key scaling pillars such as business design, OKRs (Objectives and Key Results), people and culture and operational excellence. It has worked with over 150 brands including Cred, Licious, Meesho, ClearTax, Dunzo, upGrad, SuprDaily, Hopscotch and Sterlite, till date.
2017-Dockabl has serviced Becton, Dickinson and Company, Bajaj Capital, Airbnb, and Porter.
United States and Canada based QYOU Media on Tuesday said it will acquire India based influencer marketing company Chatterbox Technologies operating with the brand Chtrbox, for an undisclosed amount.
Chtrbox will continue to run as an independently positioned brand, as per a statement. Pranay Swarup, Founder & CEO, and Julie Kriegshaber, COO, will continue in their leadership roles with Chtrbox.
Founded in 2016, and based in Mumbai and Delhi, Chtrbox offers its clients end-to-end influencer content solutions, including a pool of over 300,000 influencers, from celebrities, social media stars, Gen-Z creators to micro and nano influencers.
“The acquisition will lead to a substantial expansion of QYOU’s influencer marketing business in India and also deliver immediate and accretive capabilities to QYOU’s India broadcast operations, through acceleration of the company’s content, advertising and e-commerce initiatives,” as per a statement.