Tech Financing in India this week – Fintech fever continues 2017-11-11

Our weekly column summarizes the tech financing highlights in India this week.

Fintech was the best performer in India’s tech market over the past week. Loan financing startup Kissht raised USD 10 million, and mutual fund investment startup Fisdom raised USD 3.84 million. Other top performers from the week were online education startup Merination, which raised USD 5.8 million, online grocery platform Bigbasket, which raised USD 8 million, and healthtech app DocTalk, an app that allows patients and doctors to message each other, which raised USD 5 million.

Loan financing startup Kissht raises USD 10 M

Kissht

Founder: Krishnan Viswanathan

Founded in: 2015

Financing status: USD 10 million for undisclosed round in 2017

Loan financing startup Kissht raised USD 10 million to improve its data science capacities by hiring additional engineers and analytics experts. Kissht also aims to enlarge its footprint and hopes to enter the fintech markets in about 20 Indian tier II and III cities.

Photo from Fisdom website

Fintech startup Fisdom raises USD 3.8 M for Series B

Fisdom

Founders: S.V. Subramanya, Ramganesh Iyer, and Anand Dalmia

Founded in: 2015

Financing status: USD 3.8 million for a Series B round

Fintech startup Fisdom raised USD 3.8 million for Series B to improve its technology, hire new employees, and acquire more customers. It will also reportedly begin rolling out new products, such as special insurance offerings.

Elearning startup Merination raises USD 5.8 M

Merination

Founders: Pavan Chauhan and Ritesh Hemrajani

Founded in: 2007

Financing status: USD 5.8 million for undisclosed round in 2017

Elearning startup Merination raises USD 5.8 million to settle some of its debts, while the rest will be spent on growing the company’s operations.

Photo from Pixabay

Online grocery platform Bigbasket raises USD 8 M

Bigbasket

Founders: V. S. Sudhakar, Hari Menon, Vipul Parekh, Abhinay Choudhari, and V. S. Ramesh

Founded in: 2011

Financing status: USD 8 million for undisclosed round in 2017

Online grocery platform Bigbasket raises USD 8 million to compete with its rival Grofers, an online grocery shopping store.

Healthtech startup DocTalk raises USD 5 M

DocTalk

Founders: Krishna Chaitanya Aluru, Akshat Goenka, and Vamsee Chamakura

Founded in: 2016

Financing status: USD 5 million for first institutional round

Healthtech startup DocTalk raises USD 5 million to put the money toward enlarging the number of hospitals in its network. The startup will also hire a new employees to support its continued growth.

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