Tuesday, May 21, 2024
Outlook India
Outlook Business

Tiger Global

It enables traders to set up trading strategies and automate trade executions

The global venture capital firm had secured around $20 billion across two funds between April 2021 and February 2022

PhonePe has now raised a total of $850 million of primary capital in the current round till the end of May

The Series B3 funding will enable the company to further strengthen its global market share and multiply value delivery and service quality across industry segments

The US-headquartered investment body might invest $40 million at a valuation of $650 million

The company, which also counts Tiger Global among its external investors, is aiming for a 10-times jump in its customer base to 10 crores in the next five-six years

The move is expected to increase the fintech firm's revenue and margins and allow it to offer longer-term personal loans with higher ticket sizes

With a valuation of $6.5 billion, Cred aims to compete with major UPI players like PhonePe and Google Pay, while navigating challenges such as losses and increasing its revenue

This move comes at a time when the larger edtech sector is experiencing a slowdown in business and funding

The VC firm has also reduced its stakes in other Indian startups amid regulatory and financial difficulties