Saturday, June 03, 2023
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Tiger Global

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

Eugene Karthak and S Vishvanathan join slice’s parent company Garagepreneurs Internet Private Limited (GIPL) as Independent Director and Advisor respectively

Kratos recently acquired IndiaGG, a gaming venture previously owned by Yield Guild Games, through a token swap

The shares were offloaded at an average price of Rs 335.06 per scrip, taking the aggregate deal value to Rs 414.23 crore