Digital lending platform FlexiLoans.com on Monday said it has acquired Mumbai-based supply chain financing platform, CreditPeriod.com for an undisclosed sum to strengthen its supply chain financing vertical.
CreditPeriod.com enables SME buyers to procure goods and services on credit while ensuring the sellers get their money upfront.
"The CreditPeriod.com acquisition strengthens our position to serve the deeply underserved supply chain market for the SME eco-system," Deepak Jain, co-founder at FlexiLoans.com said.
Ummeed Housing Finance raises $5.6m led by Lok
Delhi-based affordable housing finance company, Ummeed Housing Finance today announced it has raised Series B funding of $5.6 million from existing investors Lok Capital Growth Fund (Lok's third fund) and Duane Park.
The fun raising comes on the heels of the first institutional funding of $3.5 million raised from Lok and Duane Park in October, 2016, the company said in a statement.
The fresh round of investment will fuel the company's expansion plans to new locations in North and Central India, lead to investments in SMAC (Social, Mobile, Analytics and Cloud) technologies and grow assets under management by six times in the next year, it said.
Founded in January 2016 Ummeed now has three branches in Delhi, Chandigarh and Jaipur and has close to Rs.20 crores assets under management (AUM), it said.
Uber revamps mobile application for global & Indian markets
Ride hailing aggregator Uber on Monday rolled out a newly designed and re-engineered mobile, across android and iOS platforms.
The company said this would facilitate faster and more personalised experience.
"The newly designed rider app is unique as we rebuilt it from ground up to deliver a much faster and improved interface for ride," Apurva Dalal, Head of Engineering, Uber India, said.