The startup world may never ride the high waves of 2015 but 2017 proved that big ticket funding is not a thing of the past. After a year of drought in 2016, the stars of the Indian startup ecosystem came back to prove they still possess the confidence of the investors.
However, the downtrend of 2016 did result in substantial cutback on their valuations. While Flipkart ended its drought with $1.4 billion from Tencent, Microsoft, eBay, and Naspers in April this year at a reduced valuation of $11.6 billion (from $15 billion), Ola raised $404 million from Falcon Capital and Softbank Group a few days later at a reduced valuation of $3 billion (from $4.5 billion).
Continue reading “Loan Frame named in India’s top funded startups for 2017 | Economic Times”
Rising non-performing assets (NPAs), overleveraged large companies and the general unwillingness of banks to lend money has meant small businesses are now finding it next to impossible to raise money. As loan portfolios sour, banks do not want to take the risk of lending to an SME.
Coupled with that is the fact that a large number of small businesses have no access to formal sources of finance, are under banked or have little or no credit history. For these businesses, there is no chance of getting a bank loan. It is with this understanding that a troika of entrepreneurs banded together to start Loan Frame.
Continue reading “Struggling to raise money? AI-powered bank loans from Loan Frame can help | Economic Times”
Small and medium enterprise-focused online lending platform Loan Frame Technologies has raised a seed round of $2.25 million (about Rs 15 crore), the latest venture-backed transaction in the country’s web-based lending space.
The investors in the round include Parag Saxena, co-founder of Vedanta Capital, William Campbell, former chairman of Visa International and Toos Daruvala, co-chief executive of MIO Partners, an internal investment arm of global consultancy McKinsey and Co. Saxena is also the founding general partner of private equity firm New Silk Route.
Continue reading “Loan Frame raises Rs 15 crore in seed round | Economic Times”
Gurgaon-based fintech startup Loan Frame Technologies Pte Ltd has raised $2.25 million (Rs 15.3 crore) in seed investment led by Vedanta Capital, a top company executive told Techcircle.
Other investors who participated in the round include William Campbell, former chairman of Chase Card Services, and Toos N Daruvala, co-CEO of MIO Partners, Inc., McKinsey Investment Office.
Continue reading “Exclusive: Vedanta Capital leads seed round in fintech firm Loan Frame | VC Circle & Tech Circle”