LendingKart raises $87M in funding, Paytm Mall on rapid growth trajectory
> In one of the largest funding rounds in Indian SME space, LendingKart secures $87M. The company on Monday announced the closing of their $87 million Series-C round, one of the largest in the SME lending space, led by Singapore’s Fullerton Financial Holdings Pte Ltd (FFH), a subsidiary of Temasek Holdings.
> Foodpanda, which was recently acquired by Ola, has announced that it is looking to invest Rs 400 crore to strengthen its delivery network. The current investment will help the food delivery startup scale its technology, and build a good experience for its users, riders and restaurant partners across metros and other key cities of India.
> Online-to-offline (O2O) retail platform Paytm Mall has been on a rapid growth trajectory since its launch less than a year ago. The company’s Chief Operating Officer, Amit Sinha, said the company has hit $3 billion Gross Merchandise Value (GMV) run rate for this fiscal and has cornered 15 percent market share. Paytm Mall is targeting over $10 billion GMV next fiscal.
> Online rental startup Furlenco was placed ninth in the list in the list of ‘1000 High-Growth Companies in Asia Pacific’ published by Financial Times on Monday. Tech-enabled logistics services platform Loginext (21), big data startup GoodWorkLabs (33), Delhi-based logistics company Delhivery (44), and food-tech startup unicorn Zomato (49) are among the top 50.