India beats China in fintech investments; Blackbuck raises $150M in Series D

Thursday May 02, 2019 , 3 min Read

India is now the leading fintech startup hub in Asia, attracting a larger volume of investments in the first quarter of 2019. According to CB Insights, fintech startups in India received VC investments of $286 million for the first quarter of 2019, whereas fintech startups in China received $192.1 million during the same period, a drop of 87.56 percent over the last year.

Bengaluru-based online marketplace for trucking, BlackBuck has closed a $150 million (Rs 1,050 crore) round of equity funding led by Goldman Sachs Investment Partners and Silicon Valley-based Accel. Wellington, Sequoia Capital, B Capital and LightStreet, Sands Capital, and International Finance Corporation also participated in this round. This takes the total amount of funding raised by the company to over $230 million.

While the total number of transactions stabilised month-on-month, the total value transacted grew by almost 6.4 percent, reaching Rs 1.42 lakh crore in April. Last month, this number stood at Rs 1.33 lakh crore. The average transaction stands at Rs 1,816 this month, a steady growth from last month when the average value per transaction stood at Rs 1,700.

@Leisure Group, a vacation rental company in Europe, manages holiday parks, homes, and apartments. While the details of the acquisition were undisclosed, OYO will acquire the company from Axel Springer. Leisure Group currently offers more than 30,000-fully managed holiday homes across 13 countries in Europe with a subscription-based home management service with over 85,000 homes across 50 countries.