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Funding Digest: Finzy, SmartCoin, Cash Suvidha, MoveInSync & more

Company Name: Finzy
Amount raised: $1.3 million
Type: Pre-Series A
Sector: Fintech/Lending
Date announced: 3rd April 2018
Investors: Unspecified
What they will use the funding for: The company will use the funding to accelerate growth by investing in technology, making the processes leaner and faster and in building the team.
Source: Business-standard

Company Name: SmartCoin
Amount raised: $2 million
Type: Pre-Series A
Sector: Fintech/Lending
Date announced: 28th March 2018
Investors: Chinese VC fund
What they will use the funding for: The company plans to utilize funds for upgrading its technology platform and grow the team as it continues its expansion plans and looks to acquire more customers.
Source: LiveMint

Company Name: Cash Suvidha
Amount raised: $1 million
Type: Pre-Series A
Sector: Fintech/Lending
Date announced: 27th March 2018
Investors: Initia Holdings Ltd & others
What they will use the funding for: The company plans to use the newly secured funds to increase customer base and to further strengthen its technological infrastructure.
Source: Financial Express

Company Name: MoveInSync
Amount raised: $8 million
Type: Series B
Sector: Transport
Date announced: 3rd April 2018
Investors: Nexus VP
What they will use the funding for: The company will use the funds to further develop its transport offerings, accelerate customer acquisition and expand to international markets, the statement added.
Source: VCCircle

Company Name: Namaste Credit
Amount raised: $3.8 million
Type: Series A
Sector: Fintech/Lending
Date announced: 3rd April 2018
Investors: Nexus Venture Partners
What they will use the funding for: Namaste Credit plans to increase its channel partner programme across India, and also grow the number its technology licensing partnerships with different leading lenders across the globe.
Source: Yourstory

Company Name: Fundamentum
Amount raised: $20 million
Type: Series B
Sector: Enterprise Technology
Date announced: 29th March 2018
Investors: La Caisse de depot et placement du Quebec (CDPQ)
What they will use the funding for: Fundamentum will focus on investments in consumer and enterprise technology businesses across retail, logistics, travel and outsourcing.
Source: Business Standard

Company Name: IndustryBuying
Amount raised: $2 million
Type: Venture debt
Sector: B2B marketplace
Date announced: 3rd April 2018
Investors: Blacksoil Capital
What they will use the funding for: The company will use the fresh funds to scale up and meet the working capital requirements on account of increasing orders.
Source: Times of India

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