MPOWER raises $110 million MPOWER Financing, which provides educational fixed rate loans for (Indian) international and DACA students studying in the US and Canada, has raised $110 million led by Gray Matters Capital and Community Investment Management. It will use the funding for financing students going to US universities, its product and technology and expand its loan portfolio. It has partnerships with 200 US and Canadian universities, and will expand this lineup as well. The company says that it provides these loans without collateral, co-signer and co-applicant. *** Quikr raises Rs 55 crore in debt investment InnoVen Capital has made a debt investment of Rs 55 crore in Quikr. Quikr claims to have had 95% revenue growth in FY18, and will use the venture debt to “grow its transaction businesses.” It also claims to have 30 million unique monthly users across its verticals. Quikr has raised $350 million in equity so far from Tiger Global, Kinnevik, Warburg Pincus, Matrix Partners, Norwest Venture Partners, eBay, Nokia Growth Partners and others. In December last year, HDFC sold its real estate brokerage platform HDFC Realty Limited, and HDFC Developers Limited (which runs the HDFC RED platform) to Quikr, for a reported Rs 350 crore, for a minority equity stake. *** Cashfree launches cardless EMI Cashfree has launched a cardless EMI facility for its users, in partnership with ZestMoney. This service can be used to pay for online shopping including phones, electronics, travel etc. Cashfree claims that this will reach 40 million online shoppers…
- RBI increases UPI and recurring transaction limits for certain categories December 8, 2023
- The Quantum Hub discusses concerns on age verification and children’s data processing under India’s data protection law December 8, 2023
- India’s central bank to set up cloud facility for financial sector December 8, 2023
- Navigating the Complexities of Open Source AI: Insights from Carnegie India Summit December 8, 2023
- Supreme Court Dismisses Plea by Foundation for Media Professionals on Internet Shutdowns December 8, 2023
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