News Roundup: My Mobile Payments eyes up to $100M in fresh funding

30 March, 2016

Mumbai-based My Mobile Payments Ltd., which had launched its mobile payment platform Money On Mobile (MOM) three years ago, is planning to raise a series-B funding of between $75 million and $100 million (Rs 394 crore – Rs 525 crore) to use in growth and expansion of operations. The company had received its first external investment of $29.7 million early last year from Calpian Inc, a Texas-based public company that deals with electronic payments processing. (Business Standard)

Big investors look to log into Indian e-commerce: A new set of marquee investors are debuting in India’s burgeoning consumer internet market. Bulge bracket names such as Canadian Pension Plan Investment Board (CPPIB) and the venture capital arm of telecom giant SingTel have met with the larger start-ups, including e-commerce engines Flipkart and Myntra, as they explore investments in the local market. These investors and even Saudi Arabia’s sovereign wealth funds could write bigger cheques of $50-150 million in fresh round of funding to some the leading e-commerce poster boys before they eye a public listing in the next two years. These new investors appear on the scene even as the largest domestic e-tailer Flipkart wants to raise about $150 million afresh in the coming months. (The Times Of India)

HDFC plans to raise at least Rs 2.5 billion via bonds: Housing Development Finance Corp (HDFC), is planning to raise at least Rs 250 crore ($43.26 million) through 1-year 2-day bonds at 8.50%, two sources with direct knowledge said. Axis Bank is the sole arranger to the bond sale. (The Economic Times)

NHB seeks bids to raise up to Rs 5 bn via bonds: National Housing Bank is planning to raise Rs 500 crore ($86.53 million) through 36-month bonds, a term sheet showed. The base size of the issue is Rs 250 crore ($43.26 million). ()

Courtesy: VCCEdge


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News Roundup: My Mobile Payments eyes up to $100M in fresh funding

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