Pine Labs Pvt Ltd, a payment solutions provider aiming for a US listing, announced on Tuesday that it has raised an additional $20 million (approximately Rs 150 crore) in new investment from the State Bank of India (SBI). Pine Labs stated that the new funds will be used to scale Plural, its newly launched brand of online payment products, with the goal of becoming merchants’ preferred omnichannel partner. We are thrilled to have the largest bank of India, the State Bank of India, place their trust in us and welcome…

The COVID-19 pandemic caused chaos on the supply chain ecosystem, wreaking havoc on micro, small, and medium-sized enterprises (MSMEs) and leaving them struggling to survive and build capital. Moglix, a Noida-based business-to-business (B2B) industrial goods ecommerce marketplace, saw the need for a financing platform at this time and launched Credlix. It is a digital supply chain financing platform that provides immediate collateral-free working capital solutions to the entire supply chain. “Unless MSMEs got paid, how would they produce goods to supply? Dwelling on this, we reached the point of realisation…

UpGrad, an edtech unicorn, is weighing non-linear growth options through acquisitions and plans to increase its focus on outcome and profitability this year. Mayank Kumar, co-founder and Managing Director, anticipates massive growth in the edtech sector, and his seven-year-old start-up will nearly quadruple its registered learners base to 7.5 million in the next two years. “In 2022, there will be a strong emphasis on the outcomes and profitability. We foresee accelerated university partnership expansions, tie-ups with global universities to offer diversified online programmes in regions including India, the Middle East,…

Square Yards, a proptech platform, has begun work on its initial public offering (IPO), through which the company may raise 1,000 crore or more, joining several other technology companies planning to list, according to two people aware of the development. Square Yards is a real estate and mortgage integrated platform that is expanding its business through international operations in the UAE, the rest of West Asia, Australia, and Canada. Its platform encompasses the entire real-estate journey, from search and discovery to transactions, home loans, interiors, rentals, property management, and after-sales…