Mergers, Acquisitions and Funding Round-up this week: September 9 to September 14

A total of 24 Indian start-ups dealt for the funding during this week wherein, the total amount raised was $228.79 million. The deals include 6 growth-stage deals and 13 early-stage deals. However, 5 start-ups kept their transaction details undisclosed. Here are the major updates relating to start-up funding.

Onsurity gets $21 million from multiple investors

Onsurity, small and medium enterprises (SMEs)-focussed insurtech startup has raised $21 Mn by a round led by private equity fund Creaegis. It has closed its Series B round at $45 Mn as of October last year, the startup has raised $24 Mn from International Finance Corporation, Nexus Venture Partners, and Quona Capital as part of the funding round.

InMobi raises $100 million from MARS Growth Capital

The IPO-bound ad-tech firm InMobi has secured $100 million via a debt financing agreement from MARS Growth Capital, which is a joint venture between MUFG and Liquidity Group. The fund is likely to be used for the expansion of its artificial intelligence (AI) capabilities.

Flexiloans raises Rs. 290 crore by multiple investors

An MSME-focused digital lending NBFC, FlexiLoans.com has raised Rs. 290 crore by multiple investors including global and domestic private equity investors such as Accion, Nuveen, Fundamentum, and existing investor Maj Investors. it was a Series C round and the amount has been raised by issuing equity shares.

AppsForBharat raises $18 million by Fundamentum

AppsForBharat, which is the the parent company of devotion platform, Sri Mandir has raised $18 million in a funding round led by Fundamentum. However, the round also saw participation from Susquehanna Asia VC and existing investors Elevation Capital, Peak XV Partners, and Mirae Asset VC.

Moneyview raises Rs. 38.64 crore from existing investors 

The lending platform Moneyview has raised a new round of Rs. 38.64 crore, which is approximately, $4.65 million from existing investors Accel India and Nexus Ventures. The company has also turned into a unicorn with this investment. The company has also passed a Special resolution to issue 60,23,382 equity shares at an issue price of Rs. 64.15 each.

Mergers and acquisitions

• Nazara Technologies has made two acquisitions which include a stake in Moonshine Technology, the parent company of PokerBaazi for an amount of Rs. 982 crore ($100 million) and $2.2 million for acquiring Stan, a blockchain-based e-sports fan engagement startup.
• GoKwik, an e-commerce enabler has acquired Return Prime, a returns management app.

Other updates

• The NPCI has increased the transaction limit of UPI to Rs. 5 lakh starting September 16, for certain payments.
• Swiggy is about to file draft IPO papers this week aiming to raise over Rs. 8,300 crore.
• WhatsApp has come up with the Meta verified feature for small businesses in the Indian market that allows start-ups to send personalised messages, greetings, sales and more.