(Source: BloombergQuint)

Deal Street: Xiaomi Founder’s Firm Backs Online Lending Platform LoanTap

Five Indian startups together raised $15 million, or around Rs 103 crore, in angel, seed or venture capital funding last week, in sectors ranging from lending to online catering.

Shunwei Capital, the venture capital firm co-founded by Xiaomi founder Lei Jun, made a fresh investment in an online lending startup. Over the last 12 months, Shunwei has invested in a host of startups including ShareChat, Mech Mocha, Pratilipi, Truebil, among others.

LoanTap Raises $6.25 Million In Fresh Funding

Commuters make their way outside Chhatrapati Shivaji Terminus in Mumbai, India. (Photographer: Kuni Takahashi/Bloomberg)
Commuters make their way outside Chhatrapati Shivaji Terminus in Mumbai, India. (Photographer: Kuni Takahashi/Bloomberg)

Online lending platform LoanTap raised $6.25 million (around Rs 42.8 crore) in a fresh round of funding led by Shunwei Capital.

Mumbai-based investment firm Tuscan Ventures, Ashish Goenka, managing director of Suashish Diamonds, and some other existing investors such as India Quotient and Kae Capital also participated in the round, the company said in a statement.

LoanTap had last raised raised $4 million in equity and debt funding last year. The latest round takes the total funds raised by the company so far to about $20 million in debt and equity.

Founded in May 2016, the startup caters to the low-delinquency salaried people who have worked anywhere between two to five years. It provides customers with options such as EMI free loans, salary overdraft, rental deposits and credit card takeover.

HungerBox Raises $4.5 Million From Neoplux, Sabre

HungerBox team. (Source: HungerBox)
HungerBox team. (Source: HungerBox)

HungerBox, an online platform that connects caterers with corporates, raised Rs 31 crore ($4.5 million) in a fresh funding round led by South Korea-based investment firm Neoplux and private equity firm Sabre Partners, a company statement said.

Existing investors such as Singapore-based Lionrock Capital and Infosys co-Founder Kris Gopalakrishnan also participated in this round, the statement added.

The company said the funds will be used to expand its operations in India and enter the southeast Asian market. “Many of our clients are MNCs (multinational companies) and we have been receiving many requests for us to support them in markets outside India,” said Sandipan Mitra, chief executive and co-founder of HungerBox.

The 400-member strong HungerBox currently operates in nine cities, including Bengaluru, Chennai, Hyderabad, Mumbai, Pune, Delhi-NCR, Jaipur and Kolkata.

Founded in 2016, the startup offers corporates a digital platform to order food. Based on the reimbursement benefits offered by their company, employees can access, and avail services offered by the platform through their mobile phones.

It charges caterers a commission on their total sales. About 550 caterers operate 2,200 services on the HungerBox platform.

The company said it is clocking more than six million orders a month across 160 digital cafeterias across the country. Its clients include Qualcomm, Microsoft, Accenture, CapGemini, Genpact and McKinsey.

Anchanto Raises $4 Million Led By MDI Ventures, Others

E-commerce fulfilment platform Anchanto raised Rs 27 crore ($4 million) in an investment round led by MD Ventures, the corporate venture capital arm of Indonesia-based telecommunications major Telkom, the company said in a release.

The company did not disclose the total fund it is looking to raise.

It will use the funds to expand its market outreach and strengthen its presence in Southeast Asia, the statement added.

Anchanto connects E-commerce sellers, brands, retailers and warehousing and fulfilment service providers.


GoBumpr, a Chennai-based automobile aftermarket platform, raised $600,000 Fresh round of funding led by the existing investors – The Chennai Angels, Keiretsu Forum and individual investors, the company said in a statement.

Delhi-based podcast and content-aggregator, Hubhopper raised an undisclosed amount of funding from Mumbai-based venture capital firm Unit-E ventures, Inc42 reported.