Mufin Green Finance has raised around $16.8 million in a Series B round of equity funding, while Deliver.sg has acquired Indian mobility lifestyle platform BusyBee, and Juspay has acquired payment solutions provider LotusPay.
Mufin Green Finance raises close to $17m
Mufin Green Finance, a non-banking financial company (NBFC), has raised around $16.8 million in a Series B round of equity funding.
The investment was raised with substantial support from prominent family offices, according to a release. The firm had raised around $63.8 million in debt funding last year from financial institutions, including State Bank of India, IREDA, AU Small Finance Bank, ICICI Bank, and Kotak Mahindra Investments.
The company plans to use the new capital to to accelerate its growth trajectory and scale up business operations in the down west region of the country.
“The funding affirms the strength of our business model and positions us effectively to meet the ever-increasing demands of our expanding customer base. Also, it will equip us to explore more product avenues in the EV ecosystem, as we are looking to further invest in more electric vehicle categories from buses and LCVs to commercial four-wheelers,” said Kapil Garg, Managing Director of Mufin Green Finance.
Singapore’s Deliver.sg acquires BusyBee
Singapore-based long-distance food delivery platform Deliver.sg has acquired Indian mobility lifestyle platform BusyBee.
The deal, valued at $371,935, will leverage Deliver.sg’s advanced technology and expertise, enhancing BusyBee’s operational efficiency and profitability as it plans to expand its reach to 1,000 locations by 2025, per a release.
Deliver.sg is also investing in Indian home-cooked meal startup HighRices through a share swap and equity funding model and in-home services management platform HomeRadius.
“As we integrate BusyBee’s extensive network with the growth of HighRices and HomeRadius, our goal transcends expanding our geographical footprint. We’re fostering innovation, entrepreneurship, and community building,” said Krishnamani Kannan, CEO of Deliver.sg.
Founded in 2020, Deliver.sg is a Singapore-based long-distance food delivery platform, offering island-wide food delivery services.
Juspay acquires Y Combinator-backed LotusPay
Juspay, an India-based payment infrastructure company, has acquired Y Combinator-backed recurring payment solutions provider LotusPay.
The all-cash acquisition aims to strengthen Juspay’s offerings to the BFSI segment and merchants, with a particular focus on enhancing its recurring payment capabilities, according to a release.
“LotusPay’s NACH solutions are the best in the market, and they add strength to our existing recurring payment offerings. We can now serve our enterprise clients (banks, merchants, NBFCs) with a complete suite of recurring payment options with a single integration,” said Sheetal Lalwani, COO of Juspay.
Juspay will integrate LotusPay NACH into Juspay’s HyperCheckout and Express Checkout products and continue offering it as a standalone service.
LotusPay serves India’s leading banks and NBFCs including HDB Financial Services, InCred Finance, and IIFL Samasta Finance and technology companies including StashFin, Pine Labs, and Kissht.