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FlexiLoans acquires supply chain financing firm CreditPeriod

Press Trust of India  |  Mumbai 

lending platform FlexiLoans.Com today said it has acquired Mumbai-based supply chain financing platform, CreditPeriod.Com for an undisclosed sum to strengthen its supply chain financing vertical.

CreditPeriod.Com enables SME buyers to procure goods and services on credit while ensuring the sellers get their money upfront.


"The CreditPeriod.Com strengthens our position to serve the deeply underserved supply chain market for the SME eco-system," Deepak Jain, co-founder at FlexiLoans.Com said.

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Ummeed Housing raises $5.6m led by Lok

Delhi-based affordable housing company, Ummeed Housing today announced it has raised Series B funding of USD 5.6 million from existing investors Lok Capital Growth Fund (Lok's third fund) and Duane Park.

The fun raising comes on the heels of the first institutional funding of USD 3.5 million raised from Lok and Duane Park in October, 2016, the company said in a statement.

The fresh round of investment will fuel the company's expansion plans to new locations in North and Central India, lead to investments in SMAC (Social, Mobile, Analytics and Cloud) technologies and grow assets under management by six times in the next year, it said.

Founded in January 2016 Ummeed now has three branches in Delhi, Chandigarh and Jaipur and has close to Rs 20 crores assets under management (AUM), it said.

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Uber revamps mobile application for global & Indian markets

Ride hailing aggregator Uber today rolled out a newly designed and re-engineered mobile, across android and iOS platforms.

The company said this would facilitate faster and more personalised experience.

"The newly designed rider app is unique as we rebuilt it from ground up to deliver a much faster and improved interface for ride," Apurva Dalal, Head of Engineering, Uber India, said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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