Financial services distributor MyMoneyMantra Wednesday said Dutch investment company IFSD BV and Vaalon Capital have picked up a minority stake in the company for Rs 104 crore.
MMM serves over four 4 million customers from over 50 cities and has partnered with more than 90 financial institutions, a statement said.
The company was responsible for originating Rs 7,000 crore (about USD 1 billion) of credit-related products in FY2019, it added.
"This investment is a fantastic endorsement from an international partner and comes at an opportune time, as we are eager to capture an even larger share of the rapidly expanding Indian consumer market," MMM founder and Managing Director Raj Khosla said.
*
*
*
* Akiva Superfoods raises USD 2mn led by Alkemi Venture partner *
*
*
*
* Agrahyah Technologies raises $1 million in pre-series A funding *
Disclaimer: No Business Standard Journalist was involved in creation of this content