NowFloats closes $10 mn funding from Iron Pillar, others

NowFloats, a platform that helps businesses get online, today said it has closed a USD 10 million funding round from Iron Pillar, IIFL and others.
"NowFloats has closed series B funding of USD 10 million via Iron Pillar and IIFL (Seed Ventures Fund I and Cash Opportunities Fund), along with Blume Ventures and Omidyar Network, who had invested in series A as well," it said in a statement.
The company will allocate funds towards various aspects of its business -- technology, distribution and operations, merger and acquisitions, it added.
It also aims to target tier I, II and III regions as part of its expansion plan.

"Our product is geared towards making it as simple as possible for business owners to interact and add updates to their online identity," NowFloats co-founder Neeraj Sabharwal said.
NowFloats is investing in creation of a product for global use by SMEs and made out of India, he added.
NowFloats' online discovery platform has an instant presence across over 2.3 lakh customers, among which up to 80 per cent are paid customers across all channels.