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Paisabazaar, a financial products comparison site, has raised ₹200 crore from its parent company EtechAces. The company will use the money to scale up the lending business by tripling the loan amount to ₹1,000 crore a month this year. It will also use a part of the money in building the brand, data analytics, improve technology and machine learning. EtechAces also runs insurance products aggregator Policybazaar.
Eight Roads gets ₹100-cr in Series B
EarlySalary, which offers short-term loans to young professionals, has raised about ₹100 crore in a Series B round led by Eight Roads Ventures India. Existing investors IDG Ventures Induia, Dewan Housing Finance Corp Ltd and seed investor Ashok Agarwal also participated in the round. It will use the money to strengthen technology and to offer more products. The company had raised about ₹27 crore in May 2017 from IDG and Dewan Housing Finance.
NIIT acquires Eagle International
NIIT Ltd, a skills and talent development company, has bought Eagle International Institute, Inc., of the US for $8.1 million. Headquartered in Rochester, Eagle is a global provider of training solutions for companies adopting cloud-based applications in the pharmaceutical and life sciences industry.
Ebix to buy Transcorp’s MTSS biz
US-based Ebix, Inc. has signed an agreement to buy the Money Transfer Service Scheme (MTSS) business of BSE-listed Transcorp International Ltd, for about ₹50 crore ($7.4 million). Transcorp International Inward Remittance Exchange encompasses 7,500 distribution outlets, 40 branches, processing 1.7 million transactions a year. Our Bureau
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