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Ontario Teachers venture arm invests $80 million in Xpressbees

Economic Times

Economic Times · 1y ago

Ontario Teachers venture arm invests $80 million in Xpressbees

Ontario Teachers' Pension Plan's venture arm, Teachers’ Venture Growth (TVG), has invested $80 million in Pune-based e-commerce logistics company Xpressbees. The funding consists of both primary and secondary share acquisition, including an Esop buyback. Xpressbees plans to use the capital to scale its operations and expand its service offerings. The company recently acquired Trackon in an all-cash transaction and aims to address the growing needs of businesses and consumers in the logistics sector. Xpressbees competes with other major players like Delhivery and Ecom Express.

Related News

Perfios becomes India's 2nd unicorn in 2024 after $80-mn fundraise

Inshorts · 1y ago

Perfios becomes India's 2nd unicorn in 2024 after $80-mn fundraise

Fintech SaaS startup Perfios on Wednesday announced raising $80 million in funding from Teachers' Venture Growth, the late-stage venture and growth investment arm of the Ontario Teachers' Pension Plan. The funding takes Perfios' valuation above $1 billion, making it India's second unicorn in 2024. Perfios raised $229 million from Kedaara Capital in September 2023.

Perfios Snags $80 mn from Ontario Teachers’ Pension arm

VCCircle

VCCircle · 1y ago

Perfios Snags $80 mn from Ontario Teachers’ Pension arm

Perfios Software Solutions, a fintech SaaS company, has announced an $80 million investment from Ontario Teachers’ Pension Plan's venture arm, Teachers' Venture Growth (TVG). The funds will be used to support Perfios' international expansion and explore inorganic growth opportunities. The company currently operates in Southeast Asia, the Middle East, and Africa. Perfios plans to strengthen its digital transformation journey, enhance its tech stack, and fuel the digital transformation of financial services companies in India and beyond. TVG's India director, Darius Vakil, will join Perfios' board as the nominee for Ontario Teachers' Pension Plan.

Ontario Teachers mints new unicorn in Indian fintech Perfios

TechCrunch · 1y ago

Ontario Teachers mints new unicorn in Indian fintech Perfios

Ontario Teachers' Pension Plan's late-stage venture and growth investment arm, Teachers' Venture Growth, is investing $80 million in Perfios, an Indian fintech firm. Perfios provides real-time credit underwriting solutions to banks and other financial institutions. With this investment, Perfios is now valued at over $1 billion. The funds will be used for international expansion and exploring acquisition opportunities. Perfios aims to go public next year. The company helps banks assess the creditworthiness of potential borrowers, reducing the risk of defaults and improving portfolio quality. Ontario Teachers' Pension Plan has invested over $3 billion in India.

Decoding XpressBees’ $80 Mn Series G round, ESOPs buyback and more

Entrackr

Entrackr · 1y ago

Decoding XpressBees’ $80 Mn Series G round, ESOPs buyback and more

E-commerce logistics company XpressBees raised $80 million in its Series G round from Ontario Teachers' Pension Plan in November 2023. The primary round raised $70 million, with the remaining amount used for buying back ESOPs or shares of existing shareholders. The funding will be used for the growth and expansion of the business. XpressBees is valued at around $1.5 billion post-allotment. The company has raised over $390 million in total funding and achieved strong financial performance in the last fiscal year.

Ontario Teachers' fund weighs $100 million investment in ecommerce logistics startup Xpressbees

Economic Times

Economic Times · 2y ago

Ontario Teachers' fund weighs $100 million investment in ecommerce logistics startup Xpressbees

Ontario Teachers' Pension Plan, a Canadian fund, considers a potential $100 million investment in Indian e-commerce logistics startup Xpressbees. This investment would aid Xpressbees in expanding its operations and further developing its logistics and supply chain solutions. The potential funding highlights the growing interest of international investors in India's dynamic e-commerce and logistics sector. The Canadian pension investor may buy a stake in the firm at about a $1.4 billion valuation.

Canadian fund Teachers’ Venture Growth bets on Mintifi as early backers exit

VCCircle

VCCircle · 8m ago

Canadian fund Teachers’ Venture Growth bets on Mintifi as early backers exit

Teachers’ Venture Growth, an investment arm of Ontario Teachers’ Pension Plan, co-led a $180 million Series E funding round in Indian supply-chain financing platform Mintifi. The round was also led by Prosus, with participation from existing investor PremjiInvest. Mintifi plans to use the funds to expand its offerings, including dealer management systems and loans against property. The funding round provided an exit for early backers and allowed employees to liquidate their stock options. Mintifi, founded in 2017, provides end-to-end supply chain solutions to brands in India, working with over 3,000 companies.

Funding crunch continues, investments down 40% in November to $409 million

Economic Times

Economic Times · 1y ago

Funding crunch continues, investments down 40% in November to $409 million

In November, Indian startups faced a funding crunch as they raised only $409 million across 63 rounds, a 40% decrease compared to the previous year. Late-stage startups received the majority of funding at $206 million, while seed-stage and early-stage funding stood at $48 million and $154.5 million respectively. Notable investments include Teachers’ Venture Growth investing $80 million in Xpressbees, InCred Financial raising $60 million, Zepto securing $31.25 million, Scapia receiving $23 million, EMotorad raising Rs 164 crore, and Bakingo getting $16 million in growth capital.

Canadian pension fund OTPP elevates India exec for venture growth bets

VCCircle

VCCircle · 9m ago

Canadian pension fund OTPP elevates India exec for venture growth bets

Canadian pension fund Ontario Teachers' Pension Plan (OTPP) has promoted an executive in India to a senior position in its venture growth platform. This platform focuses on making late-stage venture and growth equity investments in technology companies. OTPP is among several Canadian pension funds that have shown interest in investing in India.

Mintifi secures $180 million from Prosus, others in a mix of primary, secondary capital

Economic Times

Economic Times · 8m ago

Mintifi secures $180 million from Prosus, others in a mix of primary, secondary capital

Mumbai-based lending platform Mintifi has raised $180 million in a fresh equity funding round. PayU parent Prosus and Ontario Teachers' Pension Plan (OTPP) each invested $80 million, while Premji Invest invested $20 million. With this round, Mintifi will be valued at around $825 million. Mintifi provides invoice-backed credit to brands through its non-banking finance company (NBFC) model, serving over 300 brands and offering credit to around 40,000 small businesses. The company has been profitable for the last few years and aims to achieve a net profit of Rs 160 crore in the current fiscal year.

Perfios turns Unicorn with $80 million from Canadian pension

The Arc Web

The Arc Web · 1y ago

Perfios turns Unicorn with $80 million from Canadian pension

Indian software company Perfios has secured $80m in funding from Ontario Teachers' Pension Plan's venture growth arm. The deal values the 16-year-old firm at over $1bn, after it raised $240m from Kedaara Capital in 2022. Perfios plans to use the funds to expand into US and European markets, in addition to its existing presence in Southeast Asia and the Middle East. The company, which provides data analysis solutions for banks and financial institutions, reported revenues of INR4.07bn ($54m) and a net profit of INR80m in FY2022. They serve over 1,000 clients, processing 1.7 billion transactions with $36bn in assets under management.

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