Salesforce invests in Razorpay💸

FB appoints ex-IAS officer as HPP, CARS24 raises $450 million and more.

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Salesforce backs Indian payments startup Razorpay💪🏻

Six-year-old Bangalore-based fintech Razorpay, which was valued at $3 billion in a financing round in April this year, has courted one more high-profile investor: Salesforce Ventures.

Salesforce Ventures, the venture capital arm of the American customer relationship management firm, has invested an undisclosed amount in Razorpay to expand its business-banking platform.

The strategic investment will help Razorpay use Salesforce’s network to expand to Southeast Asia. The fund infusion will help accelerate adoption and financial growth of underserved small businesses in the next 12 months, and in expanding and integrating the payments and banking platforms, Harshil Mathur, chief executive and co-founder, Razorpay, said.

FB India appoints ex-IAS officer as Head of Public Policy👨🏻‍💼

Facebook India on Monday said it has appointed ex-IAS officer and former Uber executive Rajiv Aggarwal as the Director of Public Policy. He succeeds Ankhi Das, who quit in October last year.

Aggarwal, an IAS officer with 26 years of experience, was previously the head of public policy for India and South Asia at Uber. At Facebook, he will work on user safety, data protection and privacy, inclusion and internet governance.

Aggarwal’s appointment comes at the time when, following a few hiccups, all major social networking platforms in India are in compliance with the new IT rules.


Hot Shorts⚡

  • FloBiz, a startup that helps digitize small and medium businesses, has raised $31 million in a Series B round led by Sequoia Capital India and Think Investments.

  • Design Café, a home interior solutions startup, has raised $25 million in an extended Series B round.

  • ePayLater, a fintech startup, has raised $10 million from a group of investors including Zurich-based ResponsAbility Investments AG and Blue Ashva Capital.

CARS24 raises $450 million at a $1.84 billion valuation🚘

CARS24 has raised $450 million (Rs 3,321.3 crore) in Series F funding from DST Global, Falcon Edge, SoftBank Vision Fund 2 and others, increasing its valuation to $1.84 billion.

CARS24 has clocked more than 13 million monthly traffic and over 4 lakh transactions to date. It has also bagged a non-banking financial company (NBFC) license, launched a consumer lending business with CARS24 Financial Services, and entered the two-wheeler segment with BIKES24.

Tweet of the day🐥

✅ Sony to set up venture capital arm in India, partner with celebrities.

✅ Venture capitalists are scouting for drone startups in India for investments.

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