Thursday 4 January 2018

BCCL invests in online lending firm FinReq

Media conglomerate airman, Coleman and Company Ltd (BCCL) has non-heritable a stake in an exceedingly Mumbai-based on-line loaning firm FinReq, a corporation statement aforementioned.
The company declined to expose the quantity raised.

FinReq can use the funds for enlargement, promoting and tie-ups, Bhavik Mehta, founder and director of the loaning portal, told VCCircle.

He conjointly aforementioned that the corporate shortly plans to boost funds in another spherical.

“The complete Capital model may be a terribly innovative means of funding for growing corporations like ours associated by having BCCL as an capitalist, we have a tendency to get tremendous advantages.

With this association, we'll currently concentrate on enhancing the deal flow with higher complete recognition and market awareness in India,” aforementioned Bhavik.

Run by BBM Profin Advisors Pvt. Ltd, FinReq was based in2011 by Mehta and Bipin Mehta.

Bhavik may be a accountant World Health Organization has antecedently worked at skilled services firm Deloitte and tax and accounting consultative firm BDO, and Bipin may be a former banker with forty five years of expertise in finance and banking.

The loaning firm ran its operations offline since its origination in 2011 and solely went live on-line on four January 2018.

FinReq deals in end-to-end loan merchandise for businesses and retail customers. the corporate claims to own a novel formula, analytics and matchmaking feature that connects the correct borrowers with the correct lenders. It says up to Rs 300 large integer of loans is processed on its platform.

The company has tie-ups with quite fifty lenders within the country.

Borrowers will transfer their proposals and attachments, and find their loans processed with the assistance of certified consultants.

BCCL, that publishes the days of India and therefore the Economic Times newspapers and operates tv channels still as a number of internet sites, strikes ad-for-equity deals wherever it picks up a stake in corporations in place of advertisements.

BCCL makes its ad-for-equity investments principally through its unit complete Capital.

Another BCCL unit that creates investments is Times web Ltd, that acquires stakes in technical school companies in media and amusement.

A VCCircle analysis in Nov 2017 showed that BCCL, in conjunction with complete Capital and Times web, is one in all the foremost prolific non-public equity and venture capital-style investors in India.

In Gregorian calendar month 2017, BCCL endowed in on-line home ornamentation startup Livspace in an exceedingly deal valued at Rs 11.05 crore.

In the same month, it endowed in luxury building aggregation startup icanstay.com in an exceedingly deal price Rs 12 large integer ($1.8 million).

In Nov 2017, it endowed Rs. 1.65 large integer ($255,613) in Bengaluru-based food-tech startup Fresh Menu.

In August 2017, it endowed associate unrevealed quantity in sports content app Sports Flashes.

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