The Y Combinator-backed Razorpay, valued at $7.5 billion, had to necessarily domicile itself in the US, when it raised funds from the Silicon Valley famed incubator. Razorpay offers payment services to merchants.
The new platform, called Clarus, has hit a first close of around Rs500 crore for its maiden fund in a month from its launch, said senior executives of the PE firm. It is a category-3, open-ended fund.
Cainiao Network Technology's initial public offering (IPO) plan comes after Alibaba flagged in late March it would split its business into six units and that most of them would explore capital raisings or market debuts to help fund future growth.
Sea Ltd. said it is giving most employees a 5% pay increase after turning profitable, a milestone for the Singapore e-commerce and gaming company that slashed costs drastically during the technology industry’s downturn.
EU countries and EU lawmakers are working on the details of the Data Act, proposed by the European Commission last year before it can be adopted as legislation.
Happy Monday. We are kicking off the week with a packed edition of ETtech Morning Dispatch. You can’t have missed all those social media posts talking about the government-backed Open Network for Digital Commerce (ONDC) over the last few days. ONDC is looking to challenge food-delivery biggies Swiggy and Zomato through a price war. We have details on what’s going on.
Around 50% of the capital in the new fund has come from Indian banks and mutual funds, said Pranav Pai, founding partner at 3one4 Capital.