5 rising startups in India – August 11, 2016

Photo credit: Pixabay.

Two fintech companies have bagged millions in funding in India today, while a coworking space and a software-as-a-service (SaaS) company also make the list. A service booking acquisition rounds out this group of startups.

Faircent

Photo credit: Ken Teegardin.

Peer-to-peer (P2P) lending platform Faircent, which deals with retail and business loans, has raised US$1.5 million in funding from Brand Capital, the ad-for-equity investment arm of media conglomerate Bennett Coleman and Co (also called The Times Group).

Launched by Rajat Gandhi, Vinay Mathews, and Nitin Gupta in 2014, Faircent has ranked in the top 30 startups at Start Up India 2016 and was named as one of 500 impacted startups in Nasscom 10,000 Startups’ first four phases. It is a part of Microsoft’s BizSpark program and was selected to exhibit at the Web Summit in Dublin in 2013.

The Gurgaon-based startup claims to have over 6,000 registered lenders and 26,000 borrowers on its portal.

91springboard

Photo credit: Olu Eletu.

Coworking space 91springboard has raised an undisclosed amount of funding, which will go toward improving tech and expansion.

Founded by Anand Vemuri, Varun Chawla, Pranay Gupta, Anuj Pulstya, Deepak Sharma, and Dr. Susan Lim, 91springboard offers members access to a coworking space with round the clock office support and service providers. Deepak and Susan participated in the recent round of funding, along with Sambhav Mehrotra, vice president of finance at 91springboard. Others in the group of investors include Khattar Holdings founder Satpal Khattar, Sony Entertainment Television president Rohit Gupta, and GE managing director of ASEAN business development Rahul Gupta.

Based in Delhi, 91springboard began operations in 2013 and has expanded to seven cities – Delhi, Gurgaon, Noida, Hyderabad, Bangalore, Navi Mumbai, and Mumbai.

UrbanClap

Photo credit: UrbanClap has acquired Delhi-based GoodService in an all-cash deal. UrbanClap is currently working on merging the companies’ operations.

Zenoti

Fusion Microfinance

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