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Kul Bhushan · · 1 min readSoftBank’s $150m investment gives Indian fintech startup unicorn status
“OfBusiness has raised fresh funding of US$160 million led by SoftBank Vision Fund II, valuing the company at US$1.5 billion, its co-founder and chief executive Asish Mohapatra told the Economic Times.”
Details
- SoftBank poured US$150 million as part of the funding round, with Falcon Edge Capital and Matrix Partners rounding it out.
- With a valuation of US$1.5 billion, OfBusiness has joined the unicorn club, making it the 18th startup in India this year to do so.
Dive deeper
- OfBusiness said it would use the new capital for acquisitions and investments in its core focus areas, including metals, plastics, industrial chemicals, food grains, and building materials, among others.
- The six-year-old fintech firm raised US$110 million in April this year. The round, led by Falcon Edge, valued the firm at US$800 million.
Editing by Miguel Cordon and Jaclyn Tiu
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