SAIF Partners

The firm said it will continue to focus on seed and series A startups with the new fund – its eighth so far.

It plans to build a robust network of community leaders on its platform and expand its supply chain tailored to smaller cities.

The fund will be managed by Elevation Capital’s managing partner Ravi Adusumalli and its five managing directors.

The funding round reportedly brought the India-based startup’s post-money valuation to about US$150 million.

The investment will allow the India-based startup to further develop its technology and network coverage.

Founded in February, the company connects customers with a network of travel influencers through WhatsApp and Instagram.

The company operates in Delhi, Gurugram, and Noida, and expects to open at least 5 more locations by the end of the year.

Ziploan claims it has disbursed a total of US$20.9 million through its microlending platform.

And here’s where it sees the next big opportunities.

India is on track for a return to record funding this year, after a steep fall in 2016. Here are 10 investors in India most likely to fund your startup.