Last week, Grover had posted on social media platform X (formerly Twitter) about the equity allocation and secondary components undertaken during the company’s Series E funding round which was led by Tiger Global and saw participation from Dragoneer Investor group among others.
The shares were disposed of at an average price of Rs 877 apiece, taking the transaction value to Rs 1,371 crore.
The present investment seeks to strengthen the financial health of Policybazaar to meet its general operating expenses and enhance brand awareness, office presence and strategic initiatives.
While there has been a funding winter in fintechs and tech startups over the past year, fintech funding has witnessed a steep downfall in calendar year 2023, matching the numbers of pandemic year 2020 in terms of funds raised and funding rounds. Here’s what data suggests:
Leading IT service provider, Mindfire Solutions, specializing in offshore-based software development and QA services affirmed its ambitious target of doubling its growth in the next five years.
“As prices rise, investors on the sidelines think they need to get in,” said Campbell Harvey, a finance professor at Duke University. “Many will violate the number-one rule of investment: Understand what you are investing in. Many will also violate the number-two rule by putting their money in an undiversified bet on a single token.”
Bankrupt crypto lending platform Genesis has sued cryptocurrency exchange Gemini to recover $689 million.
The diversification strategy may include products such as education loans, loans against property, SME/micro-SME loans, and other forms of secured lending.
“Silvergate continues to focus on implementing the Bank Liquidation,” it said in a statement on Wednesday.
Following Zhao’s news, pressure on major cryptocurrencies increased, resulting in the overall crypto market cap falling below $1.4 trillion on Wednesday. However, on Thursday’s trade, the crypto market cap bounced back and surged nearly 3% to $ 1.42 trillion.
