Last week in startup funding: Saas continues to be hot, with fintech and consumer companies getting more VC money

With the year closing, many startups are preparing for a big leap in 2021, hoping to make up for lost growth this year. Big bang Series B rounds were reported in the days between Dec 11 and 17,2020

December 19, 2020 / 11:01 AM IST

The action in the software as a service space has continued through the last week with sales automation platform Leadsquared getting $32 million in its series B round of funding from Gaja Capital, Stakeboat Capital and Silicon Valley based entrepreneur Jyoti Bansal.

The Saas space has seen hectic activity over the last few years. Business automation players have been reporting high interest from venture capitalists. Further given most of these entities have steady revenue flows, they can break even faster.

Another big bang series B round was reported by Wakefit. The mattress startup raised $25 million from Verlinvest and Sequoia Capital. According to a Firstpost report the company has achieved a valuation of Rs 1900 crore through this round. It was valued at Rs 210 crore back in 2018.

At a time when the country is debating the new farm laws, agritech startup Arya Collateral has raised $21 million from Quona Capital, LGT Lightstone Aspada and Omnivore. The startup offers financing to farmers and also offers its post harvest services through A2Z Godaam.

In the fintech space M1Exchange, which is a regulated TREDS platform has raised its series A round of $4.5 million from Beenext and Mayfield. The platform offers supply chain financing to players which are registered with it by looping in large lenders and public sector banks to process the loans.

Pratik Bhakta
first published: Dec 19, 2020 11:01 am

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