Though the deal size was not disclosed, reports suggest the monetary value is between USD 30-40 million (between Rs 185 crore-Rs 247 crore). The Indian startup, which was already working as a partner with Twitter, offers services like missed calls for user verification and alerts to its customers.
When launching a new venture, remember what the experts say: 'Three's company, not a crowd'
By Sunil Goyal, MD, Ladderup Corporate Advisory
Foreign private equity funds are likely to exit completely or partially the financial services space in the near-term as part of profit-booking, but will stay invested to cash in from the long-term growth story.