Craftsvilla has partnered with Lendingkart, an online lending platform for entrepreneurs and small businesses, to offer collateral-free business loans to SMEs and sellers. The companies claim that the credit evaluation process from Lendingkart will take just 3 days, at fair interest rates. Lendingkart entered into a similar partnership with Paytm in November last year to offer loans to its sellers. In September last year, Flipkart Marketplace tied up with Capital Float and Lendingkart to make loans available for its sellers on its platform.
Craftsvilla has acquired PlaceofOrigin, that delivers India`s specialty foods to customers. This was an all-equity deal at an undisclosed valuation. Bangalore-based PlaceofOrigin curates and onboards food producers of ethnic Indian foods and local specialities across the categories of sweets, snacks, staples & healthfoods. They leverage technology & the inherent brand power to give iconic local producers access to the national marketplace. PlaceofOrigin was founded by Ashish Nichani and Sudarsan Metla in 2014. Earlier this year, craftsvilla had acquired Mumbai-based virtual logistics startup Sendd.
Silicon Valley based Sequoia Capital has raised a $920 million fund to further invest in Indian companies.Sequoia’s Fund V closed around more than a month ago. This is the largest fund raise by any VC till date. In 2015 April, Sequoia had raised $210 million to its existing $530 million-India fund. Altogether, the total assets in India are more than $3 billion. The companies included in Sequoia’s portfolio are Oyo Rooms, Zomato, Freecharge, JustDial, Grofers, Craftsvilla etc.