RIVIGO SERVICES IN TALKS TO RAISE UP TO $400 MN

BENGALURU: Rivigo Services Pvt. Ltd, India’s most valuable logistics start-up, is in talks to raise a large round of funds from new and existing investors as it seeks to expand its trucking fleet and add new clients, three people familiar with the matter said. Rivigo could raise $350-400 million, the people cited above said, on condition of anonymity. The talks are at an early stage and the amount of capital it eventually raises could differ when the deal is done, they said. Rivigo is seeking a sharp jump in valuation from the $950 million it was valued at in the previous round, the people said. Rivigo has so far raised nearly

$170 million in equity and debt from SAIF Partners, Warburg Pincus, Trifecta Capital and others, according to Tracxn data. It received $50 million last December in a Series D round from SAIF and Warburg. Rivigo didn’t respond to an email seeking comment. Started in 2014 by former Mckinsey consultants Deepak Garg and Gazal Kalra, the Gurugram-based start-up deploys a so-called driver relay model to deliver products for companies in e-commerce, retail, auto, fast moving consumer goods and other sectors.

Paytm partners with Visa to allow credit card payments

NEW DELHI: Payments service provider Paytm said it has partnered with payments tech firm Visa to enable credit card payments on its platform aiming to expand payment offerings for its customers. VISA credit card users can now pay their monthly bills using their preferred payment method, including Unified Payments Interface, net banking and debit cards through the Paytm app. The firm aims to process more than 2 million credit card bill payments for over 38 banks this financial year. “We have also integrated Paytm BHIM UPI to enable users to pay for their bills, along with other payment methods like debit card, net-banking. These new payment modes will offer great convenience to the Visa credit card users as they can now pay their monthly bills on the Paytm app,” said Kiran Vasireddy, chief operating officer, Paytm.

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