Omidyar Network Participates in Financing Rounds for IntelleGrow and NowFloats (Asia)

Source: VCCircle  |  Author(s): Arti Singh, Joseph Rai

Philanthropic investment firm Omidyar Network, asset manager Developing World Markets (DWM) and European lender Triodos Bank’s investment arm Triodos Investment Management have invested INR510 million (approximately US$7.6 million) in India-based venture debt lender Jain Sons Finlease, which operates under the IntelleGrow brand. Omidyar invested INR150 million (approximately US$2.2 million), while Triodos and DWM each contributed INR180 million (approximately US$2.7 million). Separately, Omidyar Network, technology investor Iron Pillar, asset management firm IIFL Wealth and early-stage venture capital firm Blume Ventures invested a reported US$9 million in a Series B financing round for India-based NowFloats Technologies. NowFloats operates a platform for local businesses to target customers based on their location.