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Though Elevenia is considered successful in terms of transaction volume –as the company is claimed to be in the top three e-commerce companies list in the country– the success does not translate to revenue for the parent company.

Ezetap will use the financing to continue innovating and expanding its payments platform that lets any business accept any form of payment, as well as to grow its sales and operations across India and abroad.

SparkLab Ventures will focus on Series A and Series B rounds and will target primarily Korean startups. Its secondary focus will be startups in Southeast Asia.

Known as a relatively media shy company, Sale Stock has never made any public announcement about their fundraising until today

Fundraising is a slog.

“SMEs, by nature, are more attuned to the movement of the market than bigger corporations. Because of this, they are able to adapt and learn about newer technologies faster than MNCs. The savvy entrepreneur would know how to minimise the impact of a failed product and move onto the next project without much fuss. This also means that the investor would not lose much of their initial capital should the first project in a small company fail to take off.”

“I think that a lot of people are just using buzzword. Fintech is being used a lot but I don’t think it really means anything. Large finance and banking institutions, for example, are getting in on it – or so they say. There are some who actually get involved, like DBS who I think are doing a lot for the region, as well as HSBC who do have some programmes for innovation. But I think a lot of these large institutions are talking about finance innovation for PR purposes.”