BackSequoia invests `50 cr in iCreate
iCreate raises funds from Sequoia Capital and IDG Ventures India for an undisclosed stake
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Mumbai: Bangalore-based business analytics firm iCreate Software India Pvt. Ltd has raised ₹ 50 crore in a second round of funding led by private equity (PE) firm Sequoia Capital India Advisors. iCreate, which caters to the banking sector, has raised funds from Sequoia Capital and IDG Ventures India for an undisclosed stake.
iCreate will be using the funds raised for expansion of the product portfolio, product improvement and geographical expansion. The firm has maintained its focus on South Asia, South-east Asia, Africa and the Middle East and North Africa.
“However, with Sequoia on board we will be looking to expand our footprint in North America, the UK and Western Europe," said Vivek Subramanyam, chief executive of iCreate.
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