Deals Buzz: Gaming firm Nazara acquires Sportskeeda

Gaming firm Nazara acquires Sportskeeda

Mobile gaming platform Nazara Technologies Wednesday said it has acquired a majority stake in sports content website Sportskeeda.com, continuing its string of acquisitions and investments in the sports and internet space, Mint reported citing Nitish Mittersain, founder and managing director, Nazara Technologies. Nazara has invested ₹44 crore for a 67% stake in the popular sports content portal, valuing it at about ₹65 crore. The acquisition will also help Nazara expand its user base to countries such as the US, where Mittersain says Sportskeeda has a following because of its content on the popular pro-wrestling company World Wrestling Entertainment. Nazara, which was planning to go public in 2018, and had obtained approval from the markets regulator, shelved its plans owing to weak market conditions. It plans to attempt a listing again next year.

Co-living platform Zolostays in talks to raise up to $100 mn

Nexus Venture Partners-backed co-living startup Zolostays Property Solutions Pvt. Ltd is in advanced talks with new investors to raise up to $100 million for its Series C round through a mix of equity and debt options, Mint reported citing Nikhil Sikri, chief executive of Zolostays. The company is looking to close a $100 million round, which will be used to fund the expansion of its workforce team in the new cities it launched operations in, this year. The funding will also be used to increase inventory size and upscale furnishing options across its current inventory as well. Zolostays had last raised $30 million in its Series B round in January from investors including IDFC Alternatives, Mirae Asset, and Nexus Venture Partners. Other investors in the company include Alec Oxenford, founder of OLX, and Chennai-based Olympia Developers and Patni Computers Family Office.

Fintech startup Tala raises $110M to expand into India

Fintech company Tala has raised $110 million in Series D funding led by RPS Ventures. The funding round was joined by GGV Capital, with participation from previous investors including IVP, Revolution Growth, Lowercase Capital, Data Collective VC, ThomVest Ventures and PayPal Ventures, The Economic Times reported. The company will use the fresh capital to expand in India, support the launch of new products centred on financial health, and grow its team across offices including its Bengaluru engineering hub. The consumer lending app, which is present in emerging markets, raised an additional $100 million in debt financing over the past year, including $50 million that was led by Colchis Capital. Tala’s app, which is available on Android devices, analyzes device and behavioral data to instantly underwrite these consumers and create a personalized loan offer.

Fintech Venture Avanti to raise $150 million

Avanti Finance Pvt Ltd, the fintech venture created and funded by Ratan Tata and Nandan Nilekani, will be raising $150 million in a combination of equity and debt to meet its investment needs for the next 18 months, The Economic Times reported citing Rahul Gupta, the chief executive of Avanti. It will look to raise the money from development finance institutions, social impact investors and endowment funds. The company, incorporated in 2016 with philanthropic capital from Tata and Nilekani, is building a technology platform for loan products and capital of third parties to ride on and serve the needs of those without access to loans. It is a last-mile connectivity product that will ultimately connect institutions and banks with customers of small-ticket loans and insurance products. Avanti Finance has an NBFC licence and a microfinance institution licence, and has built up a ₹50 crore loan book with its own capital as a proof of concept.