India's largest IT services firm Tata Consultancy Services today said it has partnered with Bonnier AB to help the Nordic media conglomerate consolidate and rationalise computing and telephony infrastructure.
No financial details of the deal were disclosed.
"With the news and media world changing dramatically as a result of new technologies, we wanted to create more efficient infrastructure for Bonnier and at the same time free up resources for our continuous digital transformation of the Group," Bonnier AB CFO Goran Ohrn said.
Bonnier is a media group working in TV, daily newspapers, business and trade press, magazines, film, books and digital media. It has operations in 14 countries and has over 8,000 employees.
Capital Float raises $22 mn from Amazon
*Fintech company Capital Float today said it has raised USD 22 million (Rs 144 crore) in equity funding from Amazon.
The funds will be used to bolster Capital Float's proprietary end-to-end digital loan origination system and to design credit solutions for customers, Capital Float said in a statement.
This latest fund raise takes Capital Float's total equity funding to USD 107 million from investors like Ribbit Capital, SAIF Partners, Sequoia India, Creation Investments, and Aspada, it added.
In addition, the company has also raised debt amounting to USD 130 million till date (Rs 840 crore) from leading banks and NBFCs, it added.
"This partnership has enormous potential. In the past six months alone, we've added several new products and crossed Rs 1,200 crore (USD 185 million) in overall loan portfolio outstanding," Capital Float co-founders Gaurav Hinduja and Sashank Rishyasringa said.
Besides, the company has added 50,000 new customers across the country.
"With this investment from Amazon, we enter FY19 with relentless focus to add 3,00,000 customers and originate over Rs 5,000 crore (USD 800 million) in loans this year," the co-founder said.
Cash Suvidha to disburse Rs 400 cr to SMEs *Fintech firm Cash Suvidha today said it has targeted to disburse about Rs 400 crore loans to small business units, women entrepreneurs and as personal loan in the current fiscal.
In 2017-18, the company had disbursed around Rs 122 crore of loans, it said in a statement.
Cash Suvidha, that began its operations in May 2016, had disbursed nearly 70 per cent of the total loans to small and medium enterprises (SME) in fiscal ended March 2018.
Rajesh Gupta, Founder, Cash Suvidha said: "India today boasts of nearly 50 million firms that can be classified under the SME category. In addition, the number of women entrepreneurs in India is also growing at a fast pace." Since inception, Cash Suvidha has raised a total debt of USD 5.2 million and disbursed nearly Rs 154 crore of loans to over 35,000 borrowers with an average ticket size of around Rs 20,000-Rs 5,00,000.
The company recently partnered with StoreKing a rural digitisation and commerce optimisation platform, to jointly disburse loans worth nearly USD 6 million by the end of the current financial year.
"In the financial year 2018-2019, the company has a target to disburse nearly Rs 400 crore of loan amount to over 50,000 borrowers," the company statement said.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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