The startup counts venture capital firms Nexus Venture Partners and Jungle Ventures among its list of institutional investors.
India’s fast-growing mobility sector is garnering the interest of global investors.
Firm returns to Indian startupland after 5 years; CLSA Capital too part of debt round
Equity financing round may value Mumbai-based co at $650-700 million.
Oyo co-living facility is home for 500 students of IIT-Delhi, which is facing hostel space crunch.
StashAway will use the proceeds from the Series B round for product development and market expansion.
Binny Bansal, Premji Foundation and others come on board as investors in firm’s first venture debt fund.
The transition comes at a time when firm’s rivals are closing the gap.
The company will primarily use the proceeds to ramp up infrastructure. Moglix is currently present in 14 locations, and plans to be in 22-25 industrial hubs.
The transaction, which is expected to close by the end of the month, will value the five-yearold company at $500-600 million, according to multiple sources aware of the development.
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