Amazon will be reducing its dependence on its largest merchant Cloudtail, which is owned by a joint venture between Amazon Asia and NR Narayana Murthy.
Marketplace wants to snag at least a fifth of online TV-sales market in the next 18 months; it has a team of handpicked managers ready for the role.
Hero is expecting to fetch around $120 million, or little more than Rs 800 crore, from the stake sale and the deal would value Hero FinCorp (HFCL) at about $1.2 billion.
The new round of funding will peg the post-money valuation of the Gurugram-based startup at Rs 3,129 crore or about $460 million, the filing reflects.
The firm has also made a first close at Rs 78 crore for its debut private equity fund, CapAleph Indian Millennium SME Fund, raising money from domestic investors.
New York-based investment firm Thrive Capital, Russia's ru-Net Holdings and existing investor Chinese online giant Tencent are in advanced negotiations with the company.
The round, which also saw the participation from all existing investors, Network 18, Accel Partners, and SAIF Partners, values the portal at more than Rs 3,000 crore.
It is discussing internally if it should hold its Big Billion Day event on separate days in October so it has greater control over deliveries and customer service.
The development comes as investor interest in non-banking finance companies (NBFCs) has increased, especially those lending to small merchants and leveraging technology.
VC funding hit a peak in 2015, as 473 deals were registered during the year against 307 deals recorded in 2014.
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