Funding news
EV finance platform Perpetuity Capital raises Rs 5 crore
Perpetuity Capital—the digital electric vehicle (EV) finance platform—has secured Rs 5 crore in debt from Clime Finance, a Delhi-based climate-focused financier. The firm will use the debt to finance two and three-wheeler electric vehicles (EV) in new geographies that it has expanded into over the last six months, it said in a statement.
Founded in 2017, Perpetuity Capital is an online platform that helps delivery drivers and autorickshaw drivers avail finance to purchase EVs for commercial use.
Clime Finance is an RBI-registered NBFC, focused on providing debt to founder-led small and medium enterprises engaged in climate action.
“We want to utilise this debt to finance electric vehicles that will be used to generate income for our borrowers. We believe that our company can have a lasting social impact in the form of providing finance to the autorickshaw and delivery drivers of India who have a minimal credit footprint. Moreover, with each three-wheeler EV that Perpetuity Capital finances we reduce 9-10 tons of carbon emissions over the lifetime of the vehicle,” Karamveer Dhillon, Founder and CEO of Perpetuity Capital, said.
Travel-banking fintech Niyo raises undisclosed funding from Spring Marketing Capital
Bengaluru-based Niyo, a digital travel and banking-focused fintech, has secured an undisclosed amount of funding from Spring Marketing Capital.
The infusion is expected to help Niyo strengthen its position in the travel-banking category in India through innovative product and marketing strategies, it said in a statement. As part of this partnership, Spring Marketing Capital will contribute to Niyo’s efforts in growing the travel banking sector by aiding the overall brand strategy, partnerships and campaigns.
“Over the past few years, Niyo has made a significant difference in the lives of India’s urban millennials and outbound travellers, through its compelling product offerings. We’ve been able to create an impactful brand and with Spring joining forces with us, we’re excited to create a formidable brand with their strategic marketing innovations,” Vinay Bagri, Co-founder and CEO of Niyo, said.
Other news
Amazon, Microsoft join hands with CBI to protect consumers from impersonation scams
Global technology companies Amazon and Microsoft have teamed up with the Central Bureau of Investigation (CBI) to take action against perpetrators of technology support fraud.
On Thursday, CBI had said it conducted multiple criminal raids in various cities against illegal call centres in India that were set up to impersonate Microsoft and Amazon customer support. The illegal call centres affected more than 2,000 Amazon and Microsoft customers in the US, Australia, Canada, Germany, Spain, and the UK.
“We are pleased to join forces with Microsoft, and we believe actionable partnerships like these are critical in helping protect consumers from impersonation scams,” Kathy Sheehan, vice president and associate general counsel at Amazon, said in a blog post.
“Amazon will remain vigilant and persistent in our efforts to stay one step ahead of fraudsters, but we cannot win this fight alone. We encourage others in the industry to join us as a united front against criminal activity,” the blog added.
Rapido teams up with Bengaluru Traffic Police to enhance road safety
Bike-taxi service provider Rapido has joined hands with the Bengaluru Traffic Police to organise an awareness drive by distributing helmets and raincoats to 200 traffic policemen at Shalini Ground, Jayanagara.
The move aims to enhance road safety awareness by adhering to traffic rules, wearing protective gear, and practising responsible riding behaviour.
Rapido is also actively investing in enhancing the infrastructure available to traffic police officers by installing modern traffic police booths at 15 locations throughout the city, it said in a statement.
“We are excited to team up with the dedicated officers of Bengaluru Traffic Police to further our mission of enhancing road safety in the city. This collaboration highlights our commitment to ensure safer streets in Bengaluru. Together with our esteemed partners, we aim to make a positive impact on road safety for all residents and commuters in the city,” Pavan Guntupalli, Co-founder of Rapido, said.
(This article will be updated with the latest news throughout the day.)
Edited by Saheli Sen Gupta
