INSUBCONTINENT EXCLUSIVE:
businesses and individuals build online presence without any web developing skills.In a regulatory filing on Thursday, Reliance Strategic
million).Seven-and-a-half-year old, Hyderabad-headquartered NowFloats operates an eponymous platform that allows individuals and businesses
to easily build an online presence
helped over 300,000 participating retail partners
NowFloats counts Blume Ventures, Omidyar Network, Iron Pillar, IIFL Wealth Management, and Hyderabad Angels among its investors.Last year,
Business Ventures Limited, a wholly-owned subsidiary of Reliance Industries, said that it would invest up to 750 million Indian rupees
($10.6 million) of additional capital into the startup, and raise its stake to about 89.66%, if NowFloats achieves certain unspecified goals
In August, the conglomerate said it was buying a majority stake in Google-backed Fynd for $42.3 million
In April, it bought a majority stake in Haptik in a deal worth $100 million.There are about 60 million small and medium-sized businesses in
data plans and inexpensive Android smartphones, businesses are increasingly building online presence as well.But vast majority of them are
New Delhi-based BharatPe, which helps merchants accept online payments and provides them with working capital, raised $50 million in August
Khatabook and OkCredit, two digital bookkeeping apps for merchants, have also raised significant amount of money this year.In recent years,
Google has also looked into the space
In September, the company announced that its Google Pay service, which is used by more than 67 million users in India, will now enable
businesses to accept digital payments and reach their customers online.
