Postman-India's most valuable SaaS startup📮
Amazon gets on board Smallcase, China rebukes 43 apps over data misuse and more.
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Postman overtakes BrowserStack, valuation tops $5.6 Bn📮
SaaS startup Postman has raised $225 million at a post-money valuation of $5.6 billion, thus overtaking BrowserStack as India’s most valued software-as-a-service enterprise.
Founded in 2014 by Abhinav Asthana, Abhijit Kane, and Ankit Sobti in Bengaluru, Postman creates application programming interfaces, or APIs, that enable interactions between apps as well as functionalities within apps. It has around 17 million users and 500,000 organizations on its platform.
On June 17, BrowserStack raised $200 million in a funding round led by Mary Meeker’s Bond Capital, valuing the company at $4 billion.
Amazon backs Indian fintech Smallcase💼
Smallcase Technologies, a wealth management fintech platform, has raised $40 million. The financing was led by Faering Capital, with participation from Azim Premji's Premji Invest and Amazon.com Inc.
This is Amazon’s maiden investment in India’s wealth management sector, made through its $250-million, early-stage fund Amazon SMBhav Venture Fund.
Smallcase, based in Bengaluru, was founded in 2015 by IIT Kharagpur graduates Vasanth Kamath, Anugrah Shrivastava, and Rohan Gupta to expand digital access to capital markets by delivering weighted portfolios of equities and exchange-traded funds.
Hot Shorts ⚡
RaRa Delivery, an instant delivery startup based in Singapore, has raised $3.25 million in a funding round led by Sequoia Surge.
Charcoal Eats, a quick-service restaurant brand, has raised Rs 1 crore in growth capital to expand its menu and spend on marketing.
Probus Smart Things, a data analytics business, has secured $500,000 in a bridge round headed by Unicorn India Ventures.
China rebukes 43 apps for breaking data transfer rules⛔
China’s Ministry of Industry and Information Technology (MIIT) has found that 43 homegrown apps, including WeChat, illegally transferred user data, and ordered their parent companies to make rectifications.
The 43 apps had illegally transferred users' contact list and location data, while also harassing them with pop-up windows. The apps will have until Aug 25 to make rectifications, or else they will be punished in accordance with relevant laws and regulations.
Tweet of the day🐥
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