BetterPlace Acquires Fintech Lending Startup Bueno Finance

Finance


NEW DELHI: Fintech startup Bueno Finance merged with BetterPlace during the fundraising winter, according to a person familiar with the matter.

NEW DELHI: Fintech startup Bueno Finance merged with BetterPlace during the fundraising winter, according to a person familiar with the matter.

Founded in 2019 by Saurav Gandhi and Sandeep Arora, Bueno provides loans to blue-collar workers. As part of American startup accelerator Y-Combinator’s Winter 2021 batch, the Gurugram-based startup is backed by Goat Capital, JAM Fund, Olive Tree Capital, Good Water Capital, and angel investors such as Kunal Shah and Anupam. has raised a total of approximately $3 million in funding. Mittal.

Founded in 2019 by Saurav Gandhi and Sandeep Arora, Bueno provides loans to blue-collar workers. As part of American startup accelerator Y-Combinator’s Winter 2021 batch, the Gurugram-based startup is backed by Goat Capital, JAM Fund, Olive Tree Capital, Good Water Capital, and angel investors such as Kunal Shah and Anupam. has raised a total of approximately $3 million in funding. Mittal.

BetterPlace, on the other hand, is a blue-collar workforce management company founded in 2015 by Pravin Agarwala and Uday Singh. The Bengaluru-based company has raised approximately $80 million in equity from Macquarie Capital, Site Capital Partners, Jungle Ventures and others. , British International Investment and others.

BetterPlace, on the other hand, is a blue-collar workforce management company founded in 2015 by Pravin Agarwala and Uday Singh. The Bengaluru-based company has raised approximately $80 million in equity from Macquarie Capital, Site Capital Partners, Jungle Ventures and others. , British International Investment and others.

Both Bueno Finance and BetterPlace operate in the same segment serving a blue-collar workforce, counting food delivery companies such as Swiggy and Zomato among their clients.

Both Bueno Finance and BetterPlace operate in the same segment serving a blue-collar workforce, counting food delivery companies such as Swiggy and Zomato among their clients.

“Bueno Finance was unable to raise funds and BetterPlace was looking to finance. Hence the acquisition,” the person said. mint.

“Bueno Finance was unable to raise funds and BetterPlace was looking to finance. Hence the acquisition,” the person said. mint.

Gandhi said he could not comment on the development after repeatedly calling and sending WhatsApp messages seeking comment on the deal.

Gandhi said he could not comment on the development after repeatedly calling and sending WhatsApp messages seeking comment on the deal.

Email queries sent to BetterPlace remain unanswered until this report is submitted.

Email queries sent to BetterPlace remain unanswered until this report is submitted.

Another Bueno co-founder, Sandeep Arora, left the company last year “following disagreements between Saurab Gandhi and investor Goat Capital.” VC Circle I reported last year, citing sources.

Another Bueno co-founder, Sandeep Arora, left the company last year “following disagreements between Saurab Gandhi and investor Goat Capital.” VC Circle I reported last year, citing sources.

“The disagreement stems from the company’s inability to accommodate customers and difficulties in raising funds,” the report added.

“The disagreement stems from the company’s inability to accommodate customers and difficulties in raising funds,” the report added.

BetterPlace has been making acquisitions for the past two years. Acquired several startups including OLX People, AasaanJobs, Oust Labs, Waah Jobs, OkayGo and EzeDox. The company marked its foray into the Southeast Asian market this year with two successive acquisitions, including Indonesia-based company MyRobin and Malaysia-based flexi-talent solution technology company Troopers.

BetterPlace has been making acquisitions for the past two years. Acquired several startups including OLX People, AasaanJobs, Oust Labs, Waah Jobs, OkayGo and EzeDox. The company marked its foray into the Southeast Asian market this year with two successive acquisitions, including Indonesia-based company MyRobin and Malaysia-based flexi-talent solution technology company Troopers.



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