ImpactAlpha’s #DealFlow 2.29.2016: FinTech, EdTech … and Impact in India

Edtech and fintech dominated the dealflow last week, and India continues to be a hotbed of impact investment activity. Boston education software firm Ellevation raised growth capital from some big names in tech; EduBridge got backing for its youth skills training model; and ATMs, perhaps the original fintech innovation, are considered a key to financial inclusion in India.

dealflow

Emerson Collective leads funding for Ellevation's English-learning approach. The Boston-based venture's software to track progress of K-12 students learning English is used in more than 450 school districts in 37 states. Ellevation raised $6.4 million from Emerson Collective, headed by Laurene Powell Jobs, along with Zuckerberg Education Ventures and Omidyar Network.

EduBridge raises $2.5 million for youth skills training in India. Mumbai-based EduBridge provides vocational skills training and job placement for rural and semi-urban youth and reaches 6,000 students in 12 training centers in four states in India. Series A investors included Acumen Fund and Insitor Impact Asia Fund. in a Series A round.

Indian fintech firm raises expansion capital.  Electronic Payment and Services helps retail banks manage ATM networks across India. The company, which had previously raised $20 million from Aavishkaar, Aavishkaar GoodWell and Dutch development finance institution, FMO, raised its series D financing. Intellecap advised EPS on the latest round, which included U.K.-based private equity fund Apis Partners.  The presence of ATMs in India is expected to double in the next five years to more than 500,000, supporting the government’s push for improving financial inclusion.

Omidyar takes stake in Newslaundry in India. The impact investor, drawn to Newslaundry’s mission to improve standards and transparency in Indian media, became the largest outside shareholder with 18.4 percent ownership. The founders, including four journalists– Madhu Trehan, Roopak Kapoor, Prashant Sareen, and Abhinandan Sekhri— retain 69 percent. This deal valued Newslaundry, founded in 2011, at 17 crore rupees ($2.5 million), according to VC Circle.

500 Startups adds funds to expand reach in fintech and India. Angel investor Dave McClure, mastermind of the business accelerator 500 Startups, has launched two new funds to invest in fintech and Indian start-ups.  “500 FinTech” will look for investable companies in lending, advisory services, personal finance management, insurance and money transfers, with 30 to 40 percent of the investments outside of the U.S. The Indian fund, 500 Kulfi,will focus on education, health, fintech, software and small business-centered ventures. The two funds are among about 10 such micro-funds, expect to make about 250 investments with $25 million.

TriLinc commitments pass $130 million with latest financing. TriLinc Global Impact Fund has issued $9.5 million in term-loans and trade finance to companies in Africa and Latin America. That brings the firm's  total commitments to $131 million. Among the borrowers: an agricultural intermediary in Argentina the drew $7 million under an existing financing agreement, a fish processing company in Ecuador, a textile distributor in South Africa and an oilseed distributor in Argentina.

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DealFlow is ImpactAlpha's weekly roundup of what, where, how and why impact capital flowed each week… See more impact deals in ImpactAlpha's DealFlow section. And send your dealflow news to info@impactalpha.com.

Photo credit: Ellevation

 

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