22 C
Jaipur
Sunday, November 22, 2020

WinZO raises $2m from Stephan Pagliuca, co-chairman of Bain Capital – Latest News

Must read

The Xtron Pro Is a Unique Game-Console cum Smartwatch

Over the past few years, we have seen many companies develop educative tools and robots with an aim to help kids learn to code....

Epic Games Store Now Shows the Prices of Games in INR

Apart from fighting the epic legal battle with Apple, Epic Games is also working on its online games Store to bring support for more...

Google’s New AI-System Helps Blind People Run Independently

During a one-day hackathon event at Google back in September 2019, Thomas Panek, the CEO of a non-profit organization for the blind asked Google...

Vernacular entertainment platform WinZO said it has raised $2 million (about Rs 15 crore) in funding from Stephan Pagliuca, co-chairman of private equity firm Bain Capital, through a mix of primary and secondary shares. Pagliuca, who is also the co-owner of the popular NBA Basketball team, Boston Celtics, has invested through his office Pags group and this is his first investment in India, a statement said.

Secondary shares – worth $1 million – will be purchased from employees and early investors as part of the transaction, it added.

“We are thrilled to be backed by Stephan, an investor of high repute in our growth journey. The kind of confidence exhibited by industry experts from across the globe is a testament to the scalable, sustainable and robust business we have built in a very short span of time,” WinZO co-founder Saumya Singh Rathore said.

In August this year, WinZO had announced raising USD 18 million (about Rs 132.2 crore) in funding led by Singapore-based Makers Fund, and New York-based Courtside Ventures.

Currently, the company has about 60 employees and about 80 per cent of them would be eligible for ESOPs.

“WinZO grew 10X in last 12 months, clocking 1 billion microtransactions in a month. The company aims to maintain its rate of growth at a much higher base to add 100 million registered users to the platform in the coming 12 months by reaching deeper parts of Bharat. WinZO also plans to enter South East Asia,” Rathore said. SR RUJ RUJ

Source link

- Advertisement -

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article

The Xtron Pro Is a Unique Game-Console cum Smartwatch

Over the past few years, we have seen many companies develop educative tools and robots with an aim to help kids learn to code....

Epic Games Store Now Shows the Prices of Games in INR

Apart from fighting the epic legal battle with Apple, Epic Games is also working on its online games Store to bring support for more...

Google’s New AI-System Helps Blind People Run Independently

During a one-day hackathon event at Google back in September 2019, Thomas Panek, the CEO of a non-profit organization for the blind asked Google...

Hitman Developers Drop Teaser for a New James Bond Game

The Danish game developer, IO Interactive, which brought us the popular Hitman video-game series, recently dropped a surprise for all James Bond fans around...