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SHR Lifestyles raises Rs 80 cr from Alpha Capital

twitter-logo PTI        Last Updated: May 8, 2019  | 18:43 IST

New Delhi, May 8 (PTI) SHR Lifestyles, which owns women's ethnic wear brand Shree, Wednesday said it has raised Rs 80 crore from Alpha Capital Advisors. Shree will use the funding to further deepen its reach in existing markets and open up new geographies, the company said in a statement. "We will be deploying the funds to expand our distribution network by setting up new retail stores, scale up our business geographically, add senior talent and increase our customer base," SHR Lifestyles Chairman and MD Sandeep Kapoor said. The partnership will further help the brand materialise its vision of growing to over 300 company stores in the near future, he added. * * * FlexiLoans ties up with Truecaller to ease registration process * Digital lending platform FlexiLoans.com Wednesday said it has partnered with phone number search engine Truecaller to smoothen the process for users' registration. "Over the last three years, we have seen a dramatic shift in behaviour and today, more than 80 per cent of our borrowers use a mobile device to apply for a loan...With a product like Truecaller SDK (software development kit), Truecaller has helped us not only to improve our sign-up experience with a one-click registration but also identity verification," FlexiLoans.com co-founder Abhishek Kothari said. This alternate identity verification via Truecaller will also allow it to further strengthen its credit underwriting models and thereby, minimise risks in business, he added. * * * Mobile Premier League acquires Pune-based Crevise Technologies * Mobile e-sports platform Mobile Premier League (MPL) Wednesday said it has acquired Pune-based Crevise Technologies for an undisclosed amount. Crevise is a start-up which focuses on providing end-to-end product engineering consultation. "The deal consists of a combination of cash and equity and is more in the nature of an acqui-hire. Mukta Aphale and Atul Aphale, who founded Crevise Technologies in 2016, will lead the 10-member MPL team from Pune," a statement said. Through the acquisition, MPL aims to make the platform more robust, agile, and reliable for its users, it added. MPL recently received a series A investment of USD 35.5 million, led by Sequoia India and others. PTI SR RUJ SHW SHW

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