Way2News has raised $14 million in its Series B funding round while Veefin Solutions has acquired a 26% stake in EpikIndifi.
Way2News raises $14m in Series B funding
Hyperlocal news platform Way2News on Tuesday announced that it has raised $14 million in its Series B funding round led by WestBridge Capital, with participation from renowned venture capitalist Sashi Reddi.
The fresh infusion of capital, which follows the company’s Series A round two years ago, will help the company focus on scaling its operations, enhancing its technology, and further bolstering its presence in the South Indian market.
Founded in 2015 by Raju Vanapala, Way2News offers short, engaging news stories from trusted sources in local languages, leveraging its AI-powered, human-enhanced news delivery model to cater to user preferences.
Way2News is currently present in Andhra Pradesh, Telangana, and Tamil Nadu. Till date, the platform has witnessed over 50 million downloads.
Veefin picks up 26% stake in EpikIndifi
Fintech firm Veefin Solutions Ltd has acquired a 26% stake in software solution provider EpikIndifi in a cash and stock deal, per an announcement. Veefin also plans to invest Rs 25 crore into EpikIndifi over the next two to three years.
This marks the third acquisition by Veefin in the past three months, including Nityo Infotech and Regime Tax Solutions (which runs TaxGenie and PayInvoice).
EpikIndifi co-founders Rajendra Awasthi, Sushmitshri Babu, and Vaidyanathan Balasubramaniam will join the Veefin Group as part of the agreement.
The acquisition will help the group add new revenue streams through digital retail lending across personal loans, green loans, and buy-now-pay-later (BNPL) schemes.
