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Nearbuy, an Indian deals and discounts website has raised venture debt of Rs 15 crore (about $2.25 million) from Blacksoil Capital Pvt. Ltd., a non-banmking financing company.
The online discount and deal promoter will use the capital to invest in customer and merchant tech.
The last transaction by Nearbuy was in August 2015, when Groupon Inc. sold a majority stake in its India subsidiary Groupon India Pvt. Ltd to Sequoia Capital, through an investment of $17 million. Groupon now only owns a minority share in Nearbuy.
Nearbuy (Groupon India Private Limited) is India’s first hyper-local online platform that enables customers and local merchants to discover and engage with each other. Nearbuy also offers its merchants a strong branding and visibility-led platform that enables customers, in and around their establishments, to easily discover their businesses.
Blacksoil Advisory is an independent boutique advisory firm assisting and facilitating corporate clients to meet their growing strategic issues and help them realise their objectives, usually through financial planning, structuring / restructuring, M&A and capital raising. Blacksoil advisory is active across the full range of advisory roles to provide senior-level and conflict-free advice.
