Zee Business Managing Editor Anil Singhvi on Friday revealed that U Gro Capital will acquire the business of Religare Finvest. The Market Guru was told that both companies have exchanged non-binding terms document between them. Citing sources, Zee Business correspondent Anurag Shah said Mumbai-based U Gro Capital will take over the business of Religare Finvest. He said, “U Grow Capital will acquire Religare Finvest for Rs 400 crore. Most important development in this regard is the exchange of non-binding term documents between the two companies, indicating it's almost a sealed deal now. The announcement in this regard will be also made anytime soon.”

Radius8, Inc. announced that its Welcomer solution for SAP Commerce Cloud is now available for online purchase on SAP App Center, the digital marketplace for SAP partner offerings. Radius8 Welcomer integrates with SAP Commerce Cloud to streamline deployment of localized experiences for businesses using SAP solutions.

The Reserve Bank of India (RBI) wants to develop an offline system so that digital payments can be expanded beyond metros and cities, a move that Governor Shaktikanta Das said will push the adoption in areas with slow or no internet. NPCI is working with three startups—ToneTag, Gupshup and Minkville—trying to test feature phone-based payments solutions.

Hootsuite has tapped a top executive from Zendesk as its CEO. Tom Keiser, formerly chief operating officer at customer service software maker Zendesk, will take the top position at Hootsuite on July 6. His appointment comes after Hootsuite founder Ryan Holmes announced plans late last year to step down. Holmes, who led the company for 12 years, will remain as chairman.

Degreed connects employees to learning resources to master new skills. The Edtech startup today announced it has raised $32 million in venture capital in a round led by Owl Ventures, bringing its total known raised to $182 million. The company was founded in 2012.

Mumbai, May 21 (PTI) SMEs-focused non-banking lender Ugro Capital on Thursday reported a Rs 20.3 crore net profit in the March quarter, as it completes the first full-year of operations, despite higher provisioning in the wake of COVID-19. Total income rose 28.4 per cent to Rs 37.1 crore in the reporting quarter from Rs 28.9 crore in Q3, the company said. According to its chairman and managing director Shachindra Nath, the good set of numbers is despite adopting a conservative approach to COVID-19 impact on loans and making Rs 3.3 crore specific provisions for this to ward off any asset quality crisis, and also to ensure that there are no negative surprises because over 80 per cent of customers have opted for loan moratorium.

NBFC-P2P lender, Faircent.com, has announced the launch of a new loan offering to help small businesses and individuals’ access credit in districts across India which have suffered low to nil impact of COVID-19 outbreak.The loan targets retailers, small business owners and salaried professionals facing short-term financial constraints caused by the lockdown in areas identified as the green zones – where there have been not more than 10 COVID-19 positive cases. These borrowers will be easily visible to the lenders on their dashboard through a green color-coded tagging #COVID-19 Low Impact Zone.SMEs-focused non-banking lender Ugro Capital reported a Rs 20.3 crore net profit in the March quarter, as it completes the first full-year of operations, despite higher provisioning in the wake of COVID-19

Building up its exec team, kids app maker HOMER has hired former Sesame Workshop creative director J Milligan as its first VP of children’s creative. Milligan joined the New York-based company last month in the newly created role, and is responsible for guiding the production of new early learning content targeting kids two to eight. Prior to joining HOMER, Milligan was Sesame’s creative director where he was the lead designer, writer and director on interactive TV, voice recognition and VR projects for kids such as the Sesame Street Family Play app, and the Xbox video game Kinect Sesame Street TV. After an 18-year stint with Sesame Workshop, Milligan became the head of Swedish app developer’s Toca Boca’s TV unit. In that role he built up the company’s television studio and team for its subscription platform Toca TV, which created more than 200 pieces of original content before the division shuttered it in 2017.

Saykara, the leading AI Virtual Assistant for automating clinical documentation, announced the appointment of industry veteran Dr. Graham Hughes, MD as President. Dr Hughes has more than 25 years of experience in healthcare information technology, both building and implementing physician workflow solutions. Most recently, he was CEO of Sutherland Healthcare Solutions, a wholly owned subsidiary of Sutherland Global Services focusing on digitally transforming services-based platforms, analytics, and RPA. At Saykara, Hughes will oversee all commercial operations, combining his deep clinical expertise with a strong technical background and a core focus on operations, sales and corporate strategy …

SquareFoot, an office space search company, announced today it has raised a $16 million Series B led by DRW VC. Existing investors, including Triangle Peak Partners, RRE, Rosecliff, and some senior real estate executives, also participated in the financing, which brings the company’s total funding to more than $29 million...

Degreed, the workforce upskilling platform for one-in-three Fortune 50 companies, has acquired Adepto, a Total Talent platform that provides visibility and access to the skill-sets of current, past, and potential workers. The combination will accelerate Degreed’s global expansion, and add enhanced skills inventories, on-the-job development experiences, and career mobility to the company’s learning experience platform.