Akshata Sharma
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Social media platform ShareChat has raised $16 Mn debt funding from new investor, Singapore-based EDBI, expanding the size of its previous debt round to $65 Mn
The Google-backed startup, which has been battling a funding crunch, raised the funds by issuing convertible debentures.
This is EDBI's second investment in an Indian startup. Earlier, it invested in home-decor startup Livspace.
As per the sources, ShareChat will utilise the fresh capital to expand its customer transaction businesses by investing in new monetisation features for the creator ecosystem.
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