BetterPlace acquires fintech lending startup Bueno Finance

Founded by Saurav Gandhi and Sandeep Arora in 2019, Bueno provides loans to workers. As part of US startup accelerator Y-Combinator’s Winter 2021 batch, the Gurugram-based startup raised around $3 million in total funding from Goat Capital, JAM Fund, Olive Tree Capital, Good Water Capital and angel investors like Kunal Shah and Anupam Mittal .

Founded by Saurav Gandhi and Sandeep Arora in 2019, Bueno provides loans to workers. As part of US startup accelerator Y-Combinator’s Winter 2021 batch, the Gurugram-based startup raised around $3 million in total funding from Goat Capital, JAM Fund, Olive Tree Capital, Good Water Capital and angel investors like Kunal Shah and Anupam Mittal .

On the other hand, BetterPlace is a workforce management company founded by Pravin Agarwala and Uday Singh in 2015. The Bengaluru-based firm has raised around $80 million in total equity from the likes of Macquarie Capital, Site Capital Partners, Jungle Ventures, British International Investment, among others.

On the other hand, BetterPlace is a workforce management company founded by Pravin Agarwala and Uday Singh in 2015. The Bengaluru-based firm has raised around $80 million in total equity from the likes of Macquarie Capital, Site Capital Partners, Jungle Ventures, British International Investment, among others.

Both Bueno Finance and BetterPlace operate in the same segment and cater to the blue collar workforce and count food delivery companies like Swiggy and Zomato as their clients.

Both Bueno Finance and BetterPlace operate in the same segment and cater to the blue collar workforce and count food delivery companies like Swiggy and Zomato as their clients.

“Bueno Finance was unable to raise funds and BetterPlace has been looking to get into lending. Hence this acquisition,” the person said Mint.

“Bueno Finance was unable to raise funds and BetterPlace has been looking to get into lending. Hence this acquisition,” the person said Mint.

Gandhi, after repeated calls and a WhatsApp message sent to him seeking comments on the deal, said he cannot comment on this development.

Gandhi, after repeated calls and a WhatsApp message sent to him seeking comments on the deal, said he cannot comment on this development.

An email request sent to BetterPlace has remained unanswered until the filing of this report.

An email request sent to BetterPlace has remained unanswered until the filing of this report.

Bueno’s other co-founder Sandeep Arora had quit the firm last year “after a disagreement with Saurav Gandhi and investor Goat Capital,” VCCircle reported last year citing sources.

Bueno’s other co-founder Sandeep Arora had quit the firm last year “after a disagreement with Saurav Gandhi and investor Goat Capital,” VCCircle reported last year citing sources.

“The disagreement stemmed from the company’s inability to onboard customers, leading to difficulties in raising funds,” the report added.

“The disagreement stemmed from the company’s inability to onboard customers, leading to difficulties in raising funds,” the report added.

BetterPlace has been on an acquisition spree since the last two years. It has acquired several startups including OLX People, AasaanJobs, Oust Labs, Waah Jobs, OkayGo and EzeDox. This year, the company marked its foray into the Southeast Asian market with two back-to-back acquisitions that include Indonesia-based company MyRobin and Malaysia-based flexi talent solutions technology player Troopers.

BetterPlace has been on an acquisition spree since the last two years. It has acquired several startups including OLX People, AasaanJobs, Oust Labs, Waah Jobs, OkayGo and EzeDox. This year, the company marked its foray into the Southeast Asian market with two back-to-back acquisitions that include Indonesia-based company MyRobin and Malaysia-based flexi talent solutions technology player Troopers.