EarlySalary buys CashCare

Pune based online lender EarlySalary has acquired Mumbai headquartered startup CashCare, which gives consumer loans through non-banking financial companies, for an undisclosed amount.

CashCare analyses a user’s shopping and wallet data to instantly convert online purchases into EMI-based loans without credit card. This is known as checkout finance. The company has partnered 30 companies whose products the user can purchase, such as MakeMyTrip, ShopClues, Byju’s and HP. For financing the loans, it has partnered non-banking financial companies.

Owned and operated by Social Worth Technologies Pvt. Ltd, EarlySalary was founded in 2015. The three-year-old startup offers a mobile app that allows salaried individuals to avail instant loans for an average tenure of 30 days or till the next salary cycle. Users can avail these loans in the form of salary advances or credit card cash withdrawals. The mobile app is available on both Google Play Store and Apple App Store.

The company claims to be doing about 25,000 loans a month, disbursing about Rs 60 crore monthly. In its most recent fundraising, the Pune-based company raised Rs 100 crore ($15.7 million) in a Series B round led by Eight Roads Ventures India in January. Existing investors IDG Ventures India, Dewan Housing Finance Corp. Ltd. (DHFL) and Ashok Agarwal, director of forex and money transfer services firm Transcorp International Limited, also participated in the round.

Hewlett Packard acquires Aruba Networks

Hewlett Packard Company is an American Multinational Information Technology corporation. It provides software, hardware, and services to consumers, small and medium sized business and large enterprises, including customers in the government, health, and education sectors. Aruba Networks is a networking vendor selling enterprise wireless LAN and edge access networking equipment. Their core products are access points, mobility controllers, and network management software through their Airwave Management platform product.

Recently, HP acquired Aruba Networks in a deal valued at $2.7 Billion. The deal will expand HP presence in the mobile market, supporting faster speeds and access to cloud applications. Each company’s board of directors has approved the deal. HP has had a dismal record for big acquisitions, having written off multibillion dollar acquisitions of Autonomy and technology outsourcing provider EDS, which it bought in 2008.

HP, which has struggled to adapt to the new era of mobile and online computing, plans to shift into two listed companies this year, separating its computer and printer businesses from its corporate hardware and services operations. Aruba Networks was founded in 2002 and makes the hardware and software used to build Wi-Fi networks for customers. It currently maintains around 1,800 employees and saw revenues of $729 Million in fiscal 2014.

Aruba clients include KFC, University of Miami/University of Miami Health System, and Emirates Palace Hotel in Abu Dhabi. Aruba has offices throughout the Americas, Asia-Pacific/Japan and the Europe/Middle East/Africa Regions. The company raised its last series D round back in 2006 from investors such as ARTIS ventures, Trinity Ventures, Sequoia Capital, Matrix Partners, and Focus Ventures.