Business briefs

Medical devices distributor Genworks on Tuesday said it has raised Rs 15 crore in debt funding from Blacksoil. The funds will be used for meeting the working capital requirements and expanding the company's newly acquired In- Vitro Diagnostics segment of IRIS Healthcare, a statement said.

The acquisition complements and accelerates the current In-Vitro Diagnostics segment of Genworks and improves its geographical footprint, it added.

Genworks Health distributes for over 25 medical equipment manufacturers across 500 districts in India. Apart from being backed by GE Wipro, the company has also raised funds from Somerset Indus Capital Partners, Evolvence, and Morgan Stanley. **** Amazon Pay ICICI Bank credit card onboards over 2 mn customers *ICICI Bank and Amazon Pay on Tuesday said the Bank has crossed the milestone of issuing two million 'Amazon Pay ICICI Bank' credit cards. Amazon Pay and ICICI Bank had introduced the card - powered by Visa - in October 2018. ''...the card has emerged as the fastest co-branded credit card to cross this milestone in the country. The card also holds the record of being the fastest co-branded credit card in India to cross the milestone of one million issuances in October last year,'' a statement said.

The card has boarded another one million customers in the last nine months, with over 80 per cent of new customers availing the card completely digitally, without any physical interaction, it added.

**** Flexiloans partners with GooglePay *FlexiLoans.com, a MSME (Micro, Small and Medium Enterprises) -focused digital lending platform, on Tuesday announced its partnership with Google Pay and said it aims to disburse loans to over 50,000 small businesses in the next 12 months through this collaboration.

The collaboration will address the credit gap by offering instant loans to small merchants and entrepreneurs across India that are unable to access formal credit, a statement said.

FlexiLoans.com is the first lender to go live on the Google Pay platform, it added.

''The systems have been co-created and designed for a superior customer experience. FlexiLoans' proprietary technology platform has been deployed across many ecosystems in the country and are designed for embedded credit capabilities,'' it said. Over the last 4 years, FlexiLoans has disbursed unsecured business loans worth over Rs 1000 crore in more than 1400 cities. It has more than 100 ecosystem partners to get access to over 5 million MSMEs in the country.