Financial

E-commerce firm One97 Communications is separating from its Paytm subsidiary, which is set to raise funding from investors including existing backer Alibaba.

The insurance provider has joined forces with accelerator Plug and Play to create a scheme aimed at insurance technology as part of its Digital First strategy.

GMO reinvested in the online payment platform, also backed by Rakuten and CyberAgent in the past, as part of a series A-2 round that lifted its total funding to $5.2m.

The GV-backed round was closed at a reported $500m valuation, and brings the online lender's total debt and equity financing to just short of $260m.

Rakuten, which had previously taken part in a $14.5m series A round for payment platform Bitnet, has acquired the company for an undisclosed sum.

The digital health fund, launched by Astellas Pharma and MPM Capital late last month, will initially look to invest up to $6m in two to three deals per year.

LeEco has invested $27m in a series B round for online finance platform Lancai, which had previously raised cash from investors including Legend Holdings.

The State of Startup/Corporate Collaboration 2016 report suggests 67% of corporates prefer early interaction, with 82% saying interaction was at least somewhat important.

Yingcan-affiliated online lending platform Touzhijia.com has taken its overall funding to $17m with a series A round led by CDF Capital.