Warburg Pincus may lead $100-150 million funding round in Saas firm Whatfix
Warburg Pincus is set to lead a $100-150 million (about Rs 833 crore to Rs 1,250 crore) funding round in SoftBank-backed software-as-a-service (SaaS) firm Whatfix, said people with knowledge of the matter.
SoftBank, which holds more than 13% in the Bengaluru and US-based company, too is expected to participate in this round, which will see early investors Helion Venture Partners and Eight Roads Ventures making partial exits, the people said, adding that the round would be a mix of primary and secondary share sale.
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A term sheet is a non-binding offer to invest in a company after due diligence. In a secondary transaction, existing investors sell shares to new shareholders and the money doesn’t go to the company coffers.
ET’s queries emailed to Whatfix founder Khadim Batti, Warburg Pincus, Eight Roads Ventures and Helion Venture Partners remained unanswered till press time.
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