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My First Cheque signs its 'first cheque' for MeriCAR.com

By SiliconIndia   |    1 Comments
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Bangalore: My First Cheque, a seed fund, was launched in December 2010. They announced its first investment deal with MeriCAR.com, India's car servicing web portal.

My First Cheque encourages young and budding entrepreneurs with ideas to start their own companies and plays an integral role in seeding and mentoring them to success. My First Cheque exemplifies the unique 'co-fun investoring' model. Co-fun investing is an abbreviation for co-founder investing, which entails evaluating and entering a business as a co-founder and not as an investor. Through this, My First Cheque affirms their role in mentoring and guiding entrepreneurs besides providing funds.

MeriCAR.com aims to help car owners to search the neighbourhood car service centre, connect to the right car workshop and save on car servicing bill.

Rakesh Sidana, Founder and Chief Executive Officer, MeriCAR.com "We are happy that My First Cheque recognized the potential of our idea and has taken the leap with us. With this investment, we look forward to strengthening our team and expanding our network further across the country and servicing a larger base of car users."

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Reader's comments(1)
1: Congrats to the team of mericar
Whats the deal size and share, if it can be shared?
Posted by:Pradeep - 18 Mar, 2011