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RIL acquired 85% stake in SaaS platform NowFloats

Nabanita Dutta

News Editor

Reliance Industries Limited (RIL) owned RSBVL has acquired 85% stake in NowFloats for $20 million. RSBVL has also proposed to make a further investment of up to Rs 75 crore by December 2020. This investment will be beneficial for RIL's digital and new commerce initiatives. 7-years old startup NowFloats runs 3 flagship products and deals with several verticals including doctors and clinics, hotels and spas and others.