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Bhavya Dilipkumar

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Freshworks reports a 19% jump in consolidated revenue at $153.6 million, targets $1 billion revenue by 2026

BUSINESS

Freshworks reports a 19% jump in consolidated revenue at $153.6 million, targets $1 billion revenue by 2026

Freshworks' non-GAAP income jumps to $17 million in Q3 as against a loss of $3.1 million last year. The firm is planning to monetise its Freddy AI offerings from Q1 of 2024.

Vridhi Home Finance raises Rs 150 crore in series A round from Elevation Capital

BUSINESS

Vridhi Home Finance raises Rs 150 crore in series A round from Elevation Capital

The Bengaluru-based startup will be expanding its branches within Karnataka, Andhra Pradesh and Telangana in the next 12-18 months

Indian enterprise SaaS firms adopt novel strategies to survive macroeconomic pressure

BUSINESS

Indian enterprise SaaS firms adopt novel strategies to survive macroeconomic pressure

One of the largest Indian SaaS players, Zoho, said that it witnessed a very steep demand slowdown in September.

BharatPe's chief product officer Ankur Jain resigns

BUSINESS

BharatPe's chief product officer Ankur Jain resigns

This comes at a time when the company is continuing to see some top-level exits within the last few months.

Rapido pilots cab ride hailing and hyper local delivery

BUSINESS

Rapido pilots cab ride hailing and hyper local delivery

Rival Ola also entered the parcel delivery service segment recently through the launch of 'Ola Parcel'. The parcel delivery space is currently dominated by players like Porter, Swiggy Genie, Uber and Dunzo

Ola Electric closes Rs 3,200 crore funding round in a mix of debt and equity

BUSINESS

Ola Electric closes Rs 3,200 crore funding round in a mix of debt and equity

The funds raised will be used to expand Ola's EV business and to set up India's first lithium-ion cell manufacturing facility in Krishnagiri, Tamil Nadu, the firm said in a statement.

Mobikwik-owned Zaakpay gets RBI's in-principle nod to operate as payment aggregator

BUSINESS

Mobikwik-owned Zaakpay gets RBI's in-principle nod to operate as payment aggregator

The in-principle nod comes two years after Mobikwik filed an initial application with the RBI. In 2021, Mobikwik applied for the PA license for Zaakpay to RBI, however, the same was rejected and the firm re-applied in October 2022

Zerodha rival Groww turns profitable, revenue jumps 266% to Rs 1,277 crore in FY23

BUSINESS

Zerodha rival Groww turns profitable, revenue jumps 266% to Rs 1,277 crore in FY23

In FY23, the Bengaluru-based fintech diversified its offerings like lending and UPI payments within its app.

BharatPe clocks its highest-ever gross revenue in August 2023 at $23.5 million, ARR zooms to $282 million

BUSINESS

BharatPe clocks its highest-ever gross revenue in August 2023 at $23.5 million, ARR zooms to $282 million

The pick up in growth will not only give a fillip to its plans for a public listing but also comes as a relief, after the high drama that roiled the startup in the last year.

Paytm to add 1.5 million PoS devices every quarter, bets big on merchant lending

BUSINESS

Paytm to add 1.5 million PoS devices every quarter, bets big on merchant lending

As of September 2023, Paytm has a merchant base of around 3.8 crore and merchant paying subscription for devices has reached 92 Lakh an increase of 44 Lakh YoY and 14 Lakh QoQ.

Ola dangles Rs 70K monthly earnings for riders in push to expand e-bike taxi service

BUSINESS

Ola dangles Rs 70K monthly earnings for riders in push to expand e-bike taxi service

Ola is scaling up e-bike taxi operations in Bengaluru even as it waits for a licence from the Karnataka transport department.

Google Pay launches consumer and merchant lending products, enables credit on UPI

BUSINESS

Google Pay launches consumer and merchant lending products, enables credit on UPI

The company said that it is collaborating with partners in the financial ecosystem, including banks and NBFCs, to create products aimed at addressing the credit gap in India.

BIS approves India’s first-ever indigenous charging standard developed for light EVs

BUSINESS

BIS approves India’s first-ever indigenous charging standard developed for light EVs

According to experts, this standard addresses a large gap that existed in the market for a standardised connector for AC & DC combined charging systems for light electric vehicles

Wealth and asset management startup Neo bags $35 million funding from Peak XV

BUSINESS

Wealth and asset management startup Neo bags $35 million funding from Peak XV

Neo is also seeking an Non-Banking Financial Company (NBFC) license to enter into lending to its existing clients.

Whatfix is building its own Gen AI vision model, says CEO Khadim Batti

BUSINESS

Whatfix is building its own Gen AI vision model, says CEO Khadim Batti

The statement comes at a time when large SaaS players like Zoho are working on building their own large language models to power generative AI

TaxiForSure cofounder's fintech venture Zolve secures $100 million debt facility

BUSINESS

TaxiForSure cofounder's fintech venture Zolve secures $100 million debt facility

Zolve plans to use funds to offer credit products to migrants in the US. The firm is planning to expand its geographical presence with the new funding

SaaS firm SuperOps.ai raises $12.4 million in Series B funding round

BUSINESS

SaaS firm SuperOps.ai raises $12.4 million in Series B funding round

Founded in 2020 by Arvind Parthiban and Jayakumar Karumbasalam, SuperOps.ai simplifies the IT management process and workflow of managed service providers on a unified platform

Rupay goes international; UAE to use the tech for creating domestic card network

BUSINESS

Rupay goes international; UAE to use the tech for creating domestic card network

NPCI International announced a strategic partnership with Al Etihad Payments (AEP) to advance the development of the UAE’s first national Domestic Card Scheme

Ola launches all-electric parcel services in Bengaluru

BUSINESS

Ola launches all-electric parcel services in Bengaluru

The intra-city parcel delivery space is currently dominated by players like Porter, Swiggy Genie, Uber and Dunzo. Ola's close rival Uber also has parcel delivery service offering through 'Uber Connect'.

Cred revenue grows 3.5x to Rs 1,400 crore, losses widen 5% to Rs 1,347 crore in FY23

BUSINESS

Cred revenue grows 3.5x to Rs 1,400 crore, losses widen 5% to Rs 1,347 crore in FY23

While Cred has raised over Rs 8,000 crore to date, its cash reserves now stand at around Rs 2,050 crore. Based on its FY23 losses, this cash runway would last for the next three years.

Fintech startup Slice to merge with North East Small Finance Bank

BUSINESS

Fintech startup Slice to merge with North East Small Finance Bank

Slice said that the merger will help realise the entity’s shared goal of integrating technology with grassroots financial inclusion across the nation.

PayU India's CEO Anirban Mukherjee elevated to global CEO role

BUSINESS

PayU India's CEO Anirban Mukherjee elevated to global CEO role

The move is part of the fintech major's India-centric approach as PayU is looking to list in India sometime next year and looking at a valuation of $6-6.5 billion

Global economy is taking a turn for the worse says Zoho's CEO Sridhar Vembu

BUSINESS

Global economy is taking a turn for the worse says Zoho's CEO Sridhar Vembu

The Russia-Ukraine war and its impact on supply chains, high inflation rates, and the US Federal Reserve’s aggressive interest rate hikes are causing fears of a recession in the US, adding to the sector’s worries.

SaaS-accelerator Upekkha shifts gears to AI-focussed fund, launches new AI startup cohort

BUSINESS

SaaS-accelerator Upekkha shifts gears to AI-focussed fund, launches new AI startup cohort

Upekkha’s new cohort will have 40 startups which will receive an investment of $125,000 each. The platform will adopt a Y Combinator approach to equity and deployments

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