BUSINESS
Payment fintechs are getting squeezed as banks add charges for UPI merchant transactions
The bank charges are limited to those accounts where the PAs use the banks for merchant acquisition. Since the fees is 0.02%, PAs are likely to absorb the cost and are not expected to pass these to merchants immediately
BUSINESS
Freshworks raises FY25 growth guidance as Q2 revenue jumps 18% to $204.7 million
Freshworks also raised its non-GAAP operating income guidance for the full year to $153–157 million.
BUSINESS
Freshworks’ AI products cross $20 mn in annual recurring revenue as monetisation picks up
During the Q1 2025 earnings call, Freshworks’ CEO said AI adoption had moved beyond experimentation, with nearly half of all new large deals (over $30,000 ARR) in the quarter including Freddy Copilot.
BUSINESS
Neobanks diversify into cards, payments, investment businesses amid struggle to offer core banking services
Without a differentiated product, neobanks have taken the route of other fintechs, such as cards, lending and investments, leaving them to play in a crowded market with specialists
BUSINESS
Amagi's DRHP: Six key numbers to watch out for
The Bengaluru-headquartered company, backed by investors like Accel, Avataar Ventures, Norwest, and Premji Invest, is looking to raise fresh issue of around Rs 1,020 crores.
BUSINESS
SaaS firm MoEngage to raise $200 million from ChrysCapital, A91, Goldman Sachs
The round will be a mix of primary and secondary capital. While the primary component will go towards paying tax to flip back from the US to India, the secondary component will be used to buy shares from some of its early investors
BUSINESS
Tiger Global-backed Gupshup raises $60 million, explores reverse flip to India ahead of IPO plans
The funds will be used to deepen Gupshup’s presence in high-growth regions such as India, the Middle East, Latin America and Africa
BUSINESS
Zoho will go big on vertical SaaS… market is ripe for disruption, says CEO Mani Vembu
Zoho’s goal is not to compete with general-purpose models like ChatGPT but to solve specific business needs through vertical-focused AI, Vembu has said
BUSINESS
India will lead the second wave of AI startups, says Accel’s Shekhar Kirani
Indian founders excel at building in the second and third wave, by going deep into complex, vertical problems instead of chasing viral, horizontal use cases, the Accel partner has said
ARTIFICIAL-INTELLIGENCE
Global spend on vertical AI applications to hit $47 billion by 2030, Indian startups poised to gain: Upekkha Report
Fueling this momentum is a dramatic drop in AI infrastructure costs. Foundational model training, which cost $100,000 just a year ago, can now be done for $10,000, making vertical AI more affordable and scalable.
BUSINESS
Inside Indian fintech’s new AI playbook: Why Model Context Protocol is gaining popularity
By leveraging MCP, fintechs aim to personalise user experiences, automate complex processes, and even experiment with launching new financial products based on user insights
BUSINESS
Fi Money rolls out AI feature for users' queries on personal finance via ChatGPT, Gemini
Until now, users relied on generic prompts and manual inputs to use AI tools for financial advice, Fi has replaced this with a structured, consent-driven way to share real financial data, the neo-banking firm's co-founder Sumit Gwalani has said
BUSINESS
Yulu ramps up services amid quick commerce boom, targets 10,000 bikes in key zones in Bengaluru
Of the 45,000 vehicles in Yulu’s fleet, only about 4,000 are used by regular consumers, the rest serve gig workers
BUSINESS
Motor vehicle aggregator guidelines cap surge pricing, penalise cancellation by drivers, riders
The Motor Vehicle Aggregator Guidelines, 2025, mandate 80% fare to drivers. From fare caps to stricter driver checks, here’s how MVAG 2025 will reshape the ride-hailing game.
BUSINESS
AppsForBharat raises $20 million in Series C funding led by Susquehanna Asia Venture Capital
The firm plans to deploy to set up physical logistics and service fulfillment hubs in temple towns, and develop AI-led features for users on the app.
BUSINESS
"Slice now matches HDFC Bank's scale in monthly account openings,” says founder Rajan Bajaj
In an interview with Moneycontrol, Bajaj shares insights into this transformation, the massive market opportunity he sees ahead, and how Slice plans to serve over a billion Indians through innovative banking solutions.
BUSINESS
Driver fee, pickup fee, congestion fee: Bengaluru ride-hailing users hit hard by add-on charges
Karnataka transport secretary NV Prasad told Moneycontrol that the government has received complaints of fare hikes by app-based autos after the bike-taxi ban and will take strict action.
BUSINESS
A week after bike taxi ban, Bengaluru sees spike in traffic jams, costlier auto rides & angry gig workers
According to TomTom data, a Dutch location technology firm, congestion levels at 7 pm each day post-ban have consistently exceeded the city’s usual traffic levels for the same time slot.
BUSINESS
No pressure on founders, no hurry to exit: Zerodha's Rainmatter chief Dinesh Pai on new fund corpus, focus areas
Unlike regular AIFs, Rainmatter has an unusually long investment horizon of 15 years, adding a new meaning to patient capital. They also don't believe in pushing founders hard to perform.
BUSINESS
Freshworks is now an AI company, not just SaaS, says CEO Dennis Woodside
As AI takes over more repetitive tasks, Freshworks is seeing some reduction in workforce requirements but at the same time, the firm is also hiring for key roles, including AI research and development and engineering
STARTUP
Retail orders slip to 12-month low on ONDC even as total transactions hit all-time high in May
Retail’s share of ONDC transactions has dropped to 25% in May from 47% in October, while mobility has surged from 40% to 61%, emerging as the key driver of overall volume growth
INDIA
Karnataka bike taxi ban: Why innovation, government policies collide at India’s start-up hub
Industrialists slam the ban, accuse the government of giving into taxi unions. Bike taxis are essential for last-mile connectivity, affordable commuting and job creation in traffic-congested cities like Bengaluru, they say
BUSINESS
Karnataka bike taxi ban: Users ride as ‘parcels’, drivers switch to deliveries, last-mile fares spike on day one
The kicking-in of the bike taxi ban in Karnataka has left users stranded, riders scrambling for alternatives and platforms hustling to retain their fleets with delivery gigs.
TECHNOLOGY
Karnataka bike taxi ban kicks in; Rapido says it’s pausing operations
A Moneycontrol check on found Rapido replacing its bike taxi service with a 'bike parcel' option. Ola and Uber are still offering bike taxi rides
