BUSINESS
Study abroad platform Leap eyes M&A in undergrad, upskilling segments; turns Ebitda positive
As the UK, US, and Australia impose stricter admission and visa rules for international students, Leap is witnessing strong growth in alternative corridors like Germany, Ireland, New Zealand, and the UAE, with Dubai searches alone rising 30–40% month-on-month.
BUSINESS
Pine Labs reports Rs 310 crore GST exposure in DRHP, appeals pending
The fintech unicorn is contesting multiple tax demands, including a Rs 214 crore GST order and a separate GST audit claim, even as ED scrutiny and older service tax disputes remain unresolved.
BUSINESS
From CEO to CTO: Here's what Pine Labs brass earns and the IPO windfall that awaits them
CEO Amrish Rau is set to draw Rs 5.8 crore annually and received a Rs 3.76 crore bonus in FY25; he also holds equity and stock options worth up to Rs 1,000 crore
BUSINESS
EMIs for Botox and Fillers: Fintechs tap into India's cosmetic lending boom with easy loans
From Botox to hair transplant, fintechs like Fibe, SaveIN, QubeHealth, and Arogya Finance are turning India’s cosmetic care market into a click-and-credit playground with easy EMIs, checkout financing, partner clinics, and corporate tie-ups to drive the makeover.
BUSINESS
Udaan builds payment system to cut external dependence, secures RBI nod for HIPL
Udaan, which lists Yes Bank as its official aggregator, is expected to gradually transition transaction flows to its in-house aggregator HIPL
BUSINESS
Scam alert: Google flags 4.1 crore transactions on GPay, blocks 60 million risky app installs
The US tech major said it is partnering with IIT-Madras to to build smarter privacy protections and secure digital interactions for the future
BUSINESS
Bad loan sale, credit shock push Kinara Capital into Rs 351-crore loss, trigger audit red flag
The Nuveen-backed MSME lender sold stressed assets to an ARC at a steep loss in FY25 amid rising covenant breaches and credit stress
TECHNOLOGY
"We woke up at 6 am as per your orders. Jai Hind": Digital surveillance and arrests push elderly Indians into isolation and financial distress
A retired couple’s ordeal reveals how technology and fear are being used to quietly loot the life savings of India's senior citizens.
BUSINESS
Exclusive: OfBusiness to pick up stake in Bengaluru-based apparel exporter Indian Designs in fifth deal ahead of IPO
The deal, which is still in process, is expected to strengthen OfBusiness’s presence in the apparel manufacturing space ahead of its planned $1 billion IPO. The investment follows the company’s recent acquisition of Kerala-based Elixir Extracts.
BUSINESS
Wealthtech platform Stable Money raises $20 million in Series B; pilots mutual funds, loan against FDs
The round, coming less than a year after its $15 million Series A, was led by Nandan Nilekani’s Fundamentum Partnership, with participation from existing investors Z47, RTP Global, Lightspeed, and new backer Aditya Birla Ventures.
BUSINESS
RBI embraces AI to tackle fraud and enhance efficiency
Like every other major institution, the RBI has taken firm steps to deploy and use AI tools with a view to optimising efficiency and effectiveness in its functioning across various departments, and with specific focus on tackling financial fraud and ensuring customer safety
BUSINESS
Good Glamm weighs Organic Harvest sale back to founders; lenders tap ex-KPMG COO to monitor finances
With several lenders exposed, Vaidyanathan was appointed as a neutral monitor to oversee fund flows, tighten disbursements, and ensure no payouts happen without lender oversight.
BUSINESS
Zerodha set to invest up to Rs 125 crore in NBFC arm as loan book tops Rs 400 crore
The secured lending business (Loan against Securities), which began active retail operations in 2021 via NBFC Zerodha Capital, posted a revenue of Rs 36 crore, with a profit of Rs 12.25 crore in FY25, up from Rs 7.2 crore a year ago. The firm declined to comment on the latest capital infusion.
BUSINESS
Unacademy founders Gaurav Munjal, Roman Saini to step down, in talks to spin off Airlearn as new venture
Munjal, who has been contemplating stepping away since last year, is said to have formally communicated his intent to the board in March this year.
BUSINESS
Mensa Brands in talks to raise Rs 220–250 crore pre-IPO bridge round, ropes in OLX India CFO
The Tiger Global and Accel-backed firm, which claims to have turned cash flow positive, has also roped in a new Chief Financial Officer (CFO) Akshay Jain from OLX India, replacing its outgoing finance chief and founding member Vinay Juluri, per sources.
STARTUP
Byju’s app taken off Play Store, services disrupted amid AWS payment issues
Byju’s cloud service suspension affects app functionality, blocks access to paid content, and limits full website availability across platforms
BUSINESS
NIXI is busy: From routing to securing domains, the internet exchange has got newer mandates now
The recent conflict with Pakistan places the development of India’s HTTPS root, and an internet resilience policy to keep core services running during cyber disruptions among its core tasks
BUSINESS
How two siblings in Jammu and Pathankot survived the night Pakistan rained hundreds of drones on India: A first-person account
Two siblings — in Jammu and Pathankot — recount a night of blackouts, sirens, and dread on May 8 as drones flew overhead and whispers of war spread faster than facts.
BUSINESS
GoKwik in talks to raise $20-25 million in internal round led by RTP Global
This comes few months after the Delhi-based firm acquired Shopify-based returns management app Return Prime to expand its reach into international markets.
BUSINESS
Marquee investors TIAA, Accion, Motilal raise stake in IKF Finance after funding round upsized to Rs 800 crore
Moneycontrol had earlier reported that IKF was in talks to raise $70–80 million from Norwest and a sovereign fund. Sources now indicate that the round has been upsized to $96 million, with fresh capital coming from existing institutional investors, promotors, and Norwest as a new entrant.
BUSINESS
MC Exclusive: PM Modi meets Adobe, YouTube, Instagram and India Inc chiefs at WAVES; discusses AI, copyright
A key concern raised during the meeting was the threat of copyright infringement posed by AI tools — an issue that has roiled global creative and tech circles.
BUSINESS
Bizongo faces scrutiny after auditors flag potential fraud
The auditors have raise concerns over possible financial discrepancies, prompting Bizongo to launch an internal investigation via existing consultant PwC while dealing with leadership changes and escalating lender disputes.
BUSINESS
MC Exclusive | Lendingkart taps veteran banker Prashant Joshi as CEO after Fullerton takeover
The former Managing Director (MD) at DBS Bank India, takes the helm at Lendingkart following Temasek’s Fullerton Financial Holdings acquiring a controlling stake in the company.
BUSINESS
Startup Mahakumbh 2025: From flying taxis to tribal tech, some stars may emerge
After the shebang, the bigger challenge is turning the buzz into breakthroughs, and ensuring that what sparked curiosity this week doesn’t end up as just another LinkedIn post.
