BUSINESS
WoodenStreet raises $3 million in series-A funding from IAN Fund
It plans to foray outside India and double its current physical footprint.
BUSINESS
Unlock 1.0: Local stores show faster sales recovery than organised retail: Report
Digital payments player Innoviti says segments such as fashion, apparel and jewellery are still running short of January transaction numbers.
BUSINESS
UPI makes a strong comeback, records 1.2 billion transactions in May
It has managed to reach March levels in terms of number of transactions, showing rapid adoption of UPI
BUSINESS
SBI tops UPI transactions with over a billion in four months
Axis Bank, ICICI Bank, HDFC Bank and Paytm Payments Bank are the most commonly used bank accounts for UPI payments, NPCI data shows
BUSINESS
Mobility startups bet on long-term subscriptions to thrive in post-COVID-19 world
Vogo, Bounce and Royal Brothers are offering year-long rentals as consumers get wary of sharing vehicles with others.
BUSINESS
BharatPe gets Instalocate co-founder Ankur Jain as its new chief product officer
This is the fifth CXO position at BharatPe which has been steadily building its top leadership team to drive growth.
BUSINESS
New COVID-19 worry for banks — a big spike in NPAs from cab aggregator loans
With no visibility of revival and change in consumer behaviour with respect to public transport, cab aggregators worry about prolonged difficulties ahead.
BUSINESS
Groww takes aim at Zerodha, begins testing stock trading platform
Its entry could potentially open the gates to more new generation investment startups that intend to coax a small but growing number of people looking to invest directly in stocks.
BUSINESS
EXCLUSIVE: Recurring payments on UPI set to start; payment apps boost tie-ups with lending platforms for EMIs
Sources say that NPCI is working on the product and could go live with select banks in the next couple of months.
BUSINESS
EXCLUSIVE | Swiggy’s latest offering: Supplies on credit for partner restaurants
Swiggy Staples Plus, which is being tested, will offer the credit option to restaurants that get their supplies through Swiggy Plus.
BUSINESS
NPCI brings back Aadhaar-based electronic NACH
This was stopped after the Supreme Court verdict on Aadhaar, but will be resumed post June 1 following clearance from the govt.
BUSINESS
Hit by lockdown, Worldline reports 60% fall in transactions in April
Covid19 will establish a new normal in digital payments, the company says in a quarterly report,
BUSINESS
RupeeRedee moves into B2B software solutions, will help other NBFCs ‘GoDigital’
The company is positioning itself for a post-coronavirus world that is expected to see a spike in demand for digital customer services
BUSINESS
Indian exchanges working on lending, margin trading as crypto dealings go mainstream
CoinDCX offers DCXLend and WazirX is all set to go live with lending features.
BUSINESS
CoinDCX raises fresh funding of $2.5 million from Polychain Capital, Coinbase Ventures
The startup has seen a massive jump in the adoption of a crypto exchange platform with COVID-19 throwing traditional markets into a tizzy
BUSINESS
Why Amazon launched its food delivery business in the middle of a pandemic
The online food delivery business is a mess, with consumers in hiding and restaurants pushing back. Yet, Amazon Food was launched last week.
BUSINESS
Zomato elevates Mohit Gupta as fourth founder
This development comes while Zomato is in the middle of a downsizing operation and is looking to ensure steady revenue in the middle of a pandemic
BUSINESS
Investment platforms find value in digital KYC despite drop offs
Startups see value in the video KYC process, but are waiting for OTP-based Aadhaar authentication to encourage new users to the stock market
BUSINESS
Exclusive I Competition regulator launches probe into Zomato-Uber Eats deal
CCI examining if Zomato’s acquisition of Uber Eats India is anti-competitive and whether the two companies should have notified it about the transaction. Probe could impact similar deals between leading players.
BUSINESS
Amazon starts food delivery, picks Bengaluru for launch
The entry of Amazon Food could have massive implications for Swiggy and Zomato.
BUSINESS
Riskcovry has closed a pre-Series A round from Bharat Inclusion Seed Fund and others
The B2B insurtech startup offers insurance as a product to other corporates who in turn distribute it to their customers
BUSINESS
Fino Payments Bank hits operational profitability, revenue jumps 86% in FY 20
The bank has already reached 80% of its pre-COVID-19 business volumes.
BUSINESS
Ecommerce players, logistics startups join hands to beat last-mile challenges
Large retailers are tying up with ride-sharing hyperlocal delivery startups to ensure doorstep deliveries.
BUSINESS
CureFit to start charging customers for online classes
The startup is betting big on online fitness classes.
