Three points you will get to know in this article: In a recent development that could spell trouble for fintech firms, the Reserve Bank of India (RBI) has purportedly instructed Visa and Mastercard to prohibit card-based commercial transactions initiated by companies. Interestingly, some fintech players like Enkash, Karbon, and Paymate facilitate card payments for functions such as settling bills with…
Three points you will get to know in this article: The Bharat Fintech Summit 2024, orchestrated by The Digital Fifth in the bustling city of Mumbai, attracted a crowd of 3,000 enthusiastic participants deeply rooted in India’s fintech community. Spanning from February 7 to February 8, the event’s second installment showcased a remarkable lineup featuring 23 engaging speaker sessions, five…
Three points you will get to know in this article: On Friday, EaseMyTrip, the online travel aggregator (OTA) platform, unveiled its financial performance for the final quarter of 2023 (Q3 FY24). The report highlights a commendable uptick in business volume alongside a slight dip in profits for the quarter. According to the consolidated financial statements filed with the National Stock…
Three points you will get to know in this article: On Thursday, Zomato, the pioneering foodtech and quick commerce platform, unveiled its financial performance for the third quarter of the ongoing fiscal year, Q3 FY24. The latest figures reveal not just a commendable surge in scale, but also a remarkable 3.8X leap in profits. According to the company’s consolidated financial…
Three points you will get to know in this article: A pioneering Agritech venture, BigHaat, has recently secured a substantial $8.4 million in Series C funding. This investment round, jointly spearheaded by the esteemed Ashish Kacholia and RBA Finance and Investment Company, underscores a significant stride in BigHaat’s growth trajectory. Notably, the infusion of capital also witnessed enthusiastic participation from…
Three points you will get to know in this article: In the past, Hike experienced a period of slow progress and transformations within its business landscape. However, in the most recent fiscal year, there was a remarkable upturn in its expansion. Particularly noteworthy was the growth of Hike’s Rush Gaming Universe (RGU), a platform hosting a variety of skill-based casual…
Three points you will get to know in this article: In the financial year of 2022, API Holdings, the parent company overseeing the online pharmaceutical service PharmEasy, faced significant financial setbacks. However, in the subsequent fiscal year of 2023, the Mumbai-based company successfully enhanced its financial performance. Despite this improvement, API Holdings had to make compromises on the rapid expansion…
Three points you will get to know in this article: Increasing numbers of Indians are exploring alternative financial instruments that promise higher returns on their investments. In the recent month, India witnessed a remarkable surge in new Demat account registrations, setting a record at 42 lakh, with the overall count reaching 13.93 crore. Altitude Club, headquartered in Gurugram, is on…
Three points you will get to know in this article: Hyderabad-based fintech NBFC, Vivifi India Finance, has successfully secured $75 million in its Series B funding round, a blend of debt and equity. Although the specific investors remain undisclosed, regulatory filings indicate that BP IN VPF LLC has contributed to this funding, propelling Vivifi’s valuation to an estimated $150 million.…
Three points you will get to know in this article: Zoho stands out as a rare gem in the tech industry, successfully unraveling the secrets to achieving both expansive growth and a robust financial standing. Remarkably, this feat was accomplished without relying on external capital. In the fiscal year 2023, Zoho witnessed an astounding surge of almost 300% in its…
