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FINTECH UNICORN CRED
Razorpay eyes IPO; Sarvam's $1.5 billion leapHappy Monday! Razorpay is planning an IPO at a lower valuation than its $7.5 billion peak. This and more in today's ETtech Morning Dispatch.- India mints only five unicorns so far; investors say 2021-style boom unlikely to returnBesides macroeconomic uncertainty and geopolitical issues, investors turned more cautious after the exuberant period of 2021, prioritising ...
- Affluent Indians see surge in financial activity, says CredAccording to the report by Cred Money, around 42% of individuals receive dividend payments an average of 10 times a year, indicating a shif...
- MakeMyTrip to acquire Happay from CredHappay’s business to be split with Cred retaining payments vertical and MakeMyTrip taking over travel & expense management business.
- Cred rolls into insurance space via Garage platformGarage is a platform where Cred users can track their vehicle spends, pending traffic ‘challans’, and insurance and pollution renewal dates...
- 60% of Indian unicorn founders achieved $1-billion valuation in maiden attempt: reportIn the last two years, companies such as quick commerce platform Zepto, non-banking lender InCred, Ola founder Bhavish Aggarwal’s artificia...
- Fintech lending platform Moneyview acquires fintech startup Jify; attains unicorn statusMoneyview, which did not receive any fresh money in the deal, had last raised $75 million at a post-money valuation of $900 million in 2022...
- India to have 150 fintech unicorns with combined $500 billion valuation by 2030: reportThe report, titled ‘Indian Fintech Journey from Evolution to Mega Public Listings’, released on Tuesday, forecast that the combined revenue...
- Cred launches offline QR code-based ‘scan and pay’ paymentsPeak XV-backed startup Cred has been pushing its UPI payments feature aggressively. The fintech wants its customers to use the app to scan ...
- Fintech funding in Q4 down over 50% YoY, but up 59% from Q3According to the Fintech India report released by data intelligence platform Tracxn, funding during the January-March quarter dried up year...
- Cred's head of risk Kunal Kashyap quits, set to join SliceKunal Kashyap moves from Cred to Slice, which merges with North East Small Finance Bank. Pending approvals from Competition Commission of I...
- Cred hires Sujay Das to head risk for in-house NBFC Newtap FinanceSujay Das, who spent more than 12 years at HSBC Bank and then was with Bajaj Finance, heading its analytics team, had joined Bengaluru-base...
- Venture Catalysts floats new fund to focus on growth-stage fintech investmentsWith a target size of $100 million, Beams will look to invest $8 million-$10 million in growth-stage funding rounds of Indian fintech compa...
- Indian startups' hiring spree continues amid record funding this yearThere are nearly 70 unicorns — startups valued at $1 billion or more — in India and these are likely to create 125,000-160,000 white-collar...
- Cred valuation nearly doubles after $250-million fundingCred’s funding round, which was co-led by Tiger Global and Falcon Edge, saw two new investors Marshall Wace and Steadfast Venture Capital j...
- Indian startups raised $6.5 bn in April-June 2021, 11 unicorns createdAbout 160 funding deals were closed in the three months to June 30, up 2% from the January-March period, while fundraising rose 71% to $6.5...
- Pine Labs appoints Cred founder Kunal Shah to its boardThe appointment comes a month after the startup raised over $600 million in funding.
- Unicorns, soonicorns on a hiring spree as Covid-19 accelerates digital adoptionDuring the pandemic, the unicorns offered jobs to more than 45,000 people, while soonicorns hired nearly 20,000.
- Razorpay gets $160 mn funding, valuation trebles in less than 6 monthsRazorpay will use the funding to expand into Malaysia, Indonesia and Singapore, CEO Harshil Mathur says. The company is also in the process...
- Falcon Edge, others in talks to back Cred at $2 billion valuationThe Bengaluru-based fintech firm is in talks to mop up around $200 million in a round which will see participation from new investors like ...
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