Zomato: 2% Stake Sold by Antfin Singapore for Rs 2,827 Cr
Antfin Singapore Holding, an affiliate of Alibaba’s Ant Financial Group, has reduced its stake in online food delivery platform Zomato by 2 per cent through open market transactions on Wednesday. The sale, which involved offloading over 17.63 crore shares, was executed within a price range of Rs 160.11-160.40 per share, resulting in a deal size […]
Swiggy Expands Food Delivery to 4 Railway Stations
Swiggy, India’s leading online food delivery platform, has partnered with IRCTC to offer food delivery services to passengers at four railway stations – Bengaluru, Bhubaneswar, Vijayawada, and Visakhapatnam. This is the first phase of the collaboration, which is expected to extend to 59 more railway stations in the coming weeks. The food delivery service will […]
Policybazaar Insurance Brokers Receives IRDAI Broker License
Policybazaar Insurance Brokers, a subsidiary of PB Fintech, has become a composite insurance broker after getting the final approval from IRDAI. This will allow the company to sell reinsurance products and expand its reach in the insurance sector. What is reinsurance and why is it important? Reinsurance is the practice of insurers transferring portions of […]
Google removes 10 Apps from Indian Play Store Over Fees
Google has taken down 10 popular Indian apps from its Play Store, including BharatMatrimony, Naukri, Truly Madly and Kuku FM, over a fee dispute that has been going on for more than three years. The US tech giant claims that these apps have violated its payment policies by avoiding fees ranging from 11% to 26% […]
Zakya by Zoho: Revolutionizing POS for Small Retailers
Zakya by Zoho is a modern retail POS solution that helps small and medium retailers in India sell better, manage their entire business, and join the digital revolution. Zakya offers a cloud-based and mobile-native platform that can be implemented in under an hour, supports multiple languages, and enables omnichannel sales through in-store, online, and mobile […]
Flipkart UPI Handle: A Leap in Digital Payments
Flipkart, India’s leading e-commerce platform, has launched its own UPI handle powered by Axis Bank for Android users. The handle, called “@fkaxis”, offers a convenient, secure and rewarding way to make payments, transfer funds and earn Supercoins. What is Flipkart UPI? Flipkart UPI is a payment service that allows users to create their own UPI […]
Paytm Fined ₹5.49 Crore by FIU
The Financial Intelligence Unit-India (FIU-IND) has imposed a penalty of ₹5.49 crore on Paytm Payments Bank Ltd (PPBL) for violating its obligations under the Prevention of Money Laundering Act (PMLA), the Ministry of Finance said in a release. This is the latest setback for the digital payments giant, which is also facing regulatory scrutiny from […]
EV Startup Vidyut Raised $10M by 3one4 Capital
Vidyut, an electric vehicle (EV) financing startup, has raised $10 million in its Series A round of funding, led by 3one4 Capital. The company plans to use the funds to expand its presence to 40 cities and offer a full-stack ecosystem for EV owners, including insurance, resale, servicing and maintenance. Vidyut was founded in 2021 […]
Paytm and Axis Bank to UPI Third-Party Route
Paytm and Axis Bank Partnership Paytm, India’s leading digital payments platform, and Axis Bank, one of the largest private sector banks in the country, are set to apply this week for the third-party application provider (TPAP) route for Unified Payments Interface (UPI), according to a report by Moneycontrol. The joint application will be submitted to […]
BYJU’S Secures $300M Investor Commitment in Rights Issue
BYJU’S, India’s leading edtech company, has received a commitment of $300 million from investors for its ongoing rights issue, which is expected to close by the end of February. The rights issue aims to raise $200 million at a valuation of $220-250 million, a steep drop from its peak valuation of $22 billion. What is […]