Gupshup becomes latest unicorn, raises $100 million

The current funding will be followed by a “second close with significant additional funds raised from more investors,” the company said in a statement. The firm plans to use the fresh funds to sca

Gupshup's last funding round was in 2011. The company claims to have exited 2020 with an annual revenue run rate of approximately $150 million.

‘RBI’s Fair Practices Code to help eradicate digital lenders acting as agents for non-registered NBFCs’

The guidelines and regulatory code of conduct will help create an environment reverberating with trust and transparency in the sphere of financial services via digital lending platforms.

Such concerns gained ground when the RBI let multiple bond auctions devolve on primary dealers.

All India Gem and Jewellery Domestic Council requests the Maharashtra CM to allow jewellers to operate in lockdown

Ease of Doing Business for MSMEs: The national body of the gems and jewellery industry GJC has written to the Chief Minister of Maharashtra Uddhav Thackeray to allow jewellers to operate on the festiv

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Amazon India’s MSME sellers so far: 2.5M cumulatively digitised, $3B worth exports, 1M jobs created

Ease of Doing Business for MSMEs: Amazon had announced plans in January last year to invest $1 billion for digitizing 10 million Indian MSMEs over the following five years. Amazon has more than 7 lakh

Amazon India

Strong growth in new seller addition in India despite pandemic: Amazon

Speaking to PTI, Amazon Global Senior Vice President and Country Head India Amit Agarwal said more than 2.5 lakh new sellers have joined since last year, and that the rate at which sellers have come o

Asked about allegations that only a few large sellers  especially those where Amazon has invested  are doing well, Agarwal said the facts speak of a very different reality.

Relief for OYO subsidiary in ‘bankruptcy’ case as NCLAT stays insolvency proceeding

"OHHPL appealed the order in front of NCLAT and explained that a demand draft of INR 16L was issued to the claimant under protest and the claimant has willingly banked the DD," OYO said.

MSME lender U GRO Capital eyes Rs 20,000 crore AUM by 2025 to address small business credit gap

Credit and Finance for MSMEs: U GRO is looking to acquire a 1 per cent market share of the SME lending market by 2025 which translates to around Rs 20,000-crore asset under management.

ShareChat raises USD 502 mn from Snap, Twitter, others

ShareChat on Thursday said it has raised USD 502 million (about Rs 3,725 crore) in funding led by Lightspeed Venture Partners and Tiger Global, valuing the homegrown social media platform at over USD


Unpaid dues: Oyo moves NCLAT against insolvency order

The order for initiating the insolvency resolution process was passed by the Ahmedabad bench of NCLT on April 1, on an application filed by an operational creditor over non-payment of dues amounting t

“The creditors of Oyo Hotels and Homes are hereby called upon to submit their claims before April 15 to the interim resolution professional,” an April 3 order of the interim resolution professional, Keyur Jagdishbhai Shah, stated.

Groww becomes the latest unicorn with fresh $83 m funding

“Only around 25 million people in India are investing in stocks or mutual funds. We will continue working to change this. The new capital will help us invest in new products, acquire talent and cont

The company will deploy the fresh funds to expand its range of products besides apportioning a good amount of money towards introducing financial education content.

Vilcart to raise Rs 50 crore institutional funding soon; to connect 10 lakh rural kirana stores

E-commerce startup Vilcart on Wednesday said it will raise Rs 50 crore institutional funding in next couple of months for expanding its business in South India.

Raining unicorns: E-pharmacy sector churns out first unicorn; PharmEasy hits milestone with 350M funding

PharmEasy is the seventh unicorn of 2021 after Infra.Market, Five Star Finance, Meesho, Digit Insurance, Innovaccer, and Cred hit the milestone earlier this year. The healthtech sector witnessed its m

"As soon as the markets started reopening in October 2020, after the lockdown, e-pharmacies like PharmEasy and Medlife indulged in deep discounting on their platforms by giving a flat discount of 30 per cent," it said in the letter to Goyal.

PM Modi’s Mudra Yojana: Number of sanctioned loans drops for first time in FY21 since launch of scheme

Credit and Finance for MSMEs: The loan amount disbursed under the PMMY scheme declined from Rs 3.29 lakh in FY20 to Rs 2.64 lakh as of March 26, 2021, in the recently concluded FY21.

Did OYO file for bankruptcy? No. Fact Check: NCLT admits insolvency plea, company challenges order

The NCLT had admitted the insolvency plea on March 30, 2021, filed by its creditor Rakesh Yadav contending that OHHPL defaulted for an amount of Rs 16 lakh.

Walmart’s Flipkart is said to aim for IPO in fourth quarter; valuation may top $35 billion

Flipkart had explored going public through a blank-check company to speed up the listing process, but that route is not under consideration now, one of the people said. The startup’s valuation cou


PayPal enables collateral-free loans up to Rs 1 cr for MSMEs, others via small business lender FlexiLoans

Credit and Finance for MSMEs: The interest rates will begin at 1 per cent per month with tenure up to 36 months based on the credit rating of borrowers. Currently, loans are available to 10,000 PayPal


Pre-pack is ‘liquidation-remote resolution mechanism’, says IBBI chief

The pre-pack framework for stressed assets under the insolvency law is a "liquidation-remote resolution mechanism" and will also help in avoiding protracted legal battles as there will already be a br


Kunal Shah’s Cred turns unicorn in less than three years; valuation slingshots nearly 3X to $2.2 billion

Along with the new investment, Cred also announced that it will offer employees another ESOP buyback opportunity with a cumulative value of $5 million.

TReDS platform RXIL discounts receivables worth Rs 1,000 crore in a month

Credit and Finance for MSMEs: From transactions worth Rs 69 crores in April 2020, RXIL reached a whopping Rs 1,105 crore in March 2021.

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Small business lender Lendingkart raises new debt funding to disburse loans to 5,000 MSMEs via NBFC arm

Credit and Finance for MSMEs: Lendingkart, which has disbursed over 1 lakh loans to more than 91,000 MSMEs so far through its NBFC arm, will deploy the capital towards expanding the reach of its finan

“Moratorium has delayed the stress in these segments where delinquencies have not yet stabilised, and higher loan losses are expected to materialise in FY22,” the agency said in a report.

Dhoni becomes shareholder in F&B start-up that launches helicopter shot-inspired chocolates

Budding cricketers are not the only ones getting inspired by Mahendra Singh Dhoni's iconic helicopter shot as it has now become the inspiration for artisanal chocolates launched on Tuesday by food and

mahendra singh

Biggest deal in Edtech sector! Byju’s to acquire Aakash Educational Services for $1 billion

In the biggest deal in the edtech sector so far, the country’s most valued online education firm, Byju’s is acquiring Blackstone Group-backed Aakash Educational Services (AESL) for an estimated $1

Served Hot: Swiggy raises $800 million at about $5-billion valuation

Online food delivery platform, Swiggy has closed a fresh $800-million funding round backed by new and existing investors, co-founder and chief executive officer Sriharsha Majety said in an internal ma

New unicorn: Meesho raises fresh $300 m in funding led by SoftBank fund

Social commerce start-up Meesho on Monday said it has raised a fresh $300 million in funding led by SoftBank Vision Fund 2. The investment marks the company’s entry into the unicorn club, valuing it


Pre-packaged insolvency process under Indian bankruptcy code is positive but limited in its scope, feel experts

Ease of Doing Business for MSMEs: The Centre has introduced an ordinance for a pre-packaged insolvency resolution process under the IBC Code for the MSMEs that got badly hit due to the Covid-19 pandem

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Swiggy gets $800M at nearly $5B valuation in latest fundraising from Goldman Sachs, Falcon Edge, others

The fresh investment in Swiggy has come from a new set of investors including Falcon Edge Capital, Amansa Capital, Think Investments, Carmignac, and Goldman Sachs along with existing investors Prosus

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