Zepto, the rapidly growing quick commerce company, has successfully raised $340 million in its latest follow-on financing round, propelling its valuation to a remarkable $5 billion. This funding round marks Zepto’s third major capital infusion within the past year, bringing its total capital raised in the last 12 months to over $1 billion.
The company initially aimed to secure $400 million but…
The 2024 Hurun India Rich List has set a new benchmark, featuring an unprecedented 1,539 individuals with net worths exceeding Rs 1,000 crore, highlighting a significant surge in the wealth of India’s elite. In a dramatic shift, Gautam Adani and his family have ascended to the top position on the list, surpassing Mukesh Ambani for the first time.
Adani Tops the List with Remarkable Growth
Gautam…
At the Global Fintech Festival 2024 in Mumbai on August 28, RBI Governor Shaktikanta Das introduced two groundbreaking digital payment initiatives from the National Payments Corporation of India (NPCI): Bharat BillPay (BBPS) for Business and UPI Circle. These initiatives aim to enhance the inclusivity, security, and efficiency of India’s digital payments ecosystem.
Bharat BillPay for…
At the Global Fintech Fest in Mumbai, Infosys co-founder and chairman Nandan Nilekani highlighted that startups leveraging India’s digital public infrastructure (DPI) are now valued at $100 billion. Nilekani emphasized that the development of Aadhar and the Unified Payments Interface (UPI) was designed to lay down foundational “rails” for private sector innovation.
“The estimated market…
PayMate, a leader in digital B2B payments in India, has announced a strategic partnership with NPCI Bharat BillPay Ltd. (NBBL) to unveil the PayMate BBPS-B2B platform. This innovative platform is set to transform the landscape of business transactions by streamlining invoicing, payments, and collections on a national scale. Targeting India’s vast network of 634 lakh MSMEs and 16.6 lakh…
Infosys co-founder and non-executive chairman Nandan Nilekani has highlighted the transformative impact of India’s digital public infrastructure (DPI) on the startup ecosystem, revealing that the value of startups built on this foundation exceeds $100 billion. Speaking at the Global Fintech Festival 2024, Nilekani emphasized the pivotal role that foundational technologies like the Unified…
Swiggy, the food delivery giant gearing up for its public markets debut, is reportedly in advanced talks to bring Amitesh Jha, the former Senior Vice President at Flipkart, on board as the new Chief Executive Officer of its rapidly expanding quick commerce segment, Instamart. This move indicates a significant reshuffle within the company’s leadership, with current Instamart head Phani Kishan…
Awfis Space Solutions, one of India’s leading providers of flexible workspaces, has recently made headlines with its significant corporate moves. On August 22, the company’s share price surged by over 15%, reaching a new peak of ₹909.75 per share on the National Stock Exchange (NSE). This notable rise comes in the wake of Awfis’s announcement regarding its expansion plans and a strategic…
IndiGo Co-Founder Rakesh Gangwal to Sell 3.8% Stake for Rs 7,100 Crore
Rakesh Gangwal, co-founder of India’s largest airline IndiGo, is poised to reduce his stake in the company further, with plans to divest approximately 3.8% of his holdings in InterGlobe Aviation, the parent company of IndiGo. This strategic move is valued at around Rs 7,100 crore ($8.5 billion) and is part of Gangwal’s…
In a bold expansion into the financial technology sector, Zoho Corporation has announced the launch of Zoho Payments, a new solution tailored to enhance business-to-business (B2B) transactions. The company, known for its suite of software as a service (SaaS) products, aims to streamline payment processes for businesses by integrating this new offering with its existing financial and operational…
