Deepak kumhar

Bengaluru-based AppsForBharat, which runs spiritual tech platform Sri Mandir, has secured $18 Mn (around INR 151.1 Cr) in a Series B funding round led by Nandan Nilekani’s VC fund Fundamentum 👇 AppsForBharat plans to use the fresh funds to scale up operations of its Sri Mandir app, onboard new temples, launch additional services and build a comprehensive tech stack for devotional ecosystem. Prior to this, the spiritual tech startup raised $14 Mn in total funding, with $10 Mn and $4 Mn in Series A and seed funding rounds, respectively. Prashant Sachan, founder and CEO of AppsForBharat, said, “Our vision is to transform Sri Mandir into an end-to-end digital tech platform that caters to every aspect of the devotional journey.” To read the in-depth article, click here: https://lnkd.in/gVg2QcUv #news #expansion #fundraising #startup

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Fintech SaaS startup Perfios posted a 819.2% year-on-year jump in its consolidated net profit at INR 71.7 Cr in the financial year 2023-24 (FY24) on the back of a healthy growth in its topline and higher margins👇 As Inc42 reported earlier, the company turned profitable in FY23, logging a consolidated net profit of INR 7.8 Cr. Revenue from operations jumped 37.1% to INR 557.8 Cr during the year under review from INR 406.8 Cr in FY23. Including other income of INR 11.7 Cr, Perfios generated total revenue of INR 569.5 Cr in the fiscal year ended March 31, 2024. Founded in 2008 by V.R Govindarajan and Debasish Chakraborty, Perfios provides software solutions to financial institutions for credit decisioning, analytics, onboarding automation, due diligence, among others. 🔗To read the in-depth article, click here: https://4-2.co/4itDSKI #news #fintech #SaaS #startup #Perfios #revenue

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Vijay Shekhar Sharma is once again taking charge of Paytm in a big way amid a major restructuring move at the fintech giant. The founder and CEO is expected to work directly with new leadership being put in place for key verticals as existing business heads and vertical heads are stepping away 👇 The changes come as Paytm faces an unprecedented attrition of top leadership. Adding to the recent spate of exits, Inc42 has learnt that chief business officers for three different verticals were asked to exit the company and resign from their positions over the past week. Sources claim that Ajay Vikram Singh (CBO of user growth and UPI), Bipin Kaul (CBO of the offline payments business) and Sandeepan Kashyap (chief business officer of the consumer payments vertical) have all quit their positions. To read more in detail, click here: https://lnkd.in/g4YeDYxu #paytm #fintech #leadership

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Fintech startup Dexif, led by former Blinkit senior executive Deepank Bhandari, secures $4M seed funding from RTP Global. Funds to bolster tech stack, expand operations, and enhance talent pool. Platform enables trading in fixed-income securities and capital raising for companies. Revenue generated via fees from companies and investors. Pending regulatory licenses to operate in bond trading market. Vision to democratize fixed-income market, aiming for further innovation and scalability. Co-founder Bhandari: "Fundraise fuels our mission to unlock India's fixed-income market potential." Gross transaction volume: Nearly INR 300 Cr per month. Exciting times ahead for Dexif amidst the booming fixed-income securities market in India! #Dexif #Fintech #SeedFunding #Innovation #FixedIncome #MarketPotential https://lnkd.in/gGajtBjc

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CHANNELIAM FUNDING TRACKER RECENT UPDATES: 1. #Wealthtech startup Dezerv raises $32 Mn in Series B 2. GOAT Brand Labs raises $21 Mn in debt and equity 3. Felicity Games raises $700K from DeVC, Nandan Reddy, Kunal Shah and others 4. Qarmatek Services Private Limited raises $1 Mn in pre-Series A round 5. Centriti raises Rs 6 crore in funding round led by Emergent Ventures India 6. Prosus Group to lead $100 million funding in BlueStone 7. #Recycling startup Ricron Panels bags Series A funding from Boon Sustainability, Others

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Infra.Market Plans Funding Of Up To $200 Mn At Higher Valuation Funding Round: Infra.Market is considering raising $150-200 Mn in a fresh funding round, with existing investors like Tiger Global Management and Foundamental leading the investment. Valuation: The valuation for the new round is still under discussion, but is expected to be higher than $2.5 Bn, driven by improved financials. IPO Plans: The company plans to file its draft IPO papers in December, after closing the funding round, with eight investment banks already lined up to helm the $700 Mn IPO. Business Performance: Infra.Market reported an operating revenue of INR 11,846.5 Cr in FY23, a 90% increase from the previous year, but net profit declined 17% to INR 155.2 Cr. Market Context: The funding round and IPO plans come amidst a fertile season for IPOs in India, with several startups like Swiggy, Ecom Express Limited, and Smartworks also eyeing market debuts in the coming months. Read More: https://lnkd.in/gnhmviaG

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🚨 PayU India's PA license helps it post $237M revenue in H1 FY25, even as margins shrink Prosus Group-owned PayU India achieved 12% YoY revenue growth in H1 FY25, raking in $237M. Boosted by a 25% rise in payment volumes, this surge follows its RBI approval as a payment aggregator. The fintech onboarded over 4,000 merchants in H1, fueling expansion in ecommerce, financial services, and government sectors. 💳📈 Its credit arm thrived too—revenue soared 91% YoY, with $592M in loan disbursements. Despite tight margins, PayU is eyeing long-term fintech growth with tech investments and strategic partnerships. 🌟 Read more at: https://lnkd.in/gd6TCeYw By Sayan Sen #Fintech #PayU #GrowthStory #Ecommerce

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Pelocal Fintech Private Limited, a leading payment solution provider within WhatsApp, has raised $2 million seed funding led by Unicorn India Ventures. The funds will support expansion, improvements, and accelerate large-scale project deployment. In the last year, PeLocal's monthly payment transactions increased from 500K to 3M. Aiming to achieve 10M monthly transactions on WhatsApp within a year, the company plans to introduce a Marketing Catalogue and an SMB payments platform on the app. Founded in 2021 by Vivekanand Tripathi, PeLocal specializes in secure, end-to-end solutions using advanced communication channels and has successfully integrated payment platforms on Meta for smooth transactions with clients like Delhi Metro, Indraprastha Gas, and Mahanagar Gas. The firm is also trusted by multiple insurance companies for handling premium payments. PeLocal FinTech Private Limited is a financial technology company that was established on February 3, 2021, in Chennai. Their primary goal is to simplify the lives of merchants by offering them a platform where they can efficiently manage their customers, send requests for payments, and even set up reminders for customers to make their payments. With PeLocal's services, merchants can enjoy a seamless digital payment experience from any location. By automating payment collection through PeLocal, businesses can effectively manage their revenues on the move. Factacy.ai Congratulates and wishes them well. #innovation #management #digitalmarketing #technology #creativity #futurism #startups

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India’s digital lending market is growing with 4X speed to hit $ 1.3 Trillion by 2030. With Lending Tech capturing 60% of this overall fintech market, let's understand how new-age Fintechs are transforming end-to-end digital lending in India. From hyper customization to embedded lending right up till the implementation of straight-through processes and underwriting innovations, FinTechs are ensuring speed, agility, and transformation in the end-to-end lending journeys. At CredAble, we're pioneering next-generation credit decisions, ensuring a seamless digital journey from origination to servicing. Ready to join the revolution? 𝐕𝐢𝐬𝐢𝐭 𝐮𝐬 𝐭𝐨𝐝𝐚𝐲: https://bit.ly/3W1iSlS #FinTech #DigitalLending #FinanceRevolution #CredAble #IndiaFinance

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ZEPIC, Inc., a SaaS-based customer experience firm, has secured $2.1 million (INR 17.5 crore) in pre-seed #capital from Neon Fund and other angel investors who hold prominent positions at Apple, Chargebee, Freshworks, Microsoft, and Zoho. Neon Fund had offered $500K to the round. ZEPIC intends to expand its market presence in the US and other regions and strengthen its AI offerings with the #additional funding. Out-of-the-box connectors and no-code philosophy throughout ZEPIC will allow for rapid integration with existing #customer management tools to present the best possible 360 degree view of the customer. ZEPIC, which was cofounded in 2023 by Sunil Kumar Somarajan Pillai, Bharathi Kannan Ravikumar, Naveen Venkat, and Sreelesh Pillai, assists companies in providing excellent customer experiences across #channels and platforms. Siddhartha Ahluwalia To share your startup story write us on - [email protected] #zepic #neon #startup #funding

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Tata-owned BigBasket was late to the quick commerce party, belatedly launching its quick commerce offering BBnow in April 2022. Even then, it wasn’t convinced about the staying power of quick commerce. In mid-2022, BigBasket CEO Hari Menon said that 80% of the business would continue to come from its slotted delivery service.    Cut to 2024, and it appears BB may have misread the tea leaves. The bullishness around quick commerce is stronger than ever before. In fact, according to one BigBasket executive and a Tata Digital executive, BigBasket has lost e-grocery market share to quick commerce players.

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FinTech Funding March 2024: Total $591 mn raised by Indian Fintechs While there has been a funding winter in fintechs and tech startups over the past year, funding has seen an uprise in early stage deal funding and decline in late stage deals funding. FinTech funding has witnessed a significant uptick in the amount raised in the month of March, compared to the previous month. Story by Anushka Sengupta Read more at: https://lnkd.in/gQxScPap #FinTechs #FinTechFunding #fundingwinter #startups #march2024

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Centricity WealthTech, a Gurugram-based wealthtech startup, has raised $20 million in a seed round led by Lightspeed, along with backing from Paramark VC, Burman Family Office, and angel investors including Ritesh Agarwal and MS Dhoni’s family office. The funding, which catapulted Centricity’s valuation to $125 million, will be used to expand its platforms, Invictus and One Digital, by doubling its tech team and enhancing AI-driven solutions. Founded in 2022, Centricity empowers financial advisors through plug-and-play solutions, driving efficiency for financial distributors and single-family offices in the growing wealthtech space. #CentricityWealthTech #CentricitySeedFunding #WealthTechInnovation #LightspeedInvestment #AIinFinance #TechDrivenWealthManagement #EmpoweringFinancialAdvisors #CentricityGrowth #FutureOfWealthTech #StartUpIndiaSummit2024 #EPNews

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