Vinay Choletti

It is with a heavy heart and mixed emotions that I share some significant news today about Minko In FY2023-24, our B2B BNPL/Supply Chain Financing Product at Minko was acquired by a prominent fintech company operating in a similar domain in India for an undisclosed amount. Due to a non-disclosure agreement, we can't reveal the name of the acquiring company, but we are proud to announce this milestone. Our delay in announcing this news stems from our recent involvement in the wind-down processes at Minko, including the transition and knowledge transfer phase for our product. This announcement marks the end of an exciting and transformative journey of us in the B2B BNPL/ Supply Chain Financing Product for small businesses in India. Our story is one of the vision, innovation, and relentless pursuit of creating groundbreaking solutions for the underserved markets. We started Minko with an ambition to revolutionise financial inclusion for small businesses with access to seamless credit. With your unwavering support, we were able to turn our vision into reality, developing a product that significantly impacted many lives and businesses. Your belief in us has been the cornerstone of our progress, taking us from a mere idea to a tangible solution that facilitated seamless credit for thousands of small businesses. Yet, the recent regulatory challenges in the fintech sector, particularly for those without specific regulatory licenses, have presented significant hurdles. We acknowledge that this news may evoke feelings of loss and uncertainty, and we share these sentiments. However, it is in these challenging times that our resilience and determination shine through. These circumstances have led us to make the difficult decision to wind down our beloved startup and transfer the product stack we've built over the years. We take immense pride in knowing that our product stack will continue to thrive under new ownership. We are confident that it will continue to process significant transactions and further financial inclusion in India. It is our hope that this legacy will continue to empower small businesses and foster growth in the sector. To each and every supporter, customer, investor, team member, partner, and stakeholder, we extend our deepest gratitude. Your trust and support have been invaluable, and we are forever grateful for the faith you placed in us. You have been an integral part of our journey, and we couldn't have reached this point without you. As for me and my Co-founder Sanmati Shendure, we are taking this moment to reflect and pursue our personal interests. Rest assured, our entrepreneurial spirit remains undiminished. We will be back, sooner or later, with a new mission and initiatives driven by the same passion to build something significant for a cause. Thank you for being a part of our journey. 🙏

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Sameer Nigam, the CEO and Founder of PhonePe, has carved a remarkable path in the digital payments ecosystem in India. Born in Delhi and raised in a family of accomplished professionals, Sameer’s journey reflects a blend of education, innovation, and entrepreneurial spirit. After completing his schooling at DPS Noida, he pursued Computer Engineering at the University of Mumbai and later obtained a Master of Science in Computer Engineering from the University of Arizona. He also holds an MBA in Entrepreneurship from The Wharton School, University of Pennsylvania. Sameer began his professional journey at Shopzilla, where he served as Director of Search Product Development. In 2009, he launched his first venture, Mime360, an online media distribution platform, which was later acquired by Flipkart. Following the acquisition, Sameer joined Flipkart, where he contributed as Vice President and Senior Vice President across marketing and engineering divisions, honing his expertise in the e-commerce sector. In 2015, Sameer co-founded PhonePe, a Unified Payments Interface (UPI)-based platform, alongside Rahul Chari and Burzin Engineer. The application, which went live in 2016, has transformed digital payments in India with support for over 11 Indian languages. Its early success was bolstered by the demonetization wave, propelling PhonePe to become one of the leading players in the fintech space. The platform gained further momentum after its acquisition by Flipkart, and subsequently, Walmart’s acquisition of Flipkart in 2018. Despite controversies, including a recent backlash over comments on Karnataka's job reservation bill, Sameer Nigam remains a key figure in driving innovation at PhonePe. His leadership has not only enhanced PhonePe’s financial performance but also positioned it as a pivotal player in shaping India’s digital economy. #SameerNigam #PhonePe #Fintech #Entrepreneurship #DigitalPayments #Mime360 #Flipkart #StartupSuccess #TechInnovation #IndiaTech #cxolanes

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Fintech giant Paytm hinted at potential layoffs and said it would trim non-core assets after reporting a wider loss in the fiscal year 2023-24 (FY24) and a drop in revenue in Q4FY24, owing to RBI’s action on the Paytm Payments Bank. “Led by capabilities of AI and focussing on core business, we are also working on significant cost efficiencies including leaner organisation structure,” founder and CEO Vijay Shekhar Sharma said in the Q4 shareholder letter. Paytm reported a 3X year-on-year jump in its net loss at INR 550 Cr in Q4 FY24, as compared to INR 167.5 Cr in the year-ago period. Meanwhile, revenue from operations also dropped 2.9% YoY to INR 2,267.10 Cr as against INR 2,334 Cr in the same period last year. Sharma highlighted that Paytm’s employee costs have surged in recent years due to investments in technology, merchants sales and financial services. Beyond this, the company has outlined its key focus areas in the immediate future as it looks to bounce back in FY25.

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Our team at NiVa did a ground level survey with appx 800+ merchants across Pune , Delhi-NCR and Bangalore for various payment apps and in one of our insights about various payments apps we can see Paytm winning with huge margins across various metrics After reviewing the data , it's clear that Paytm is leading across all categories compared to other digital payment platforms like PhonePe, Cred, Google Pay, and Bharatpe. Fast Payments: Paytm has the highest bar with 85.7%, indicating it is the most preferred option for fast payments. Less Fraud: Paytm also tops the chart with 82.9% for being perceived as the most secure and fraud-resistant payment method. Service: In terms of customer service and support 88.6% , Paytm is ranked the highest by users. Less Fees: Paytm is considered the most affordable option with 48.6% with the lowest transaction fees. Multiple Payment Options: Paytm offers the widest range of payment choices with 88.6%, catering to diverse user preferences. The data unambiguously shows that Paytm outperforms its competitors across all the factors analyzed, including speed, security, service, affordability, and payment flexibility. It emerges as the dominant player in the digital payments space based on this comprehensive user preference study. This remarkable dominance holds valuable lessons for other players, including the up-and-coming NiVa platform. Firstly, prioritizing user experience is paramount – Paytm's seamless interface and rapid payment processing have struck a chord with consumers. Secondly, engendering trust through robust security measures and fraud prevention is non-negotiable in the fintech realm. Furthermore, Paytm's commitment to customer support and reasonable pricing has cultivated loyalty, underscoring the importance of putting users first. Lastly, offering a diverse range of payment options caters to varied preferences, expanding the user base. As NiVa aims to carve its niche, emulating Paytm's user-centric approach, technological prowess, and innovation in areas like security and payment diversity could be game-changers. In the fiercely competitive digital payments arena, learning from the industry leader may pave the way for NiVa's success. Vijay Shekhar Sharma Kudos to you and your team at PayTm !! #paytmkaro #fintech

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FinTalks: The National Payments Corporation Of India (NPCI) has introduced a new ‘UPI Circle’ feature on its Unified Payments Interface (UPI) platform. This feature allows primary UPI account holders to delegate payment responsibilities to trusted secondary users securely. UPI Circle-Delegate Payments is a feature where a UPI user acts as a primary link with their trusted secondary users on their UPI App for either partial or complete delegation. Delegated Payments would allow an individual (primary user) to set a UPI transaction limit for another individual (secondary user) on the primary user’s bank account. This product is expected to expand the reach and usage of digital payments across the country. Detailed instructions will be issued shortly. How do UPI Circle delegate payments work?   📍 Primary User: The account holder initiates the Circle and controls the delegation.   📍 Secondary User: A trusted individual granted partial or full access to the account to make payments.   UPI Circle enables two types of delegation:   📍 Full Delegation: The primary user authorises the secondary user to initiate and complete transactions within predefined spending limits without requiring further approval.   📍 Partial Delegation: The secondary user can initiate transactions, but the primary user must authenticate and finalise the payment using their UPI PIN.   Members are required to ensure the below guidelines are followed:   📍 UPI apps and PSP offer independent user journeys for Primary and Secondary users. Users shall have their own choice of UPI app.   📍 UPI apps shall ensure that app passcodes/biometrics (finger/face) are mandatory for all secondary users. For linking, the primary user shall scan the QR code and enter the UPI ID, followed by selecting a contact number from the contact list. In the later phase, primary users shall be able to link with secondary users in lieu of a QR code scan by selecting a contact number from the contact list only. A primary user can delegate up to 5 secondary users, and a secondary user can accept delegation from only one primary user. Members shall ensure that the primary authorises the secondary user on full or partial delegation.   Members shall ensure limited control is available for the primary to set usage controls over their secondary users. For the entire delegation, members shall provide a maximum monthly limit of ~15,000 per delegation and a maximum per transaction limit of ~5000.   Existing UPI limits shall be applicable in case of partial delegation. Members shall ensure that during the cooling period - first 24 hours, a daily transaction limit of ~5000 shall be prescribed after successfully linking primary and secondary users for both full and partial delegation. #fintalks #upi #delegatepayments #seamlesstransactions #qr #tsp

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Pine Labs is one of India’s most prominent fintechs and with its focus on B2B payments – and avoidance of the retail segment – eschews many of the problems that have dogged Paytm. Pine Labs serves over 500,000 merchants – including Sony, BMW and Samsung – to which it provides solutions for payments and other financial services. In 2022, it reportedly filed confidentially for an IPO with the U.S. Securities and Exchange Commission, but that plan never came to fruition given weak market sentiment. Now Pine Labs has resumed its IPO plans, but this time it is planning to list at home in India. According to a June 21 Bloomberg report, Pine Labs may try to raise about US$1 billion at a valuation of more than US$6 billion. The company could issue both new and secondary shares, as well as do a pre-IPO fundraising round ahead of any listing. We reckon Pine Labs is restarting its IPO process for several reasons. First, there is growing investor appetite for Indian stocks. In Nov. 2023, the market value of companies listed on India’s exchanges surpassed US$4 trillion, according to Refinitiv. That means it ranks No. 4 in value globally behind the U.S., China and Japan. Long-term investors have an increasing interest in Indian equities, which is a shift from the past when Indian stocks attracted more short-term investors. Bloomberg data show that about US$7 billion has been raised via IPOs in India this year, more than thrice the volume from the same period in 2023. That’s turned the subcontinent into one of the hottest markets for share sales globally. Second, Pine Labs has managed to grow in private markets during a time of greater investor scrutiny than many of the unicorns that went public when interest rates were low and VC funding flowed freely. Both Invesco and Baron Funds have recently raised Pine Labs’ valuation, the former to US$4.8 billion in Dec. 2023 and the latter to US$5.8 billion in April. #india #pinelabs #fintech #payments #ipo #capitalmarkets #stockmarket https://hubs.li/Q02DhXKN0

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A͏he͏ad of its initial public offering (IPO), f͏oodtech giant Swiggy's early backers are reportedly selling shares,͏ partially͏ diluting͏ ͏their stakes in the company. These shares are being acquired by new investors who ar͏e bullish on the foodtech giant's prospect͏s for growth. Prosus Group, Accel, and Elevation Capital are among the early inves͏tors who ar͏e set to sell their shares in Swiggy.͏ We͏alt͏h management service provider͏s like 360 ONE, along with͏ several͏ ͏high net-wo͏rth individua͏ls (HNIs) and others, are also ac͏qu͏iring stakes in the company. Read full story here: https://lnkd.in/gPxq2Qrr #foodtech #fooddelivery #swiggy #ipo #shares #startups #foodindustry Ashu Agrawal

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UPI coming full circle with “UPI Circle “ delegated payment mechanism for the family and Household expenses it’s time each Indian has UPI account to meet their daily needs .. huge opportunity for fintechs to build products on this ! UPI will hit 500 users with 2-3 times of that as circle ⭕️ users , ONDC, UPI circle would make India proving that they can build Amazon with best payment method covering lowest economic and small expenses needs for Indians ! UPI best tool for financial inclusion creating financial translations behaviour digital footprints for possible credit inclusion at next level ! Way to go UPI - India 🇮🇳

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Revolutionizing groceries with BNPL! 💳 QWIPO's Buy Now, Pay Later is transforming the way retailers and consumers in Telangana and Andhra Pradesh experience grocery shopping. With QWIPO, retailers can enjoy seamless supply chain management, while consumers can flexibly manage their living expenses by buying larger quantities of groceries. Join the revolution and experience the future of grocery shopping with QWIPO! 🚀🛒 #BNPL #GroceryRevolution #QWIPO

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Govt business is the best business , govt is 40-50% partner in each enterprise even if you make loss as start up and Private business ! NCPI, CSC, are most profitable organisations , while they are tasked to do financial inclusion, imagine VC funded and listed companies payment companesies are not allowed to make money out of UPI and UPI brings profits to govt ! Debatable .. which is public and which is private for profit business ?

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Venture capitalists and BizDateUp co-founders Jeet Chandan and Meet Jain have acquired an undisclosed stake in IPO-bound foodtech giant Swiggy through an off-market secondary deal. Founded in 2020, BizDateUp allows angel investors to invest in Indian startups with a minimum of INR 1 lakh and recently launched a INR 200 crore fund for technology investments. The firm raised over $10 million from more than 1,000 angel investors in FY24. This move comes as several celebrities, including cricketers Rahul Dravid and Zaheer Khan, tennis player Rohan Bopanna, director Karan Johar, and actor Ashish Chowdhry, have also invested in Swiggy ahead of its IPO. Notably, Amitabh Bachchan and Madhuri Dixit have previously acquired stakes in the company. Read full story here: https://lnkd.in/gM8sEWSZ #foodtech #startups #ipo #swiggy #foodindustry #news #latestnews LinkedIn News India Linkedin News Ashu Agrawal

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National Payments Corporation of India (NPCI) is in the process of spinning off Bharat Interface for Money (BHIM) into a subsidiary as the home-grown payments application looks to expand its presence in the country. BHIM’s share in the market remains minimal, with just 22.72 million transactions conducted via the app in June. This accounted for just 0.16 per cent of the overall UPI volumes. Therefore, the NPCI is taking up this decision in an attempt to reduce the reliance on foreign players in the market and strengthen the domestic brand. National Payments Corporation Of India (NPCI) Lalitha Nataraj Dilip Asbe Prasanna Lohar Google Pay ‌PhonePay Paytm #npci #upi #digitalpayments #india https://lnkd.in/di2A67k4

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🚀 Crafting a Winning Product Management Strategy: The Meesho Approach 🛍️ In the rapidly evolving e-commerce landscape, Meesho has distinguished itself as a leading platform for small businesses and entrepreneurs. Here’s a breakdown of the strategies that have propelled its impressive growth: 🎯 Market Positioning Meesho effectively targets small retailers and individual entrepreneurs, empowering them to start and grow their businesses with minimal investment. This focus on the unorganized retail sector has allowed Meesho to tap into a vast and underserved market.  🌟 Differentiation In a competitive e-commerce environment, Meesho has carved out a unique space: - Social Commerce Model: Leveraging social media for sales, Meesho enables users to share products with their networks, enhancing visibility and sales potential. - Affordable Solutions: By providing a platform with no upfront costs, Meesho supports entrepreneurs in launching their businesses without financial barriers.  📈 Product Development Meesho continuously expands its product offerings, catering to diverse consumer needs. The platform’s user-friendly interface and robust support systems foster loyalty among sellers and buyers alike.  📣 Marketing Strategy Meesho is not just an e-commerce platform; it’s a community: - Influencer Collaborations: Partnering with micro-influencers to reach niche audiences effectively. - Educational Content: Offering resources and training for sellers to enhance their skills and business acumen.  🌍 Future Growth Opportunities To maintain its trajectory, Meesho should focus on: - Technological Innovation: Investing in AI and data analytics to personalize user experiences. - Expanding Internationally: Exploring markets beyond India to unlock new growth avenues. Meesho’s journey exemplifies the power of strategic positioning, community engagement, and a deep understanding of consumer needs. As they continue to innovate, the future looks promising! ✨ #ProductManagement #Meesho #EcommerceStrategy #SocialCommerce #Entrepreneurship #GrowthMindset

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What went into building one of India’s leading #UPI payments app and how did it transform India’s payment landscape? Get ready for a compelling conversation between Karan Marwah, KPMG India and Shashvat Nakrani, Founder and COO, BharatPe as he shares his entrepreneurial journey, challenges, and the future of fintech! Stay tuned for this exclusive episode! Naveen Aggarwal | Sidharth Tewari #FintechTalks #DigitalPayments #PaymentSolutions #FintechFuture #podcast #startupspeakeasy #honestconversations #realstories #emerginggiants #startupIndia

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Heartening to see Leading Lender having its Top Executives encourage taking a seat on boards of Industry parallel firms. This really helps develop an ecosystem where Country's finest executives's leverage helps in evolution and vice versa it just Strengthens one of the strongest financial services Firm. #startup #ecosystem #kotak #leadership

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