Chaitanya Suvanam’s Post

IDFC FIRST Bank Launches "FIRST WINGS" Start-up Lounge to Empower Indian Start-ups Key Highlights: - IDFC FIRST Bank has launched "FIRST WINGS", a dedicated start-up lounge to support and empower Indian start-ups. - The lounge aims to provide a collaborative ecosystem for start-ups to connect, learn, and grow. - FIRST WINGS offers various amenities, including co-working spaces, meeting rooms, and networking opportunities. - The lounge also provides access to IDFC FIRST Bank's expertise, mentorship, and funding opportunities. This initiative by IDFC FIRST Bank demonstrates its commitment to supporting the growth and development of Indian start-ups. several initiatives to support start-ups in India: 1. FIRST WINGS: A dedicated start-up lounge providing co-working spaces, meeting rooms, and networking opportunities. 2. FIRST STEP: A current account designed specifically for start-ups, offering zero balance requirements, unlimited transactions, and a dedicated relationship manager. 3. FIRST GROW: A term loan facility for start-ups, providing access to funds for growth and expansion. 4. FIRST ACCELERATE: A partnership with leading accelerators and incubators to provide start-ups with mentorship, networking opportunities, and access to funding. 5. FIRST INNOVATE: A program to support innovation and R&D in start-ups, providing access to funding, mentorship, and industry expertise. https://lnkd.in/dP-SSPWb #IDFCFIRSTBank #StartUpIndia #IndianStartUps #FintechIndia #BankingAndFinance #StartUpSupport #Entrepreneurship #BusinessGrowth #InnovationInFinance #DigitalBanking

#EveningUpdates: 1. Rural lending startup SarvaGram raises $67 Mn led by Peak XV Partners 2. Reliance Industries Limited, Viacom18 Media Private Limited, Disney Star complete Star India merger with Rs 11,500 Cr investment 3. Matrimony.com Limited launches fintech platform for marriage loans 4. Mamaearth-parent Honasa posts Rs 462 Cr revenue in Q2 FY25; slips into losses 5. OnePlay appoints Akshat Rathee as investor, advisor 6. Dronetech startup Airbound raises $1.7 Mn in seed capital 7. Kuku FM Fires 100 Employees To Cut Costs 8. FirstCry.com (BrainBees Solutions Ltd.) parent’s revenue grows 26% in Q2 FY25; controls losses 9. IDFC FIRST Bank opens startup lounge in Bengaluru 10. GIFT City launches International Fintech Institute and Fintech Incubator and Accelerator 11. OnePlay Ropes In NODWIN Gaming’s Cofounder As Investor 12. InsuranceDekho revenue soars 7.7X in FY24, posts Rs 86 Cr profit 13. UNESCO, MeitY partner to assess gaps in ethical AI use in India 14. Snapchat unveils location-sharing features to safeguard teen users Read more at: https://bit.ly/3YGwTVG

This is my 100 Day challenge (04/100) daily posting stories about Startup , entrepreneurship, Human psychology etc, Today we are posting storie about how credit based startup growing in india "The Rapid Growth of Credit-Based Startups in India " The credit-based startup sector in India, particularly in the fintech space, is experiencing phenomenal growth. Non-Banking Financial Companies (NBFCs) and app-based credit platforms are expanding rapidly, becoming a hot topic in the industry. Bangalore, often referred to as the Silicon Valley of India, has emerged as the epicenter for these fintech startups. The city's vibrant ecosystem has attracted significant funding, enabling many of these companies to achieve staggering growth rates, sometimes as high as fifty percent or even one hundred times their original size. This surge is largely driven by the absence of similar solutions in the past. Previously, individuals seeking credit had limited options, often relying solely on traditional banks. Today, these innovative platforms have democratized access to credit, making it easier and more convenient for people across the country to borrow money. According to a recent report of "Indus vallyreport 2024", the fintech sector is witnessing a significant surge, with credit-based companies leading the charge. The report highlights that these companies are experiencing rapid growth, outpacing many other segments within fintech. As we witness this transformation, it's clear that credit-based startups are not only reshaping the fintech landscape in India but also playing a crucial role in the broader financial inclusion movement.

Axis Bank's New Economy Group (NEG) is empowering startups in India by catering to their unique banking needs and helping them navigate their growth journeys. In a recent conversation with Ritu Singh from CNBC TV18, Sanjiv Bhatia, President & Head of New Economy Group (NEG), Financial Sponsors and Multinationals Coverage, Axis Bank, shared insights into the bank's approach to supporting startups. The bank's commitment to startups is evident in its portfolio of over 700 Series A startups, with plans to expand to 1200 in the next couple of years. Sanjiv highlighted the thorough models employed leveraged by the NEG team of Axis Bank to identify startups for support and his the bank’s enthusiasm for sectors such as Fintech, AgriTech, and Ecommerce, amongst others. From providing access to capital to offering expert guidance, Axis Bank is poised to play a significant role in shaping India’s startup landscape. Watch the full interview to learn more about Axis Bank’s New Economy Group and its efforts to drive growth in the Indian startup ecosystem. Link to the interview: https://lnkd.in/dPy82v3E #Startups #Innovation #Growth #AxisBankStartUpSocial #NewEconomyGroup #axisbank #axisstartup #axisstartupbanking #axis Gaurav Saboo

A. Bengaluru-Based Moneyview Achieves Unicorn Status :- Moneyview, a Bengaluru-based loan provider, has reportedly become India's latest unicorn startup after securing funding at a valuation of $1.2 billion. Although the company has not officially confirmed this development, a report indicates that the funding was supported by existing investors Accel India and Nexus Ventures. B. Investment Details :- - Accel India : Contributed Rs 29 crore. - Nexus Ventures : Contributed Rs 19 crore. - Funding Round Status : The round is ongoing, with additional funds expected to be raised in the coming months. C. Previous Funding Milestone :- - December 2022 : Moneyview achieved "soonicorn" status by raising $75 million at a valuation of $900 million. - Lead Investors : Winter Capital, US-based Tiger Global Management, Evolvence India Fund, and Apis Partners. D. Founders :- - Puneet Agarwal and Sanjay Aggarwal founded Moneyview in 2014. - Products : The startup provides personalized credit products, including instant personal loans and financial management solutions. - Partnerships : Collaborates with several NBFCs, such as Whizdm Finance, Aditya Birla Capital, DMI Finance, Clix, Incred Finance, Northern Arc, Vivriti Capital, IDFC First Bank, and Oxyzo. E. Financial Performance :- - FY23 Operating Revenue : Increased by 160% from Rs 222 crore in FY22 to Rs 577 crore. - Profit Surge : Profits rose by 2,616%, from Rs 6 crore in FY22 to Rs 163 crore in FY23. - Profit Before Tax : Reported at Rs 175 crore for FY24. #RaffesiaTechnologies #Moneyview #PuneetAgarwal #SanjayAggarwal #Unicorn #Accel #Nexus #Funding #WhatsBuzzing #Digitalmarketing #Entrepreneurship #Marketing #Startups #Advertisingandmarketing #Contentmarketing #Socialmedia #Leanstartups #Motivation #Management

Fintech Boom in India! Did you know? Fintech is the fastest-growing sector in India, accounting for a whopping 21% of total startup funding! 💸 From digital payments to neobanking, India is revolutionizing the way we handle money, making financial services more accessible and efficient than ever before. With a tech-savvy population and a push towards digital transformation, fintech startups are leading the charge in shaping the future of finance in India. 🌐📈 Are you keeping an eye on the fintech wave? 🧐 #Fintech #Startups #IndiaGrowth #DigitalTransformation #Entrepreneurship #startup

My posts over the last few years have reflected the journey of the fintech startup sector's recent evolution - from rapid innovation and growth to bloating and, inevitably, a reality check by investors and closing of wallets. It's not all bad news though. What we're now seeing is that fintech startups continue to win investor attention if they have unique, specific products tailored to a clear audience. Looking at "interesting models" that are succeeding right now, Elevation Capital's Vaas Bhaskar was recently quoted in India's Economic Times as saying: "we are starting to see a set of companies who are re-bundling the banks by bringing a bunch of financial services together for a niche. It cannot be a very large segment. It could be 1, 2, or 3 million people but build out a suite of products and services, financial services and sometimes you layer in commerce and some other things." Bundled solutions tailored to customers in particular niches seems to be the immediate future of the fintech startup sector - it will certainly be a space that booms in the era of AI and LLM. #Fintech #Startups #Fundraising

Strategic Insights: Acquisition as a Path to Success In my experience, certain businesses are structured in a way that makes independent survival challenging from day one. Their true potential and success often lie in getting acquired. This is a crucial consideration for fund houses and founders alike. Take, for instance, the fintech sector. Many fintech startups thrive on innovation but face significant hurdles in scaling sustainably. For these startups, acquisition becomes a strategic goal, providing the necessary infrastructure and resources to grow. Consider the curious case of neobanks in India. Some have grown remarkably but remain heavily dependent on traditional banks. The future for these neobanks may involve one of two scenarios: 1-Neobanks acquiring a bank to gain the required banking licenses and infrastructure. 2-Traditional banks acquiring neobanks to integrate their innovative solutions. However, there's a twist. Big private banks have already invested heavily in their tech infrastructure and their sheer size , making them less likely to be targets. Instead, the focus might shift towards smaller private banks, which are potential acquisition targets for neobanks looking to solidify their market position. In this landscape, it's essential for both fund houses and founders to recognize and plan for these acquisition opportunities. By doing so, they can align their strategies with the broader market dynamics and ensure sustained growth and success. Let's embrace these insights to navigate the complex but rewarding world of fintech and beyond! #Fintech #Neobanks #AcquisitionStrategy #Startups #Innovation #Entrepreneurship #VentureCapital #BusinessGrowth

"Every time I read about it, every time I stay impressed" ✌🏻 India's Fintech Saga! 🇮🇳 1️⃣ Third-largest Fintech hub! No not a snake charmer anymore, India is now the third largest, trailing only to the USA and UK. ........ 2️⃣ Minicorns on the rise! 700+ Fintech startups already have the Minicorn status. India is very close to minting 1k+ Fintech Minicorns... But what's a Minicorn? 🤔 Minicorn are just one step before Unicorn and are companies with the Valuation range of $1 mn - $1 bn. ........ 3️⃣ Billions in funding Indian Fintech secured $26 bn in equity funding in just five years, ranking third globally. Just WOW! ........ 4️⃣ Revenue growth Fintech startups saw a remarkable 56% annual revenue jump, outpacing the global average of 13%. THAT'S 4X Growth! ....... 5️⃣ Untapped potential Huge opportunities remain in mutual funds, insurance, credit card spends, retail loans, and digital payments. Cross selling is the primary product of big Fintechs and India is obviously under penetrated in Insurance, MF and all BFSI services! A big Market to serve using data and a solid platform... 👏🏻 ........ 6️⃣ Rapid value creation Fintech achieved $100+ bn valuations in just 10 years, compared to traditional banks' $600+ bn in over 40-50 years. And this is not just in India, but globally... Amazing how Revolut, a Fintech founded in 2015, just overtook Barclays founded in the 1860s. Time flies 🕊️ ....... 7️⃣ Bharat's turn The next growth wave will come from rural India, with Agri Fintech startups leading the charge. Well, the more I visit rural India, the more I wonder about the magic of UPI! Just India's way of transacting through 40 Cr QRs...👏🏻 ........ 8️⃣ DPI's impact India's Digital Payments Infrastructure (DPI) has significantly boosted Fintech growth. Have covered DPI in my previous posts. Link in the comments section! ........ 9️⃣ Mature Fintech 35+ Fintech are ready for IPOs, with Phonepe, Razorpay, and Cred leading the pack. They are all $5 bn+ startups and nearing Decacorn ($10 bn+ ones) ........ 🔟 IPO challenges However, 70% of Fintech listed in India in the last five years saw share prices decline within six months post-IPO 🤷🏻 Well, everyone has shortcomings but.... India's Fintech story is surely a billion dollar opportunity unfolding! ✌🏻 ....... Let me know your thoughts in the comments section. Follow me for more such exciting content on Energy and Finance! Src : Boston Consulting Group (BCG) Fintech study report! PhonePe | Razorpay | CRED | Pine Labs #gff #fintech #growth #ipo