Credgenics’ Post

Deepak Chand Thakur, Co-founder and CEO was at the National Payments Corporation Of India (NPCI) Propel conference. In the session on Scaling Fintech Operations, Deepak drawing from his entrepreneurial journey and emphasized: • 84% of risks faced by early-stage FinTechs are controllable. • Prioritize profitability rather than just high valuations. • Pivot early to seize new revenue opportunities. • Secure a patron customer to scale and grow revenue. • Build organizational capacity by investing in talent, technology, and infrastructure to support the next stage of growth. • Explore alternate financing sources in the backdrop of the long funding winter that start-ups face.                                 Deepak Chand Thakur | Ashish Aggarwal | Savita Vashist | Rajiv Beri | inder naugai | Prashant Rao | Karanam Pavankumar | NAVIN CHAND THAKUR #Fintech #FinancialTechnology #Startups #Payments #Innovation #NPCIPropel #FintechCEO #ScalingFintechOperations #ProfitabilityFirst #FundingAlternatives

Moneyview, a leading fintech company in India, has officially become a unicorn, reaching a $1.2 billion valuation after a successful funding round and the acquisition of Jify, an employee benefits startup. The company raised $4.6 million (₹38.64 crore) from existing investors, Accel India and Nexus Ventures, marking its rise from a $900 million valuation in 2022. Founded in 2014, Moneyview offers personal loans, credit cards, and financial management tools, providing quick access to loans of up to ₹5 lakh with minimal paperwork. The company's operating revenue surged to ₹577 crore in FY23, while its profits grew 27 times to ₹163 crore, highlighting its rapid growth. The acquisition of Jify, which allows employees to access their earned wages in real-time, strengthens Moneyview’s service portfolio, expanding into employee financial wellness. This milestone signifies Moneyview’s commitment to innovation and growth, positioning it as a major player in India's fintech landscape. #Moneyview #Unicorn #Fintech #Startup #Growth #Funding #India #Acquisition

Tamil Nadu Disruptors 2024 - Fintech: CloudBankin. A Chennai-based lending SaaS startup providing solutions to financial institutions, Cloudbankin has raised $400,000 and serves over 50 institutions globally. We are immensely proud to recognise  it as one of the disruptive businesses that has revolutionised India’s entrepreneurial landscape, with the Tamil Nadu Disruptors 2024 Awards at #TamilNaduStory2024. 

Bengaluru-based Moneyview, a tech-enabled lending platform founded by Puneet Agarwal and Sanjay Aggarwal, is nearing unicorn status as it advances in securing $50-60 million in its Series F funding round. This new round, featuring participation from Apis Partners, Accel Partners, and Evolvence India, is set to push Moneyview’s valuation beyond $1 billion. The company, which has raised nearly $190 million to date and was valued at approximately $900 million in its last round, has demonstrated significant growth with a revenue increase of 2.6 times and a profit surge of 27 times in FY23. Additionally, Moneyview is preparing to acquire a mid-stage fintech firm to further boost its market presence. #Moneyview #UnicornStatus #FintechFunding #SeriesF #ApisPartners #AccelPartners #EvolvenceIndia #PuneetAgarwal #SanjayAggarwal #TechLending #FinancialGrowth #StartupAcquisition #startup77

Fintech unicorn Cred has reportedly secured an in-principle approval from the Reserve Bank of India (RBI) for its payment aggregator licence application. Citing two sources familiar with the development, TechCrunch reported that the startup received the nod earlier this week. 🚀 Join the startup revolution! Follow StartupTrak for the latest and hottest startup news, inspiring stories, and game-changing innovations! 💯❤️🔥 . . #Cred #Fintech #Unicorn #ReserveBankOfIndia #RBI #PaymentAggregator #LicenseApproval #TechCrunch #FinancialServices #Regulation #BusinessNews #StartupNews #StartupTrak

🚨 Fintech playbook: How Yubi built a debt marketplace 1️⃣ Yubi, a wholesale debt-solutions marketplace, was incubated within Vivriti Capital and incorporated as CredAvenue, a name that was subsequently changed. Valued at $1.5 billion, Yubi is demerging from Vivriti. 2️⃣ Yubi co-founder Gaurav Kumar put Rs 250 crore of his own money into the company in August of this year, demonstrating his commitment to potential investors. 3️⃣ What makes Yubi’s platform unique is its horizontal construct. It has been designed not to have skin in the lending game, but be an enabler in the process, which entails sourcing capital, analysing borrower pools and collecting instalments. 4️⃣ Lenders have a centralised team to evaluate Yubi for its information security and technology diligence. Once this is done, functional teams handling retail loans and supply chain financing choose debt solutions from the marketplace. With a build-and-buy framework, Kumar has effectively consolidated several fintech use-cases, like credit underwriting and debt collections, to build a horizontal platform. Article link in comments ⬇️ #fintech #startups #unicorns #software #marketplace #debt #lending #yubi #vivriti

Bengaluru-based fintech unicorn CRED’s operating revenue jumped 71% to INR 2,397 Cr in the financial year 2023-24 (FY24) from INR 1,400 Cr in the previous fiscal year. The Kunal Shah-led startup attributed the rise in revenue to increase in member engagement and monetisation 👇 Including other income, total revenue rose 66% to INR 2,473 Cr during the year under review from INR 1,484 Cr in FY23. Despite the surge in its top line, CRED’s net loss increased in FY24. Its net loss stood at INR 1,644 Cr, up 22% from INR 1,347 Cr in FY23. While the startup didn’t disclose all the financial metrics, it said its operating loss declined 41% to INR 609 Cr in FY24 from INR 1,024 Cr in the previous year. Operating expenditure, including one-time costs, stood at INR 3,082 Cr in FY24, it said. 📎 To read in-depth article, click here: https://lnkd.in/garqVP73 #news #Cred #unicorn

2024 is witnessing the resurgence of the Indian startup ecosystem. While touching upon the subject, Manmohan Tiwana, MD & CEO, Wodehouse Capital Advisors, shares his insights on the prospects for the fintech sector and potential growth within the InsurTech sector. While funding has been gaining steady momentum based on recorded trends from the start of the year, there is an emphasised need to maintain cautious optimism. Click on the link to read the article: https://bit.ly/43mUSLL Sraboni Haralalka #IndianEconomy #InvestmentBanking #Fintech #InsurTech #IndianStartup #Growth #Funding #Investment

Mumbai-based Raise Financial Services turned profitable in the financial year ended March 31, 2023. The fintech startup reported a net profit of INR 7.16 Cr in the financial year 2022-23 (FY23) as against a net loss of INR 2.78 Cr in the previous fiscal year 👇 The startup’s profitability can be attributed to strong business growth. Operating revenue zoomed 25X to INR 20.74 Cr in FY23 from INR 82.14 Lakh in FY22. Including other income, the fintech startup’s total revenue stood at INR 26.53 Cr, a 10X jump from INR 2.5 Cr in FY22. Founded by ex-Paytm Money CEO Pravin Jadhav and Alok Pandey in 2021, Raise offers multiple financial services in the stock broking space, primarily targeting users in Tier I, II Indian cities. 📎 To read more in detail, click here: https://lnkd.in/gYvGTC-G #news #finance #startup #fintech

Bengaluru-based fintech startup Moneyview has made headlines with its impressive financial performance for the fiscal year ending March 2024 (FY24). The company reported a remarkable 75% increase in operating revenue, reaching INR 1,012.01 Cr, up from INR 576.75 Cr in the previous fiscal year. This growth underscores Moneyview's expanding influence in the fintech sector and its ability to capture a larger share of the market. Read More :- https://lnkd.in/g-dBEYfh #Moneyview #Fintech #UnicornStatus #FinancialGrowth #OperatingRevenue #StartupSuccess #Investment #Innovation #LoanManagement #BengaluruStartups #FinancialSolutions #BusinessGrowth #TechInFinance #FiscalYear2024 #MarketLeadership #ConsumerTrust #FintechNews #StartupEcosystem #FundingSuccess #RevenueGrowth