Fintech unicorn BharatPe has achieved EBITDA positivity in October, reducing its monthly burn to attain profitability. The company’s business verticals have shown strong growth, resulting in annualized revenues of over Rs 1,500 crore. BharatPe’s lending segment partnered with NBFC partners to disburse over Rs 640 crore in loans to merchants, while the payments business recorded …
Other popular altcoins, such as Tron, Chainlink, and Avalanche, plunged over 5% each. Also, BNB, XRP, Solana, Cardano, Dogecoin, Polygon and Shiba Inu fell 2-4%.
This comes as the company has been looking to rekindle its relationship with Unity Bank after a tumultuous period marked by the departure of BharatPe cofounder Ashneer Grover last year, and the subsequent efforts to strengthen the board and corporate governance practices.
BEENEXT Managing Partner Hero Choudhary said PhiCommerce has through its omnichannel payment stack, successfully resolved complex payment issues and demonstrated its prowess to process digital payments at scale in the Indian market. PhiCommerce founders had earlier formed fintech firm ElectraCard Services which was acquired by Mastercard in 2014. Read more:
Quicker and cheaper than its larger rival Bitcoin, Tron has overtaken its rival as a platform for crypto transfers associated with groups designated as terror organisations by Israel, the United States and other countries
NPCI introduced UPI payments without internet using NPCI’s short code, *99#. This mobile banking platform allows users to perform transactions without internet, benefiting feature phone users and those with limited access. To set up offline UPI payments, dial *99# and select language, enter IFSC code, link bank account, and provide debit card details. To make …
How to make UPI payments without using the internet Read More »
Other popular altcoins, such as Solana and Polygon, plunged 2.6% and 2.8%, respectively. Also, BNB, XRP, Cardano, Tron, and Litecoin fell 1-2%. With steady resistance to cross the $38k mark, BTC held steady above $37k over the weekend. Investors feel that BTC’s price action is beginning to show downside correction.
The Chennai-based firm plans to use this investment to build out the initial team, develop innovative technologies, and accelerate expansion in existing and new geographies over the next 12-18 months. Lok Capital, founded in 2004, has managed four funds so far, with around 40 investments and 30 exits. Read more:
To begin with, the Walmart-backed company will work as a distributor for personal loans as it slowly builds up credit underwriting heft, they added. It is in the final stages of integrations with five lenders, a mix of banks and nonbanking finance companies. PhonePe recently reported a registered user base of 500 million customers and …
PhonePe is set to launch consumer lending by January 2024 Read More »
Last week, Grover had posted on social media platform X (formerly Twitter) about the equity allocation and secondary components undertaken during the company’s Series E funding round which was led by Tiger Global and saw participation from Dragoneer Investor group among others.
