Flipkart enters in home services🪛, Mfine lays off 500🩺, Visa bets big💳

Flipkart enters appliance repair service, Mfine lays off 500 employees, Visa takes a big bet on commercial payments, Funding Deals & more.

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May 23, 2022

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Flipkart enters at-home appliance repair service, starts with ACs🪛

Ecommerce firm Flipkart has quietly entered the home services business, starting with AC servicing.

It is providing the service through Jeeves, an after-sales services company it had acquired several years back. The service is live in cities like Bengaluru and Kolkata and will soon be expanded to other top Indian cities.

Flipkart’s home services business is likely to also include washing machine repairs and other similar offerings going forward, covering the product categories sold on the ecommerce platform.

So far, Jeeves has been used by Flipkart to offer installation services to consumers who buy large appliances like AC, washing machines or furniture on the platform. Now, a consumer can place an order for AC servicing regardless of where it was bought from, including rival marketplaces.

Digital health platform Mfine lays off 500 employees🩺

Digital health platform Mfine has laid off around 500 employees, becoming the latest to cut jobs as startups struggle to raise funds.

Mfine is the eighth company in the startup space to lay off employees since April. It has let go of employees in data science, engineering and product departments.

Mfine’s digital services include doctor consultations, diagnostic tests, epharmacy and in-patient procedures. The company competes with the likes of Practo, Portea and Apollo.

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Visa takes a big bet on commercial payments in India💳

Visa is taking a big bet on business-to-business (B2B) payments bolstering its corporate card-based solutions for commercial statutory payment use cases such as payment to suppliers, reconciliation and GST-based payments.

Sandeep Ghosh, group country manager, Visa India and South Asia

Visa will explore long-term partnerships with fintechs to provide solutions to the entire value-chain of corporates and B2B suppliers, and may even look at investing in some fintechs, said Sandeep Ghosh, who was recently appointed as group country manager for Visa India and South Asia.

The fintech partnerships it is scouting are in the areas of dynamic underwriting solutions, as it looks to enable more small and medium businesses (SMBs) to receive the financing and benefits they need.