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UPI's global plans🌎, BMS backs PopClub🍿, upGrad reveals big hiring plans🧑🏻💻
NPCI plans to take UPI global, Bookmyshow backs D2C marketplace, upGrad co-founder reveals big hiring plans, Funding Deals and more.
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NPCI plans to take UPI global to make remittances faster and cheaper🌎
The National Payments Corporation of India (NPCI), which built and runs the hugely popular Unified Payments Interface (UPI), now wants to use India’s digital payments backbone to make it cheaper and earlier for non-resident Indians to send money home.
NPCI is in the process of connecting the UPI platform to systems in other countries to replicate its domestic success. It is negotiating collaborations with governments, fintech companies, and service providers around the world, aiming to reduce transaction costs and enable more small-ticket transactions.
Indians overseas remitted $87 billion last year, the biggest inflow for any country tracked by the World Bank. The remittances market, where it costs $13 on average to send $200 across borders, is ripe for disruption, according to the NPCI chief.
About 330 banks and 25 apps use UPI, which has helped make instant digital payments a $3 trillion market in India.
Bookmyshow backs D2C marketplace startup, to list it on platform🍿
Online movie ticketing and events platform Bookmyshow (BMS) has invested around Rs 10 crore in Popclub, a new direct-to-consumer marketplace startup.
The startup – housed under Preebee Lifestyle Pvt Ltd — will use BMS’ large user base to drive traffic to the marketplace. BMS is also likely to create a tab on its platform for Popclub.
Founded by The Label Life founder Preeta Sukhtankar, Popclub is in active discussions to onboard multiple D2C brands on its platform. Each brand will have a digital storefront on Popclub.
It is targeting people with high spending power in tier 1 cities.
Travel accessories company Acefour Accessories has raised $7 million in Pre-Series A funding round led by Sixth Sense Ventures.
Homegrown artisan bakery The Baker’s Dozen has secured $5 million in a Pre-Series A funding round comprised of equity and debt led by Fireside Ventures.
TruBoard Partners, an asset monitoring and loan collections platform, said it has raised $2.7 million from unknown marquee investors.
Consent-based account aggregator service platform Finvu AA has bagged $2.5 million in a seed funding round led by Varanium Fund, IIFL, DMI Sparkle Fund, and M2P, amongst others.
Sportstech startup Hudle has raised $1 million as part of its ongoing Series A round led by Inflection Point Ventures.
➡️ Check out our LinkedIn space for more on the funding deals.
upGrad co-founder reveals big hiring plans ahead of funding round🧑🏻💻
Edtech firm upGrad is looking to hire more than 3,000 people across segments in 2022-2023 at a time when its peers are on a firing spree amid a 'funding winter' in the startup space.
“In this fiscal year, we will go up to 2,000-3,000 or more people. Every week I am sitting with an open position of about 250 plus… many of our new businesses, whether it is to study abroad, short skill certification, etc., will require the right sort of people coming in,” co-founder and managing director Mayank Kumar told.
The unicorn has lined up the mega hiring plan ahead of a funding round it is expected to close soon.
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