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Digital Lenders Boom🎉, Paytm's Ambitious Credit Goals 💳
Indian IT's Slowdown, Peak XV's Deep Tech Focus, WhatsApp Business' Quick Action Innovation, Funding Deals and more.
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Festive Season Boosts Digital Lenders🎊
Digital lenders are gearing up for a profitable festive season as consumers gear up for spending sprees and merchants stock up. With increased consumer demand, the fintech lending industry is confident about meeting the surge in credit demands. 💳✨
Slowest Growth Predicted for Indian IT Firms👩🏻💻
The $245-billion Indian IT industry is expected to experience its slowest growth ever. Infosys is likely to report its slowest growth based on the current guidance of 1-2.5%. Wipro's growth numbers have dropped to their FY99 levels. Tata Consultancy Services (TCS) and HCLTech are also expected to have their slowest growth since the pandemic. 📉
Peak XV Surge’s Ninth Cohort Focuses on Deep Tech and AI Ventures🤖
Peak XV Partners' startup scale-up program, Surge, has selected 13 startups for its ninth cohort. This cohort is particularly focused on deep tech, AI, and quantum ventures. Since its inception in 2019, Surge has supported over 140 startups, which have collectively raised over $2 billion in follow-on funding after participating in the program. 🚀
Paytm Aims for 40-50% Annual Growth in Credit Business💸
One 97 Communications, the parent company of Paytm, anticipates a robust growth rate of 40-50% per year in its overall credit business over the next two to three fiscal years. Despite this ambitious projection, Paytm remains cautious, particularly in the personal loan vertical. 💳
WhatsApp Business Introduces Quick Action Bar Feature📱
WhatsApp Business is testing a new feature called the 'quick action bar' on Android devices. This update introduces a convenient icon above the microphone button, enabling users to access a quick action bar above the chat input field. This bar facilitates swift actions, such as order creation, accessing quick replies, and sending products from the user's catalogue.📱✨
Direct-to-consumer (D2C) backpack startup, Mokobara, has recently secured substantial funding of $3.6 million from its existing investors, affirming their confidence in the company’s potential. The investors involved in this financial injection include Saama Capital, Sauce VC, and Alteria Capital.
Private equity firm General Atlantic has entered into an agreement with entities held by Affirma Capital to acquire a minority stake in online B2B travel distribution platform Travel Boutique Online (TBO).
Travel banking fintech platform Niyo has raised strategic funds from Spring Marketing Capital.
Tweet of the day🐥
“Success is achieved by developing our strengths, not by eliminating our weaknesses.”
- Marilyn Vos Savant
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