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<ul><li>Flexiloan.com has raised a whopping $90 million in a mix of debt and equity.</li><li>The company plans to use this capital to process loans worth ₹2,000 crore</li><li>It also claims to have access to over 10 million SMEs through its 50+ partners like Amazon, Flipkart, MSwipe, PineLabs, and others. </li></ul>Digital lender Flexiloan.com on Tuesday announced that it has raised a whopping $90 million in a mix of debt and equity to process loans worth ₹1,500 crore- ₹2,000 crore ($190-$260 million) in the next 12 months. The Series B round was raised from marquee investors like Denmark-based private equity firm MAJ Invest, UK-based intact investor Fasanara Capital, the family offices of Dr Harry Banga and Yogesh Mahansaria. The company has been in talks for this round since last August and started signing term sheets in January, Deepak Jain, co-founder of Flexiloan.com, told Business Insider. Former chief executive officer (CEO) of Citigroup Sanjay Nayar — husband of Nykaa’s founder Falguni Nayar — also participated in the round, which included a debt infusion of ₹210 crore ($28 million). The company has raised ₹350 crore to date, which has been used for lending and investment in technology. The six-year-old startup plans to use this capital to scale its micro small and medium enterprises (SME) lending. It also plans to create a technological edge for its ‘Buy Now Pay Later’ (BNPL), supply chain and co-lending services. For this, the company plans to hire for the product and tech teams. <cmsannotation type="cmsannotation" annotationid="Achieving six year’s growth in the next 12 months" comment="subhead" text="Achieving six year’s growth in the next 12 months">Achieving six year’s growth in the next 12 months</cmsannotation> Founded in 2016 by Deepak Jain, Ritesh Jain Manish Lunia and Abhishek Kothari, Flexiloan.com has disbursed over ₹1,700 crore ($200 million) to micro, small and medium enterprises (MSMEs) across 1,600 cities in India without any offline centers. The company now plans to issue loans upto ₹2,000 crore ($260 millions) —a little more than the loans it has disbursed since its inception — in the next 12 months. Deepak Jain noted that the company was disbursing loans worth ₹25 crore a month during pre-Covid days. The company managed to scale more than four-fold to disburse over ₹100 crore ($14 million) on a monthly basis, leading to an annual run rate of ₹1,200 crore ($160 million). “The $100 million will go to $150 by September and $200 million by March next year. If we are able to go at this pace, we should be able to disburse at least ₹1,500-₹2,000 crore this year. The run rates are improving over a period of time,” Jain explained. The Mumbai-based company now plans to double this run rate over the next year, with its co-lending platform contributing a significant share of growth. It also claims to have access to over 10 million SME through its 50+ partners like Amazon, Flipkart, MSwipe, PineLabs, and others. “We are impressed with <keyword id="3558137" type="General" weightage="20" keywordseo="flexiloans" source="Orion">FlexiLoans</keyword>’ vision, strong management team and solid technology platform for driving financial access to deserving Micro SMEs. Indian MSMEs are increasingly adopting digital tools and FlexiLoans’ technology and data science assets are a perfect match to seize this opportunity to deepen financial access where it's most needed" said David Paradiso, Partner - MAJ Invest. Asia Link Advisors and Axis Capital acted as advisors for the fund raise. SEE ALSO <a href="https://www.businessinsider.in/business/corporates/news/indian-corporates-made-a-full-comeback-with-111-billion-profits-but-the-same-cant-be-said-for-2023/articleshow/92033485.cms" style="">Indian corporates made a full comeback with $111 billion profits, but the same can’t be said for 2023</a> <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/lic-stocks-if-you-want-to-predict-this-stock-prices-look-how-the-stock-market-moves/articleshow/92040939.cms">If you want to predict LIC stock prices, look how the stock market moves</a> <a href="https://www.businessinsider.in/business/auto/news/tata-motors-bags-indias-biggest-ev-fleet-order-from-cab-company-blusmart/articleshow/92035478.cms">Tata Motors bags India’s biggest EV fleet order from cab company BluSmart</a>

FlexiLoans.com bags $90 million to cover six years’ of journey in one year

Adani Enterprises will be setting up a hyper-scale data centre at <keyword id="7009895" type="General" weightage="20" keywordseo="Bengal-Silicon-Valley" source="Orion">Bengal Silicon Valley</keyword> in the New Town area in the northern outskirts of Kolkata, according to the West Bengal Commerce and Industries Minister Partha Chatterjee. "We have already allotted 51.75 acres of land for that purpose at Bengal Silicon Valley. The land is being allotted on the basis of a 99-year lease," he told media persons at the Assembly premises here on Monday. However, Chatterjee declined to comment on the quantum of investment that Adani Enterprises will be making behind that project. He was also silent on the number of direct employment that the proposed project will ensure. While addressing the Bengal Global Business Summit (BGBS)-2022, the annual event organised by the state government to showcase the state as an attractive business destination, in April, <keyword id="6367820" type="General" weightage="20" keywordseo="adani-group" source="Orion">Adani Group</keyword> Chairman <keyword id="111343" type="General" weightage="20" keywordseo="gautam-adani" source="Orion">Gautam Adani</keyword> said that his group will invest Rs 10,000 crore in the state over the next ten years. Then he also said that this proposed investment will be in sectors like date centres, warehouses and under-sea cables. "This will provide direct and indirect employment to around 25,000 people. As we make these investments, we will bring in the state world class technology," he had said. According to Chatterjee, this hyper-scale data centre will be the first tranche of the investment of Rs 10,000 crore by Adani Group in the state. He also said that proposals for setting up four bicycle manufacturing units by four different companies at Kharagpur Vidyasagar Industrial Park in West Midnapore district have also been received by the state government. According to him, the four projects combined will entail investment to the tune of Rs 40 crore and will ensure employment to 140 individuals. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/retail/e-commerce/news/tataneu-could-be-worth-15-billion-all-thanks-to-bigbasket-croma-and-westside/articleshow/92052094.cms">TataNeu could be worth $15 billion all thanks to BigBasket, Croma and Westside</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/business/startups/news/flexiloans-com-bags-90-million-to-cover-six-years-of-journey-in-one-year/articleshow/92041187.cms">FlexiLoans.com bags $90 million to cover six years’ of journey in one year</a>

Adani Group to set up hyper-scale data centre near Kolkata

<keyword id="1144224" type="General" weightage="20" keywordseo="Tamil-Nadu-health-department" source="Orion">Tamil Nadu health department</keyword> has commenced a probe into the role of private hospitals in Kerala and Andhra Pradesh after a 16-year-old girl was repeatedly raped and her embryos sold for surrogacy in Erode. The minor girl had complained that she was forced into a sexual relationship with her mother's paramour and selling her embryos eight times. Based on her complaint, the girl's mother, her lover, and an agent Malathi were arrested by Erode police. The Tamil Nadu health department had commenced an inquiry after the girl stated that she was taken to private hospitals in Erode, Salem, Kerala, and Andhra Pradesh. While two major hospitals in Erode and Salem are already under scanner, the state health department vigilance team has already commenced a probe into the private hospitals in Kerala and Andhra Pradesh regarding their connection in the case. A senior officer with the Tamil Nadu health department told IANS: "The investigation is on and we have already conducted searches at one private hospital each in Erode and Salem and further investigations are being conducted in association with the Tamil Nadu police to find out whether there are other instances of illegal sale of embryos. An investigation has revealed that the girl's mother had collected Rs 20,000 for each <keyword id="14132976" type="General" weightage="20" keywordseo="embryo-sale" source="Orion">embryo sale</keyword> and paid the agent Malathi Rs 5,000 as her commission. Police said that the girl was subjected to embryo sale eight times. Erode police sources told IANS that the investigation is being conducted to find out whether a large racket involving hospitals and touts is working to procure embryos for money exploiting vulnerable minor girls. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/maruti-suzuki-adani-enterprises-metropolis-idbi-bank-among-stocks-to-watch-out-for-on-june-7/slidelist/92049909.cms"></a><a class="tout-title-link" href="https://www.businessinsider.in/retail/e-commerce/news/tataneu-could-be-worth-15-billion-all-thanks-to-bigbasket-croma-and-westside/articleshow/92052094.cms">TataNeu could be worth $15 billion all thanks to BigBasket, Croma and Westside</a> <a href="https://www.businessinsider.in/business/startups/news/flexiloans-com-bags-90-million-to-cover-six-years-of-journey-in-one-year/articleshow/92041187.cms">FlexiLoans.com bags $90 million to cover six years’ of journey in one year</a> <a href="https://www.businessinsider.in/business/corporates/news/indian-corporates-made-a-full-comeback-with-111-billion-profits-but-the-same-cant-be-said-for-2023/articleshow/92033485.cms">Indian corporates made a full comeback with $111 billion profits, but the same can’t be said for 2023</a>

Tamil Nadu embryo sale racket creates ripples across Andhra and Kerala

<ul><li>The equity funding round was led entirely by the Falguni and <keyword id="6379795" type="PERSON" weightage="20" keywordseo="sanjay-nayar">Sanjay Nayar</keyword> Family Office, the investment arm of Nykaa founder <keyword id="6379793" type="PERSON" weightage="20" keywordseo="falguni-nayar">Falguni Nayar</keyword> and her investment banker husband, Sanjay Nayar.</li><li>With the latest funding, <keyword id="3558137" type="PERSON" weightage="20" keywordseo="FlexiLoans">FlexiLoans</keyword> has raised a total of ₹500 crore in equity and debt funding so far.</li><li>The startup was founded in 2016 by graduates of Indian School of Business Abhishek Kothari, Deepak Jain, Manish Lunia, and Ritesh Jain.</li></ul>Indian <keyword id="6618634" type="UNKNOWN" weightage="20" keywordseo="lending-startup">lending startup</keyword> FlexiLoans has raised ₹150 crore in a mix of equity and debt funding. The equity funding round was led entirely by the Falguni and Sanjay Nayar Family Office, the investment arm of Nykaa founder Falguni Nayar and her investment banker husband Sanjay Nayar. Sanjay is the India head of American PE giant KKR. “FlexiLoans.com has one of the strongest fintech technology platforms with a right mix of strategy, business partnerships and underwriting processes to capitalize on the digital lending opportunity in India, especially in the post-COVID environment,” said a spokesperson from the Nayar Family Office. With the latest funding, FlexiLoans has raised a total of ₹500 crore in equity and debt funding. Founded in 2016 by graduates of Indian School of Business Abhishek Kothari, Deepak Jain, Manish Lunia, and Ritesh Jain, FlexiLoans now plans to scale up its SME lending, while also expanding its supply chain and co-lending verticals. FlexiLoans book <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Loans disbursed </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">30,000+ </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Loanbook </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹800 crore </td></tr></tbody></table> “FlexiLoans.com is now poised to enter the next phase of its growth journey that we have clearly crafted on the lines of Profitability, Growth and Risk Control. We chose to accept this bid over other term sheets we had from a few institutional investors, given the long term nature of this capital,” said Deepak Jain, co-founder of FlexiLoans.com in a statement. The startup was also one of the four Indian startups to be named in the global ‘Emerging 50’ FinTechs, according to a report released by KPMG in collaboration with H2 Ventures. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/byju-raveendran-on-byjus-us-expansion-and-how-white-hat-jr-wont-just-be-about-coding-anymore/articleshow/78904109.cms">'India can provide teachers to the world, just like software engineers,' says Byju Raveendran as he plans to take his $11 billion edtech startup to US shores</a>

FlexiLoans raises ₹150 crore in equity and debt funding – Falguni and Sanjay Nayar Family Office bets on the lending startup

<ul><li>The company is moving in the right direction in terms of growing sales and expected to reach EBITDA breakeven soon</li><li><keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword> is among the worst performers of 2022 so far as the stock has slipped 53% during the period.</li><li>Analysts at JP Morgan expect the share price to jump significantly by 60% to ₹1,000 per share.</li></ul>While Paytm is still struggling to make profits or even deliver positive returns to its shareholders, a brokerage firm believes that it will soon reach its breakeven with moderate expenses. Analysts at JP Morgan believe sustained improvement in the profit margins in the last two quarters at 35%, have set the stage. In the fourth quarter of last year, its profit margins stood at a healthy 35%. “We believe a sustained improvement in the profit margin contribution at PayTM seen over the last two quarters sets the stage for operating leverage Q2F23 onwards as indirect costs moderate - resulting in a consistent downtrend in adjusted EBITDA loss and an eventual path to breakeven,” said a report by JP Morgan. The company has been making losses for 11 years since its inception, and like most startups its acquisition costs have been high. However, most startup investors concentrate on unit economics — and improving profit margins which shows that its business can yield money, is comforting to its many nervous shareholders. In 2022, the Noida-based fintech company is among the worst stock performers as it slipped 53%. But the tide seems to be turning albeit slowly as per the brokerage firm. After a period of restriction, it reinstated an ‘overweight’ rating on the stock, and sees the share price increase by 60% to ₹1,000 per share. While the lending business is growing gradually, the losses in the segment indicate contained delinquencies in buy now pay later (BNPL) and merchant loans. “Lending business scale up, an increased contribution from devices and credit card sourcing should result in consistent quarterly improvement in contribution profits which should touch near 40% by the fourth quarter of 2023. A reduction in the adjusted EBITDA loss with better cost controls in indirect expenses will be a key fundamental stock driver,” said the report. Paytm also partnered with scheduled commercial banks and NBFCs to offer collateral-free instant loans of up to ₹5 lakh at low-interest rates and also offers a unique daily EMI product customized for small merchants. End of tunnel for high expenses on employee cost Paytm has been spending a large chunk of revenue in hiring professionals and in marketing expenses. Now that most of the roll out of employees is done, the indirect cost of employee hiring should start to moderate from July-September FY23. Reduction in costs is also a key factor in its path to profitability. Most startups end up spending heavily on customer acquisition as well as marketing. But Paytm has gained a market share of 15% in a very crowded market. It is now a recognizable brand – which can now aid its path to profitability. Paytm’s net loss widened by over 70% to ₹763 crore as expenses ate into its topline growth in Jan-Mar quarter 2022. However, not all brokerages share JP Morgan’s enthusiasm for the stock. “The business trajectory is admirable, but it’s still a long way to go for Paytm to turn profitable,” said YES Securities after March quarter earnings — and maintained its ‘reduce’ rating with a target price of ₹580 per share. <div type="image" title="paytm (1)" height="900" width="1200" msid="92054936" hostid="261"></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/retail/e-commerce/news/tataneu-could-be-worth-15-billion-all-thanks-to-bigbasket-croma-and-westside/articleshow/92052094.cms">TataNeu could be worth $15 billion all thanks to BigBasket, Croma and Westside</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/business/startups/news/flexiloans-com-bags-90-million-to-cover-six-years-of-journey-in-one-year/articleshow/92041187.cms">FlexiLoans.com bags $90 million to cover six years’ of journey in one year</a>

PayTM could be entering a low cost-high profit margin regime, say a brokerage firm

<ul><li><keyword id="12197987" type="General" weightage="20" keywordseo="tataneu" source="Orion">TataNeu</keyword> could be worth $15 billion as it is in position to clock $20 billion in sales by the end of this decade.</li><li>JM Financial has based this prediction on the gross merchandise value (GMV) of key categories on the superapp.</li><li>The company’s GMV currently stands roughly around ₹16,000 crore ($2 billion).</li></ul><keyword id="8187544" type="General" weightage="20" keywordseo="tata-digital" source="Orion">Tata Digital</keyword>’s superapp TataNeu — which brings all of its digital services and apps on a single platform — could be worth $15 billion, as per a report by Indian financial services group JM Financial. This could be a natural transition for the steel-to-tech-to-auto conglomerate which also has various consumer interest businesses including retail stores like Westside, Croma, FMCG brands from tea to salt, and also owns the grocery delivery app, BigBasket. “We believe there is a lot of value in the Tata ecosystem that Tata Digital can help unlock. Based on the gross merchandise value of key categories on <keyword id="12651286" type="General" weightage="20" keywordseo="tata-neu" source="Orion">Tata Neu</keyword>, we believe the value of Tata Digital could be upwards of $15 bn,” it added. <cmsannotation type="cmsannotation" annotationid="‘An audacious endeavour’" comment="subhead" text="‘An audacious endeavour’">‘An audacious endeavour’</cmsannotation> In fact, the report compares it to the e-commerce pivot of US retail giant, Walmart — and can successfully leverage online and offline shopping experience — something even Amazon and Jio are trying to achieve. But, it comes with its own risks. “While Tata is ticking all the right boxes in their digital shift, the mere enormity of this transition makes this an audacious endeavour. Drawing lessons from Walmart’s pivot to e-commerce, we believe Tata will need sustained investments in this space to succeed,” the report noted. <cmsannotation type="cmsannotation" annotationid="More services – travel to food and more" comment="subhead" text="More services – travel to food and more">More services – travel to food and more</cmsannotation> JM Financial has also not accorded any value to Tata Pay, its own UPI service and other categories in the TataNeu bubble such as food and travel. It expects the company’s valuation to evolve with addition of new products and services. Tata Digital is yet to add existing brands like Vistara, Air India, Tanishq, Titan and others to the <keyword id="3848715" type="General" weightage="20" keywordseo="super-app" source="Orion">super app</keyword>. “One thing is certain though. If executed well, there is a lot of value within the Tata group which Tata Digital can help unlock,” the report noted. <cmsannotation type="cmsannotation" annotationid="A 10x growth in gross merchandise value" comment="subhead" text="A 10x growth in gross merchandise value">A 10x growth in gross merchandise value</cmsannotation> If all works fine, JM Financial believes that TataNeu’s GMV could increase to ₹1.54 lakh crore (approximately $20 billion, at current conversion rate) by the end of this decade. The company based this prediction on the gross merchandise value (GMV) of key categories on the superapp. Its GMV — total value of merchandise sold over a given period of time — currently stands roughly around ₹16,000 crore ($2 billion). <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY2021/FY2022 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY2030E </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BigBasket </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹6,558 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹97,676 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1mg </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹309 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,607 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Curefit </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹161 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,404 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Croma </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5,315 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹27,424 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata CLIQ </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹356 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5,310 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Westside </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,940 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹6,826 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Caratlane </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,265 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹9,808 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹15,906 crore ($2 billion) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,54,056 crore ($19.8 billion) </td></tr></tbody></table>Source: VCCEdge, JM Financial Estimates Note: ‘E’ in FY2022E stands for estimates. <cmsannotation type="cmsannotation" annotationid="Good competitive advantage" comment="subhead" text="Good competitive advantage">Good competitive advantage</cmsannotation> JM Financial highlighted that it is difficult to accurately ascribe value to TataNeu due to lack of granular data around the number of users and GMV as it is early days of the app's launch. However, it emphasized that the valuation of the company should be akin to valuing an e-commerce company. TataNeu, which rolled out a little over eight months ago, was only open for 800,000 Tata Group employees and their friends and family till its formal launch in April. The superapp began with a cumulative consumer base of 120 million users and 2,500 offline stores, along with an 80 million app footprint across its digital assets. JM Financial believes that TataNeu is well placed to take market share away from its existing competitors like Flipkart, Amazon, Reliance Retail/JioMart. “Tata’s leadership in the fast-growing e-grocery segment (through Big Basket) and compelling omnichannel offerings in two of the largest ecommerce categories – lifestyle and consumer electronics – position it well to take market share away from the incumbents,” JM Financial said. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/maruti-suzuki-adani-enterprises-metropolis-idbi-bank-among-stocks-to-watch-out-for-on-june-7/slidelist/92049909.cms">Maruti Suzuki, Adani Enterprises, Metropolis, IDBI Bank among stocks to watch out for on June 7</a> <a href="https://www.businessinsider.in/business/startups/news/flexiloans-com-bags-90-million-to-cover-six-years-of-journey-in-one-year/articleshow/92041187.cms">FlexiLoans.com bags $90 million to cover six years’ of journey in one year</a> <a href="https://www.businessinsider.in/business/corporates/news/indian-corporates-made-a-full-comeback-with-111-billion-profits-but-the-same-cant-be-said-for-2023/articleshow/92033485.cms">Indian corporates made a full comeback with $111 billion profits, but the same can’t be said for 2023</a>

TataNeu could be worth $15 billion all thanks to BigBasket, Croma and Westside

We live in the experience era – a world where a brand’s success depends on the experience it delivers to its customers. Imagine this: Just one bad experience is enough for about 32 percent of customers to stop doing business with a brand they loved (PwC study). Across industries, firms are therefore redirecting their efforts in effectively providing the most relevant experiences to customers across the value chain. A large part of this ‘experience’ approach today is unsurprisingly digital-driven. Digital adoption witnessed a giant leap in the last two years, influenced largely by the global pandemic and changes in customer behavior. Enterprises were too quick to invest on building their digital capabilities to shift to new models to survive when the pandemic hit, recover faster and grow in the post-pandemic economy. Statistics indicate that India’s consumer digital economy is expected to be a US$800 billion market in 2030, with a predicted 10X growth from 2020. And quite clearly, brands understand the necessity to engage their customers through the right digital experiences. The way they interact and involve the customers is evolving in unprecedented ways. <cmsannotation type="cmsannotation" annotationid="Why Digital Experience Platforms?" comment="subhead" text="Why Digital Experience Platforms?">Why <keyword id="2200906" type="General" weightage="20" keywordseo="digital-experience" source="Orion">Digital Experience</keyword> Platforms?</cmsannotation> As brands transition to providing more consistent and comprehensive multi-channel experiences to customers across touch points, Digital Experience Platforms are fast emerging as preferred alternatives. So, what exactly is DXP? Here’s the popular definition coined by Gartner - “A <keyword id="14132028" type="General" weightage="20" keywordseo="digital-experience-platform" source="Orion">digital experience platform</keyword> (DXP) is a well-integrated and cohesive set of technologies designed to enable the composition, management, delivery and optimization of contextualized digital experiences across multi experience customer journeys.” What really stands out in this definition is how disparate pieces promise to come together to serve a common goal – keeping the customer happy! In the digital era, customers expect personalized and always connected experience in real-time. Traditional siloed approaches often come with significant constraints in providing this cohesive experience across channels –web, mobile app, social and even physical touchpoints. That’s exactly why DXP is gaining momentum. It allows for optimum usage and continuous improvement of these various digital channels while providing centralized control over multiple assets. Bridging the gap between multiple technology layers and business functions is the biggest challenge that today’s technology and marketing leaders face. The shift from information silos to a more unified approach makes DXP a compelling proposition for leaders. The key building blocks of DXP include content management, analytics, personalization, digital asset management, and customer data management aligned to meet business goals and innovation. Until now, businesses rely on different digital technologies to meet different goals in this journey. For example, portals for content aggregation, the good-old CMS for content management, analytics for behavioral tracking and so on. With DXP, these technologies meet to provide an integrated and seamless experience to customers across touchpoints while the brand can centrally control these elements. <cmsannotation type="cmsannotation" annotationid="Redefining ‘Xperiences’" comment="subhead" text="Redefining ‘Xperiences’">Redefining ‘Xperiences’</cmsannotation> Brands are rethinking the whole concept of digital experience in today’s market. Their strategies no more revolve around getting more people to buy your products and services through digital channels. Businesses are aiming to be more collaborative and are in the process of shaping a consistent and positive relationship with customers. In the increasingly competitive market with innovative models, there is absolutely no room for error. As brands build products for the Next Billion Users in markets like India, customer engagement is critical. DXP can form the foundation of this engagement model by helping brands to ‘listen’ to their customers, act upon the data more spontaneously and create an experience that every customer can relate to. Quite interestingly, DXP cuts across an organization’s multi-layered experience value chain, addressing customers, employees and partners all at once. Employees especially are key stakeholders in drawing up compelling customer journeys. Employee experience almost always directly influences customer experience. Combining these often-disconnected pieces could potentially transform digital experiences for the better. <cmsannotation type="cmsannotation" annotationid="The way forward" comment="subhead" text="The way forward">The way forward</cmsannotation> The global digital experience platform market size is estimated to reach USD 30.41 billion by 2030, registering a CAGR of 13.3% over the forecast period, according to a recent report by Grand View Research, Inc. Further, the explosion of data, integration of advanced technologies like AI (artificial intelligence), ML (machine learning) and advanced analytics have led to the availability of increasingly sophisticated DXP product offerings in the market. The cloud segment of DXP is expected to grow at higher rates in the coming days. As brands buckle down on deciphering customer needs and fine-tuning customer journeys, DXP is predicted to play a central role. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/which-devices-will-support-ios-16-and-ipados-16-upgrade/articleshow/92050520.cms">iOS 16 update – here are the devices that will support iOS 16 and iPadOS 16</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/business/startups/news/flexiloans-com-bags-90-million-to-cover-six-years-of-journey-in-one-year/articleshow/92041187.cms">FlexiLoans.com bags $90 million to cover six years’ of journey in one year</a>

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FlexiLoans.com bags $90 million to cover six years’ of journey in one year

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