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<ul><li>Women entrepreneurs account for 20% of <keyword id="3082456" type="General" weightage="20" keywordseo="indifi" source="Orion">Indifi</keyword>’s total loan disbursals. </li><li>Indifi said that it has disbursed 50,000 loans to over 30,000 micro <keyword id="44779" type="General" weightage="20" keywordseo="smes" source="Orion">SMEs</keyword>. </li><li>Over 64% of the loans for small business owners is concentrated in east, northeast and south regions. </li></ul> Indifi Technologies, a Gurgaon-based online lending platform, said that it has disbursed 50,000 loans amounting ₹2,800 crores in the last six years. These loans were given to 30,000 micro SMEs. As per the <a href="https://msme.gov.in/sites/default/files/MSME_gazette_of_india.pdf">ministry definition</a>, a micro enterprise’s annual turnover must be below ₹5 crore and its investment in plant, machinery or equipment must not exceed ₹1 crore. “Micro entrepreneurs have historically struggled with access to timely capital but, with advancements in technology and data, the industry today is equipped with great tailwinds to change that,” Alok Mittal, co-founder and CEO said. A fifth of Indifi’s loan disbursals went to women entrepreneurs. Further within the women-led businesses, 25% of the loans were given to first time borrowers and 25% to businesses from tier 2, 3 and 4 cities. The loans that are being disbursed to micro enterprises have been going up. The Non Banking Finance Company-Micro Finance Institute’s (NBFC-MFI) portfolio increased by 36.6% in India from Q3 FY 19-20 to Q1 FY 22-23, according to a report by <keyword id="113684" type="General" weightage="20" keywordseo="microfinance" source="Orion">Microfinance</keyword> Institutes Network (MFIN). “During the first quarter, the sector was occupied with the implementation of new harmonized regulations of the RBI. Despite that the growth has been good and credit quality of post-Covid disbursements are at 95% plus. During the remaining period of FY 22-23, riding on robust branch expansion, pent up demand and conducive policy, the sector is poised for sustainable growth,” MFIN chairperson, Devesh Sachdev said. The report also said that over 64% of the loans for small business owners are concentrated in east and northeast and south regions. The microfinance network is made up of NBFC-MFIs, banks, Small Finance Banks (SFBs), <keyword id="6354598" type="General" weightage="20" keywordseo="nbfcs" source="Orion">NBFCs</keyword> and others (including Non-profit MFIs). As on 30 June 2022, 3.5 crore clients have loan outstanding from BFC-MFIs, which is 13.8% higher than a year before, MFIN reports. In spite of the recent growth, the credit gap to the <keyword id="6393272" type="General" weightage="20" keywordseo="msmes" source="Orion">MSMEs</keyword> is estimated at ₹40 lakh crore, owing to barriers of access, cost, and <a href="https://m.economictimes.com/small-biz/sme-sector/funding-and-msmes-can-banks-fintech-together-address-the-credit-gap-for-small-businesses/articleshow/81087510.cms">underwriting</a>. In India, microfinancing institutions (MFIs) are present in 27 states and five union territories. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/reliance-is-reportedly-planning-to-launch-jiophone-5g-launch-in-india-at-a-very-affordable-price/articleshow/94483655.cms">Specifications of JioPhone 5G with Codename 'Ganga' leaked - check all details here</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/amazons-2022-hardware-event-heres-whats-new-on-kindle-echos-fire-tv-cube-and-halo-rise/articleshow/94532586.cms">Amazon’s 2022 Hardware Event — here’s what's new on Kindle, Echos, Fire TV Cube, and Halo Rise</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sports/news/jasprit-bumrah-ruled-out-of-t20-world-cup-with-back-stress-fracture-report/articleshow/94532793.cms">Jasprit Bumrah ruled out of T20 World Cup with back stress fracture: Report</a>

Gurgaon-based Indifi disbursed ₹2,800 crore worth of loans to small business owners

<ul><li><keyword id="164917" type="PERSON" weightage="20" keywordseo="Saurabh-Srivastava">Saurabh Srivastava</keyword>, Chairman Emeritus, TiE Delhi-NCR and co-founder of NASSCOM, believes this is not the right time for <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">startups</keyword> to give up their equity in a funding round, for they will be valued for much lesser. </li><li>The <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">coronavirus</keyword> pandemic has already hit VC <keyword id="6362476" type="UNKNOWN" weightage="20" keywordseo="investments">investments</keyword> in India. </li><li>Meanwhile, TiE Delhi and <keyword id="3080401" type="PERSON" weightage="20" keywordseo="Indifi-Technologies">Indifi Technologies</keyword>, which lends to startups and SMEs, have come together to provide startups with growth capital.</li></ul>SoftBank Chairman Masayoshi Son during the company's earnings calls today said that he is now going to be 'cautious' with new investments. "Going forward, nobody knows what will happen, especially when it comes to the potential second wave that could be bigger than the first one (coronavirus). We cannot promise that there will not be any additional valuation loss," he said. And Son's fear will be resonated by investors across the world. And that makes it not a good time to raise funds. Closer home too, experts are against the idea. This is not the right time for startups to give up their equity in a funding round, for they will be valued for much lesser, believes Saurabh Srivastava, Chairman Emeritus, TiE Delhi-NCR and co-founder of NASSCOM. “What the startups need now is to scale, it’s hard for them at this time to get any equity infusion and if they do it will dilute them much more than what otherwise it would have done. There aren’t many instruments that they can use, where they can keep their stake,” said Srivastava in a recent chat with Business Insider. Srivastava was referring to the latest option for startups to gain capital – where TiE Delhi and Indifi Technologies, which lends to startups and SMEs, have come together to provide startups with growth capital. The growth capital will be a loan to the tune of ₹10 lakh to ₹2 crore to TiE Delhi-NCR members which will help them meet their working capital requirements amid the Covid-19 crisis and beyond. <div type="twitter" handle="BiIndia" handlename="Business Insider India🇮🇳" image="http://pbs.twimg.com/profile_images/1232926719016718336/sfffJHNV_normal.jpg" favoritecount="10" retweetcount="2" status="#HangoutwithBI | @BiIndia's @iyer_sriram with @alokmittal001, Angel Investor and @TheSaurabhSri, Chairman Emeritus,… https://t.co/BxYpfwT5Eb" createdat="1589443550000" id="1260843750403661824"></div> “This is designed for companies that are in business already, they have a track record of revenues. For an entrepreneur who has a profitable business that can actually scale,” said Srivastava. Alok Mittal of Indifi added that for the loan, that they have set a revenue threshold of ₹10 lakh per month, as an eligibility criteria. India’s startups are vowing by the philosophy to scale in the times of a crisis. Every other day, startups are announcing pivots to new unexplored categories where they hope to see growth. But these pivots and experiments don't come for free. This is also a time when startups need to have the cash that fuels their growth. The coronavirus pandemic has already made investors wary. In the first quarter of 2020, VC investments fell sharply to just $2.2 billion, after garnering $6 billion in the last quarter of 2019, according to KPMG. “VC investors are already starting to ask the question, ‘How will your business be impacted by COVID-19?’ This is a question everyone will be asking for the next few quarters. Here in India, we are beginning to feel the full impact of the virus. Over the next quarter, while the pipeline will likely remain strong, deal flow is expected to slow down. A lot of deals will probably get deferred to the later half of the year,” said Nitish Poddar, Partner and National Leader - Private Equity, KPMG in India in a statement. But Srivastava would like to bet on startups even during this time. “If we were to nurture our startups, they will change the game for India, not just big industry,” he said. See Also: <a href="https://www.businessinsider.in/tech/news/chinese-hackers-are-using-backdoors-to-gain-unrestricted-access-to-companies-and-governments-and-its-not-about-the-money/articleshow/75796403.cms">Chinese hackers are using backdoors to gain unrestricted access to companies and governments — and it’s not about the money</a> <a href="https://www.businessinsider.in/politics/policy/news/india-will-merge-some-government-companies-and-privatise-some-cpse/articleshow/75785709.cms">India will reduce the number of central government companies⁠— some of them will get bigger and some will be sold to private players</a>

Startups who need money during COVID-19⁠— don’t sell your stake now, warn experts

<ul><li>Alok Mittal, CEO, of Indifi Technologies told Business Insider that the new classification of MSMEs brings 90% of his borrowers in the micro segment. </li><li>On May 13, <keyword id="7706673" type="UNKNOWN" weightage="20" keywordseo="finance-minister-nirmala-sitharaman">Finance Minister Nirmala Sitharaman</keyword> announced ₹3 lakh crore collateral-free automatic loans will be made available for businesses, including MSMEs</li><li>The investment limit (to qualify as an <keyword id="6358354" type="UNKNOWN" weightage="20" keywordseo="MSME">MSME</keyword>) has been raised, the criteria to be called MSME will now include turnover. </li></ul>Finance Minister Nirmala Sitharaman on May 13 said that the definition of micro, small and medium enterprises (MSME) will be changed to allow for relatively bigger companies to avail the benefits of cheaper and priority loans. For Alok Mittal, the CEO of the five-year old online lender Indifi Technologies, new classification of MSMEs will make 90% of his borrowers ‘micro’ organisations. <div type="Article" hostid="261" msid="75736580" title="Top highlights from Finance Minister Nirmala Sitharaman's second tranche of COVID-19 stimulus" mstype="2" mssubtype="0"></div> Indifi is a SME focused lending platform. It offers right-fit credit products for MSMEs, improving the standard of risk assessment, and leveraging the supply chain linkages of MSMEs. “Earlier we were spanning across micro and small, but now bulk of our companies actually 90% of them will fall under the micro segment. Earlier it was just 50%. So for platforms like ours, it is very beneficial to have the classification as it allows you certain incentives that otherwise companies were graduating out of,” Mittal told Business Insider India. But there’s a catch... The <a href="https://www.businessinsider.in/india/news/fm-nirmala-sitaraman-announces-six-steps-for-msme-sector/articleshow/75717258.cms">definition of MSMEs</a> is getting changed to allow for benefits to continue even if they grow beyond a certain size. The investment limit (to qualify as an MSME) has been raised, the criteria to be called MSME will now include turnover, and the differentiation between the manufacturing and services has been dropped. "The government needs Parliament nod to change the definition as it has to amend the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006. With Parliament not in session, it will have to bring an Ordinance to implement the announcement," former finance secretary S C Garg <a href="https://www.business-standard.com/article/economy-policy/corona-package-msme-definition-changed-loans-worth-rs-3-lakh-cr-announced-120051301214_1.html">told media houses.</a> Indifi and its peers will gain from stimulus measures too According to the Finance Minister, ₹3 lakh crore collateral-free automatic loans will be made available for businesses, including MSMEs, along with a 4-year tenure, 12-month moratorium available till October 31, 2020. “This will be fully credit guarantee cover for lenders (both banks and non-banking finance companies) on both principal and interest. This is an emergency credit line for small businesses,” she said during her speech on May 13. “The government will buy investment-grade (not high-quality) debt of non-banking finance companies to the tune of ₹30,000 crore,” Sitharaman said. It will be a special liquidity scheme, fully guaranteed by the government, that will keep them afloat and it will benefit the housing sector, she explained. Essentially, it will allow borrowers to stay solvent and tide over the crisis, and therefore, be able to repay the loans taken from the likes of Indifi. “The ₹3 lakh crore lending program that has been announced may not help the lending entities but it will provide survival capabilities to the underlined MSMEs,” said Mittal. SEE ALSO: <a href="https://www.businessinsider.in/india/news/one-nation-one-ration-card-finance-minister-nirmala-sitharaman-promises-subsidised-food-for-migrant-workers-anywhere-in-the-country/articleshow/75738128.cms">One nation, one ration card – Finance Minister Nirmala Sitharaman promises subsidised food for migrant workers anywhere in the country</a> <a href="https://www.businessinsider.in/india/news/from-minimum-wages-for-all-to-social-security-for-gig-workers-these-are-the-broad-outlines-of-upcoming-labour-reforms-in-india/articleshow/75733790.cms">From minimum wages for all to social security for gig workers ⁠— these are the broad outlines of upcoming ‘labour reforms’ in India</a>

The proposed new definition of MSME will make 90% of Indifi’s borrowers ‘micro’, says CEO

<ul><li>The event will be attended by <keyword id="6358887" type="General" weightage="80" keywordseo="amitabh-kant" source="Orion">Amitabh Kant</keyword>, <keyword id="158171" type="General" weightage="80" keywordseo="aman-gupta" source="Orion">Aman Gupta</keyword>, Rajan Anandan and other speakers. </li><li>A report named Indian start-up Ecosystem: Road to Hyperscale TiE - BCG – Times Bridge Report, will be launched at the event. </li><li>Discussions will be held around topics like Path to Profitability, India G20 Presidency, Future of mobility, White Spaces Where India Can Win, Building for Bharat and more. </li></ul>The Delhi-NCR chapter of The Indus Entrepreneurs is organizing a startup conference <keyword id="6069165" type="General" weightage="80" keywordseo="tiecon-delhi" source="Orion">TiEcon Delhi</keyword> 2023 between March 17-18, 2023. This year’s theme ‘Navigating the New World’, is based on the challenges thrown up by the post-pandemic geopolitical scenario, marked by a serious economic downturn. Two reports will be launched at the event – ‘Indian start-up Ecosystem: Road to Hyperscale TiE-BCG–Times Bridge Report’ and ‘Creating 10x Women Founders - Women Entrepreneurship Report’. Geetika Dayal, executive director, TiE Delhi-NCR shares, “We are thrilled to be hosting our annual flagship conference, TiEcon Delhi 2023 themed, Navigating the New World. We have designed sessions, masterclasses and networking formats to equip entrepreneurs and startup founders with the tool kit and knowledge they need to thrive in an ever-changing landscape." TiEcon is a platform for knowledge sharing, networking, and mentorship for entrepreneurs globally. It offers a diverse lineup of speakers including feted founders, key stakeholders, sessions on engaging topics, networking opportunities and curated pitching initiatives. Some of the speakers at the conference include Amitabh Kant, G20 Sherpa, Government of India; Deep Kalra, founder &amp; chairman at MakeMyTrip; Aman Gupta, co-founder and CMO, boAt Lifestyle. It also has speakers like Aditya Ghosh, founder, Homage &amp; co-founder, AkasaAir; Shikhar Dhawan, Indian Cricketer; Alok Mittal, co-founder &amp; CEO at Indifi Tech; Apurva Chamaria, head startups &amp; VC at Google India; Prashant Tandon, co-founder &amp; CEO at TATA 1mg; Lathika Pai, country head, VC &amp; PE Partnerships at Microsoft. The list of speakers also includes Arvind Kumar, director general - STPI; <keyword id="1487014" type="General" weightage="80" keywordseo="suchi-mukherjee" source="Orion">Suchi Mukherjee</keyword>, founder &amp; CEO of LimeRoad; Arjun Vaidya, co-founder of V3 Ventures; Dr Apoorva Sharma, co-founder of Venture Catalysts &amp; 9Unicorns; Shridhar Rajgopalan, MD and lead, Accenture Song and Sustainability, Advanced Technology Centers, India, Accenture; <keyword id="164919" type="General" weightage="50" keywordseo="padmaja-ruparel" source="Orion">Padmaja Ruparel</keyword>, co-founder of IAN &amp; Founding Partner of IAN Fund; Rema Subramanian, co-founder &amp; managing partner at Ankur Capital; Vikram Gupta, founder and managing partner at IvyCap. The event will provide funding opportunities via the ‘TiE the Knot’ platform now in its twelfth season and specialized curated pitches. A set of awards will be presented to recognize exceptional startups like – Knights of Supply Chain award, 15th TiE Lumis Entrepreneurial Excellence Award and 9th TiE - Power2SME Spirit of Manufacturing Awards. "We are looking at very turbulent and very exciting times ahead. As entrepreneurs, we see immense opportunity in everything we are doing, and we see challenges, short-term and long-term, that we have to be ready for what to do, what not to do, how to decide, how to prioritize, how to survive, and then how do we thrive,” said Prashant Tandon, CEO &amp; Cofounder, Tata 1mg &amp; Co-chair, TiEcon Delhi 2023. Google, Sequoia and Microsoft are key partners at this year’s conference. Suchi Mukherjee, founder &amp; CEO, Limeroad &amp; co-chair, TiEcon Delhi 2023 said, “At TiEcon Delhi 2023 you will have ten hours of intense learning, authentic conversations where you can meet founders from across the country. It's a place where founders curate the agenda for other founders. It's a place where corridors are filled not just with pleasantries, but also with deep, authentic conversations about people's experiences. Where breakout rooms are filled with not just standees, but masterclasses of questions that founders often face day-to-day.”

Startup community to come together for TiEcon Delhi 2023 on 17-18 March

<ul><li>The funding round was led by the Asian venture capital arm of SIG, SIG Venture Capital.</li><li>The company plans to utilize the capital to hire senior management personnel across various verticals.</li><li>The fintech company will also be partnering with more <keyword id="6356925" type="General" weightage="80" keywordseo="bfsi" source="Orion">BFSI</keyword> players.</li></ul>Gurgoan-based <keyword id="14914011" type="General" weightage="20" keywordseo="fintech-product-distribution-platform" source="Orion">fintech product distribution platform</keyword> <keyword id="7748061" type="General" weightage="20" keywordseo="GroMo" source="Orion">GroMo</keyword> has raised $11 million in a series A round of funding, led by SIG Venture Capital. The round also saw participation from other key investors — Y-Combinator, Das Capital, Goodwater Capital, Beyond Next Ventures, Soma Capital, Ace &amp; Company and Hauz Khas Ventures. Founded by two IIT Delhi alumni, <keyword id="919453" type="General" weightage="80" keywordseo="ankit-khandelwal" source="Orion">Ankit Khandelwal</keyword> and <keyword id="14912301" type="General" weightage="50" keywordseo="darpan-khurana" source="Orion">Darpan Khurana</keyword>, GroMo is a fintech platform that aims to provide access to financial products to tier 2-3 cities of the country through its network of over 1.2 million agents. The company has also received funding from prominent angel investors like Kunal Shah (Cred), Niraj Singh (Spinny), Ramakant Sharma (Livspace), Alok Mittal (Indifi), Utsav Somani (iSeed, AngelList India), Ashish (Innoven), Abhishek Goyal (Tracxn) and Nitin Gupta (Uni Cards). The company plans to utilize the capital to hire more senior management personnel across technology, product, marketing, business, category management and HR functions. It also plans to double its headcount in the coming 6-12 months. “Our vision is to drive financial inclusion in underserved markets by bridging this gap through face-to-face interaction, hand holding by our agents, and after-sales support. Any financial brand can expand their customer acquisition footprint through our base of trained agents who are able to earn significant income by leveraging their social network,” said Ankit Khandelwal, CEO &amp; co-founder, GroMo. With the help of the recently raised funds, the company will add more partnerships with BFSI players SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/green-buildings-command-rental-premiums-of-13-36-as-demand-grows-jll/articleshow/94030867.cms">Green buildings command rental premiums of 13-36% as demand grows: JLL</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/kfc-pizza-hut-and-dominos-are-going-desi-with-their-menus/articleshow/94030563.cms">The Taste of India: American chains go desi with veg makhani burgers, tandoori tofu subs and achaari pizzas</a>

GroMo raises $11 million, plans to double headcount in 6-12 months

<a href="https://urldefense.com/v3/__https:/www.bcg.com/__;!!JboVxjCXSME!LxsTTKGGzgv_iT2CbYmDMYScfgU4z-WY4Kadi8mhw8OL2wZZfBTQEIvBZhu43CL2uaXk11deO_w52LFXhFf7w2iR$">Boston Consulting Group (BCG)</a> in association with <keyword id="4519251" type="General" weightage="20" keywordseo="Times-Bridge" source="Orion">Times Bridge</keyword> and the Delhi Chapter of The Indus Entrepreneurs (TiE Delhi-NCR) today, unveiled a report titled, ‘Road to <keyword id="16830748" type="General" weightage="20" keywordseo="Hyperscaling" source="Orion">Hyperscaling</keyword> in <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>’. The entrepreneurship and startup landscape in India has witnessed breakout growth over the last few years, transforming India into the third largest startup ecosystem in the world, just behind US and China. Last few years witnessed the rise of 100+ unicorns – a valuation milestone, which has often been celebrated by founders, investors, and media. The impact, however, has been much deeper and broader, with 40K+ active start-ups till FY22. In the last decade several late-stage companies managed to ride the coveted ‘hockey stick curve’, while many more failed, while trying to grow too fast too soon. The report shares learnings from hyperscaling journeys of successful late-stage startups in India. In the context of the evolving macroeconomic environment and the resulting funding winter, the report also provides a framework for emerging startups to align their priorities and hyperscaling aspirations to the new realities. <cmsannotation type="cmsannotation" annotationid="Key highlights from the successful late-stage start-up journeys" comment="subhead" text="Key highlights from the successful late-stage start-up journeys">Key highlights from the successful late-stage start-up journeys</cmsannotation> Leveraging conversations with leading startup founders and investors, the report shares stories of successful Indian and global late-stage startups along eight key themes that helped them hyperscale in India. While there is no one-size-fits-all pathway, the leading founders and investors have uncovered strategies and tactics from setting up the right business model to expanding the target customer groups and harmonizing the unit economics objectives with hypergrowth. For instance, some stories and examples covered in the report include: <ul><li>How Meesho deployed a creative customer acquisition strategy via their reseller business model to target the less trusting and less tech-savvy tier 2/3 city consumers. While many Indian startups struggled to replicate big city success in small towns and had to scale back, Meesho successfully rose with 70% share from Tier 2/3 towns.</li><li>For Policy Bazaar, finding and nurturing mini-founders within an organization was key to unlocking scale and creating leverage for the founders. This allowed them to not just set up and grow new businesses (e.g. Paisa Bazaar), but also build a culture of entrepreneurship, with different business unit owners driving growth and constructive experimentation within their own business scope. </li><li>For the SaaS startup - Icertis, strategic partnerships with top-tier software and professional services players unlock a rapid pace of growth, which they would have never been able to drive alone. Those relationships enabled the start-up to leverage well-established B2B sales ecosystems quickly and, at the same time, add immense value to their partners’ portfolios of offerings.</li><li>Many Indian start-ups have attempted but struggled to scale up businesses successfully in other major international markets. Report also shares inspirations from global leading startups – such as Uber and Airbnb, who managed to successfully adapt their business models to suit the specific local needs of Indian customers. While driving localization, they focused on not just leveraging existing strong global tech platforms, but also exported successful local innovations for India back into the global platforms and playbooks.</li><li>…and many more similar stories that emerging startup founders could learn from!</li></ul>The report not only highlights the success stories of these start-ups but also cautions against the potential pitfalls at the time of hyperscaling. In the euphoria of scaling up, one may attempt to grow too fast too soon, loosen governance and controls, and miss scaling critical tenets that helped them succeed in the first place. <cmsannotation type="cmsannotation" annotationid="The path forward" comment="subhead" text="The path forward">The path forward</cmsannotation> Overall, while picking up learnings from the good-to-great journey of startups in the last decade, one must adapt them to the new market realities and own context as well. Venture funding for startups suffered a 40% drop in 2022. No new unicorn emerged in the last 6 months. To add to that, only 18 out of 100 start-ups are profitable in India, as per 2021-22 estimates. Silicon Valley Bank failure and associated events have further added to the volatility and uncertainty in the near term. The tendency to ‘scale fast’ by burning cash always backfires, if done without clear sight of long-term customer value and unit economics. Survival and extension of the financial runway must be the top priority for startups in these times. There is however a silver lining. Many India focused funds are sitting on large amounts of unallocated dry powder to be deployed at an opportune moment. The younger promising start-ups will continue to attract capital, and so would the well-run late-stage start-ups. Founders may have to be more flexible on valuation in the near term though, as well as be open to alternative sources of funds, such as venture debt. As a leading venture capitalist expressed “This is the best time to build your business if you have sorted out your basics. The worst thing you can do is to want to keep to your old valuation because of ego and lose your market share.” Rohan Joseph, VP, Head of Global Investments and Corporate at Times Bridge, said, "India’s entrepreneurship and technology landscape has seen enormous growth in recent years, making it the world’s third-largest startup ecosystem. This report showcases the innovative strategies deployed by leading startups and global companies as they scale up in India’s dynamic business climate. At Times Bridge, we enable purpose-driven companies to enter India, and this report reaffirms our conviction in the market’s potential for entrepreneurs across all sectors." Sidharth Madaan, a Partner at <keyword id="144900" type="General" weightage="20" keywordseo="BCG" source="Orion">BCG</keyword>, opined, “Time and again, we have seen the well-run start-ups emerge significantly stronger with reduced competition out of a crisis. In the current volatile environment as well, start-ups with stronger business models, unit economics, customer retention, and sharper growth focus will not just be able to stay afloat, but also consolidate their lead and emerge as leaders on the other side of the crisis.” “How ephemeral can time be. When we started our interviews and research for this report late last year, funds were aplenty, valuations were skyrocketing, and growth was the only objective in one’s mind. And within a few months, while growth is still the holy grail, other parameters like strong business models, customer retention and above all, unit economics, have assumed centre stage. Those start-ups that will be able to juggle all of these without dropping any balls through this period of crisis are the ones that will come out stronger and as leaders from the current volatile environment,” says Rajiv Gupta, MD, Senior Partner and Leads Technology, Media and Telecom for BCG India. “The Indian Startups story has entered a new era with a focus on creating scalable yet sustainable startups with a clear path on profitability. Hyperscaling is integral to this journey. For over 2 decades at TiE Delhi-NCR we have witnessed the rise and rise of the startup ecosystem in India and have played a key role in its development. The report shows our commitment to fostering the spirit of entrepreneurship for the new economy," said Alok Mittal, Co-Founder &amp; CEO, Indifi Tech and Board Member <keyword id="2555716" type="General" weightage="20" keywordseo="TiE-Delhi" source="Orion">TiE Delhi</keyword> – NCR. The founders and leaders need to ensure survival as well as keep one eye on the future. While managing burn will be critical on one end, one must capture opportunities smartly to invest and grow in the long term. <a href="https://www.bcg.com/publications/2023/road-to-hyperscaling-in-india">A copy of the report can be downloaded here.</a>

Hyperscaling in turbulent times: A BCG - Times Bridge – TiE Delhi-NCR report

It is widely acknowledged that the micro, small and medium enterprises (<keyword id="6358354" type="General" weightage="20" keywordseo="MSME" source="Orion">MSME</keyword>) sector has become the central nerve of <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>’s economy in these past few decades. The glaring asymmetry between the MSMEs that require credit and those that receive it has also not gone unnoticed. NBFCs have become a pivotal part of the mechanism in closing this gap, by widening the reach of financial services thereby enhancing MSMEs’ resilience. NBFCs are slowly but surely gaining a foothold in the Indian financial system. They are the <a href="https://rbidocs.rbi.org.in/rdocs/Bulletin/PDFs/01AR101017F2969F6115EB4B5992BD73976F9A905D.PDF">biggest</a> receivers of funds on a net basis, even surpassing banks. The double-digit growth in credit that NBFCs accomplished while banks were facing a decline in credit as a result of asset quality stress, should be an indicator of their central role as credit providers in India’s financial system. Within the MSME lending segment, NBFCs have <a href="https://www.statista.com/statistics/1243029/india-market-share-of-lenders-for-msme/">witnessed</a> a stable 13% market share (as of 2020). NBFCs are increasingly preferred by borrowers owing to their increased ability to reach remote areas and in making quicker decisions, providing prompt services and having expertise in niche segments. According to the <keyword id="247408" type="General" weightage="80" keywordseo="world-bank-programme" source="Orion">World Bank Programme</keyword> <a href="https://www.financialexpress.com/budget/msme-eodb-budget-2022-rs-6000-crore-ramp-programme-for-msmes-to-be-rolled-out-in-five-years-says-fm-sitharaman/2422280/">appraisal</a> document for the Raising and Accelerating MSME Performance (RAMP) programme, over 40% of MSMEs lack access to formal sources of finance. As a result of lacking proper accounting systems, updated financials, and proper documentation, a large number of MSMEs borrowers are excluded from the traditional lending ecosystem. From the perspective of larger lenders, thin-file customers often require a greater degree of support and hand-holding. This combination of smaller ticket size geographical dispersion of such MSMEs makes it economically not viable to serve these markets. For India to step confidently into the future, servicing the credit needs of India's 60 million MSMEs without any access to formal credit is paramount. Digitally-led NBFCs remain key in this mission as in their case. They are expanding access to credit through credit models like the cash flow based model. This makes such NBFCs the go-to lenders for borrowers who have the means but are disqualified as per the traditional credit assessment process. There is an evolution of partnership models between NBFCs leveraging their distribution strength and superior customer underwriting with larger banks that have cheaper capital and better risk management processes. Such access to credit is further augmented by digital lenders that have built efficient and scalable outreach to credit-starved MSMEs. The data driven credit models such digital lenders use allow better risk calibration. This is demonstrated by the improving credit performance of these lenders after the Covid-induced stress. <cmsannotation type="cmsannotation" annotationid="Online NBFCs and digital SME lending: Key step towards universal credit access" comment="subhead" text="Online NBFCs and digital SME lending: Key step towards universal credit access">Online NBFCs and digital SME lending: Key step towards universal credit access</cmsannotation> Online NBFCs are taking this aim of reach and access one step ahead through tech-enabled solutions. They have widened the scope of what credit could be, and enabled the reach of credit to underserved customers across different parts of the country. Leveraging alternate data sets, innovative approaches to credit underwriting and offering customised products with a lower turn-around time have also made digital lenders more suitable in enabling access to credit to the MSME borrowers. They are displaying a new confidence in lending to small businesses through varied approaches. One such approach is ‘ecosystem-based lending’. Accessing business loans that are digitised end-to-end is logistically easier for MSMEs that are in tier 3 &amp; 4 cities and may not have the same bank branch options that bigger cities do. The ecosystem based approach to lending involves partnering with digital ecosystems such as Amazon, Google Pay, Zomato and leveraging the information about the MSMEs available with these technology platforms. The approach also allows usage of segment-specific indicators around revenue, customer ratings/reviews, and transaction business volume to arrive at a composite credit model. Thus, proprietors in small towns can seamlessly access credit that was previously available to them in only physical bank branches that are flush with liquidity but inaccessible to MSME borrowers. This access has further been enhanced through solutions like E-NACH, CKYC/OKYC, E-Sign, Video Sign. The alternate data sets digital lenders use for credit modelling sidestep the need for collateral and documentation that many MSMEs may not have. This is how an ‘ecosystem-based’ approach to lending takes accessibility one step further. There is still much distance to be covered in terms of completely closing the MSME <keyword id="7804914" type="General" weightage="20" keywordseo="Credit-gap" source="Orion">credit gap</keyword>. The onus falls on start-ups and the innovation ecosystem to create digital tools and strategies that leverage MSMEs digital footprints and ecosystems. Regardless, in terms of reaching the fringes of the financial system, NBFCS (both online and offline) are rightfully giving credit where credit is due. The author is the founder and chief executive officer (CEO) of online lending firm Indifi Technologies. Disclaimer: The opinions expressed are of the author and do not necessarily reflect the views of the Business Insider India.

OPINION: Why NBFCs remain key to closing the MSME credit gap

<ul><li>The round was led by Elevation Capital, along with <keyword id="2457593" type="COMPANY" weightage="20" keywordseo="India-Quotient">India Quotient</keyword>, <keyword id="8830555" type="UNKNOWN" weightage="20" keywordseo="titan-capital">Titan Capital</keyword> and <keyword id="9908413" type="UNKNOWN" weightage="20" keywordseo="first-cheque">First Cheque</keyword>.</li><li><keyword id="10331594" type="UNKNOWN" weightage="20" keywordseo="Yellow-Class">Yellow Class</keyword> plans to expand its presence in 500 cities in India and international markets.</li><li>The company claims to have over a million students listed on the platform and it plans to onboard 9 million more by next year.</li></ul><keyword id="1464841" type="PERSON" weightage="20" keywordseo="Edtech">Edtech</keyword> startup Yellow Class has raised $6 million in a Series A round led by Elevation Capital, with participation from existing investors India Quotient, Titan Capital and First Cheque. Other participants of Yellow Class’ Series A round include Meesho’s cofounder Vidit Aatrey, Indifi’s founder Alok Mittal, Bounce cofounder Vivekananda Hallekere, <keyword id="2808667" type="PERSON" weightage="20" keywordseo="OYO">OYO</keyword>’s global chief strategy officer Maninder Gulati, OYO’s chief operating officer Abhinav Sinha, PropTiger’s chief executive Dhruv Agarwala and Xiaomi Indonesia’s country director Alvin Tse. Yellow Class will use the funds for improving the product experience for both parents and children, developing more content and building brand awareness. A part of the funding would also be used to hire for leadership roles across the product, technology and engineering verticals as it plans to expand to 500 cities in India and international markets. In November 2020, it had raised $1.5 million in a seed round led by India Quotient. The company was founded in 2020 by Anshul Gupta and Arpit Mittal to offer extracurricular and co-curricular classes to students between 3-12 years of age. The company currently offers courses across 40 categories like art, craft, dance, yoga, general knowledge, logical reasoning and more. These courses are taught by experienced mentors including influencers, professionals and celebrities. Each class is attended by 10,000 children simultaneously and the platform has over a million students registered on its platform. The company aims to onboard 10 million monthly active teachers in the next one year. Yellow Class’ founders Gupta and Mittal, in a joint statement, said, “Studies have shown that more than 100 million Indian kids below 13 years of age spend an average of 100 hours per month on YouTube and other similar platforms. Parents are actively looking for better, interactive alternatives that would be beneficial for their child’s cognitive growth.” The company claims to have grown 18-fold in the last six months and plans to build new categories of extra/co-curricular classes on its platform. It is also looking to incorporate classes in vernacular languages, driving social peer-to-peer engagement and ensuring deeper progress tracking. SEE ALSO <a href="https://www.businessinsider.in/retail/news/a-third-of-internet-users-would-be-actively-shopping-online-by-the-end-of-this-decade-offline-retail-to-take-a-back-seat/articleshow/85390712.cms">A third of internet users would be actively shopping online by the end of this decade, offline retail to take a back seat</a> <a href="https://www.businessinsider.in/business/startups/news/with-pharmeasy-mobikwik-and-ixigo-all-set-to-hit-the-public-market-orios-plans-to-go-deeper-into-pre-ipo-bets/articleshow/85359703.cms">With PharmEasy, MobiKwik and ixigo all set to hit the public market, Orios plans to go deeper into pre-IPO bets</a>

Edtech platform Yellow Class raises $6 million in a funding round led by Elevation Capital

New Delhi, May 2 () Internet companies like Urban Company, MakeMyTrip, Dunzo, HealthifyMe and Zomato are changing their social media handles and app icons to promote wearing face masks as a hygiene practice amid the COVID-19 pandemic. Apna Mask initiative -- an effort by StartUpVsCOVID (a startup community with over 1,000 members) -- is promoting homemade masks and aims to drive behavioural change to ensure that people wear masks and stay protected as they step out of their homes. The #ApnaDeshApnaMask campaign was kicked off by startup industry stalwarts like Rajan Anandan of Sequoia India, Paytm's Vijay Shekhar Sharma, Alok Mittal (Indifi), Vishal Gondal (GoQii) and others. They were later joined by celebrities like Vidya Balan, Dia Mirza, Juhi Chawla, Divya Khosla Kumar, Juhi Parmar, Deepshika Deshmukh, Sonu Sood, Shama Sikander, Preetika Rao and others. Within a span of two weeks, the initiative has garnered 100 million outreach across digital platforms, including WhatsApp, Twitter, Facebook and Instagram. The team working on the campaign also reached out to various organisations to support the initiative, especially as parts of the country get ready to come out of the lockdown which has been extended till May 17. "Urban Company, MakemyTrip, Dunzo, HealthifyMe, Zomato, Redbus, Ixigo, MoneyTap, MyUpchaar, Bounce, RazorPay, Medanta, WittyFeed, LBB, Porter, Meesho, Daily Hunt, 1mg, Paytm Games have changed their social media handles while some are changing the app icons as well," a statement said. These brands are also inviting more companies to join the initiative. "Given the immense response we have received, we will have more brands join #ApnaMask in this critical initiative. We believe some of these steps will be helpful in building habit changing behaviour towards wearing homemade masks," Poonam Kaul, co-founder of ApnaMask, said. In a separate statement, Crowdera -- an online fundraising platform -- said it is offering its premium syndicated fundraising technology solutions for free to companies and NGOs working to help the COVID-19 affected individuals, families and health workers. "Crowdera will be extending its support through offering its products and services worth almost USD 150,000 (Rs 1 crore) free to organisations aiding the affected...The solution will help corporations and NGOs to quickly syndicate with their own employees, influencers, other foundations, or charity partners to raise funds 10X more than through a regular crowdfunding campaign," it said. Under this pledge, Crowdera has already extended its support to companies like Rapido, Repos, BYJU'S, SirfTaxi, and Tartl to engage their employees and partners in fundraising for the COVID-affected workforce. SR ABMABM

Apps don face masks to promote healthy practices amid COVID-19

The Delhi chapter of <keyword id="139680" type="COMPANY" weightage="20" keywordseo="The-Indus-Entrepreneurs">The Indus Entrepreneurs</keyword> (TiE) will host on Thursday the 8th iteration of the <keyword id="4390638" type="PERSON" weightage="20" keywordseo="India-Internet-Day">India Internet Day</keyword>, one of the largest conferences for Internet entrepreneurs in the country. India Internet Day 2019 targets entrepreneurs which attracts start-ups, unicorns, industry leaders, investors, mentors, policy-makers, and many more key domain experts from across the country every year India is presently home to over 500 million internet users and 21 unicorns. With the aim of raising a hundred start-ups and enterprises to become billion-dollar companies on the back of their internet-centric innovations, TiE Delhi-NCR is hosting the 8th iteration of India Internet Day. The vision of #iDay2019 is encapsulated in the headline of the event’s main theme: “India Internet Unboxed: Getting ready for a 100 Unicorns”. Enabling the next generation of leaders At iDay 2019, leaders of the internet and entrepreneurial community will deliver content for the benefit of young entrepreneurs, enabling the next generation of leaders to gain a deeper insight into the opportunities and evolving trends in the industry, Tie said in a statement. Building on the theme of ‘unboxing’, iDay2019 plans to have focused and thought-provoking discussions during the session line-up on topics including: Unboxing Indian Tech Going Global, Unboxing Funding, Unboxing Talent, Entrepreneurial Milestones: Unboxing Pivots &amp; Pirouettes to Exits, Unboxing 2nd Innings, Unboxing Valuations. It will also have a special focus on the Chinese startup ecosystem, key speakers will speak on Unboxing China, its Landscape &amp; Overview, Chinese VCs in India - A perspective and Cross Border Learnings. Additionally, entrepreneurs will be provided with a platform to showcase internet-centric innovations and get constructive feedback on their ventures. All about networking The conference is one of the most anticipated entrepreneurial conferences across the world as it gathers entrepreneurs and vision-holders in the midst of key investors, industry leaders, and policy-makers under the same roof. It will have sessions that will chaired by prominent industry leaders including Vani Kola, MD, Kalaari Capital, and Rajesh Sawhney, CEO &amp; Co Founder of Innerchef, the conference will open with a keynote address by Vijay Shekhar Sharma, Founder &amp; CEO of PayTM. The opening address will be followed by conversations with industry experts including Anant Maheshwari, President - Microsoft India and Rajan Anandan, Vice President, Google &amp; President, TiE Delhi-NCR. Other ace speakers include Lathika Pai, Country Head - Microsoft for <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">Startups</keyword> MENA and SAARC , Gaurav Deepak, Co-founder &amp; MD - Avendus Capital, Anand Lunia, General Partner – India Quotient, Helen Wong, Partner at Qiming Venture, Yun Lou, Founder &amp; CEO of Clubfactory, Hans Tung - Partner, GGVC Kunal Shah, Founder &amp; CEO – Cred, Amrish Rau, Ex CEO – CitrusPay, Aprameya Radhakrishna, Founder &amp; CEO of Vokal, Raul Rai, Co-Founder of Nicobar.com, and Mukund Kulashekaran from Urban Clap. Power Breakfast with the iDay Committee The event will kick off with a breakfast with industry leaders and the best in the startup ecosystem. The committee members who will be a part of this event include Rajan Anandan, Vice President, Google &amp; President, TiE Delhi-NCR; Alok Mittal, Co-Founder, Indifi Technologies; Amarjit Singh Batra, Managing Director, Spotify India; Arvind Jha, Multipreneur, Movico Technologies; Miten Sampat, VP, Times Internet; Deep Kalra, Founder &amp; Group CEO, MakeMyTrip; Gautam Gandhi, Angel Investor; Prasanto K Roy, Policy Consultant ; Karan Mohla, Partner &amp; Executive Director of Chiratae Ventures; Ravi Gururaj, Founder &amp; CEO, Qikpod; Dev Khare, Partner, Lightspeed India Partners. B2B Founders' Lunch Ace B2B founders who will be part of this session include Shridhar Gupta, Co-Founder - Loconav; Pranav Tyagi, Founder - Eigen; Ajay Chauhan, Co- Founder -SalezShark; Sachin Bhatia, Co-Founder &amp; Ex VP - Drishtisoft solutions; Rahul Bhalla, CEO &amp; Co Founder -Zeanatix will be part of the lunch tables Fintech Lunch Leading Fintech founders who will be part of the lunch include Ajay Vikram Singh, Consumer Business Head- Clix Capital ; Jonathan Bill, CEO &amp; Co- Founder – Creditmate; Kshitij Puri, CEO &amp; Co- Founder - Ziploan ;Sandeep Srinivas, Co-Founder &amp; CMO - Redcarpet Tech ; Kapil Mehta, Co - Founder – SecureNow; Alok Bansal, Co-Founder &amp; CFO – PolicyBazaar ; Mukesh P Kalra, Founder &amp; CEO – ETMoney #iDay Launchpad A platform at India Internet Day where tech businesses have a chance to demo/launch their new products/services in front of a large relevant audience of VCs, entrepreneurs etc. The start-ups will be selected by an influential jury panel #iDay Workshop A stellar workshop on product management professionals with Anshumani Ruddra, VP of Product (Social &amp; Gaming) – Hotstar will equip participants with new strategies &amp; principles to ace their field Gala Evening Network, interact, explore synergies over dinner and jive the evening away with a rocking band performance! The conference will take place from 8:00 am to 6:00 pm on 25th April, 2019, at Leela Ambience, Gurugram. Register here now! <a href="https://www.iday.in/">https://www.iday.in/</a> Note: Business Insider India is a media partner at the event.

Here’s all that you need to know about the upcoming India Internet Day 2019

<ul><li>Startups in India raise multiple rounds of funding even before reaching series A stage, diluting their equity in the process. </li><li>However, they have learnt a lesson and are now holding on to equity. </li><li>Investors too believe startups should not give away large equities early on.</li></ul>Indian startups aren't afraid of not finding funding anymore – but in return they might be giving up stakes in their own companies a lot sooner than they should. A growing worry in the Indian startup community is that many early stage startups are increasingly giving up equity – or ownership in companies – too quickly. That often leads to the founder-entrepreneurs eventually having little or no say in those startup in the later stages. The issue of dilution of equity is especially significant now as more and more startups are seeing multiple rounds of funding even before they reach the ‘series-A stage,’ leading to the crowding out of investors. “So very often the founding team is 25% or lesser by series A. This is something that affects entrepreneurs and investors alike. If the founders have given up 70-80% of the company at Series A, it’s still a journey of 8-10 years after that to get to being a sizeable company. Founders need to have that incentive to continue for long,” said Alok Mittal, a prominent angel investor and co-founder of Indifi technologies. Driven by the mushrooming of startups in India, and partly the success of few Indian unicorns, several investors including venture capital firms are increasingly chasing promising companies with potential for innovation or success at the early stages. A total of 386 companies got seed funding in 2018 for a total amount of $303.72 million. Only few years ago VCs had restricted themselves to late-stage startups and tighter due diligence that included investing in companies with large revenue base and market share. And now VCs are investing both directly or through accelerator programs. Recently, Sequoia India launched Surge, an accelerator program for early-stage startups – showing its clear interest in creating a roadmap for Indian startup founders in the early stages. Startups, for their part, don’t seem to mind giving up equity just to have a bigger VC in their kitty, say experts. One of the consequences of giving up too much equity quickly is losing control of the company. A recent conversation on Twitter included the top VCs discussing the dilution of equity of startups in the early stage. Shailendra Singh of Sequoia tweeted, “Met a promising company yesterday that diluted 35% in seed round for ~$1M... this was ok 5 years ago, but hope this changes now” (sic), to which Siddharth Pai of 3one4 capital replied that startups “Must not dilute more than 8-10% on seed round as it will no longer be aligned with founders vision.” Another reason why entrepreneurs seem to give up equity sooner is underestimating how the company might fare in the future – in the early stage, startups are still looking at finding their way through the business, for instance. “But in the beginning, we take equity dilution etc casually, only understanding about it later, in hindsight. At that point of time, when the business picks up, how your cap table looks becomes as important to the investor as everything else,” said Akshay Chaturvedi, co-founder of edutech startup Leverage Edu. In Leverage Edu’s case, even though the startup did not raise capital on ‘day zero’ however, after a certain while, as the company started to pick scale, it decided to pick money mostly from ‘angels who they knew’ instead of venture, since it did not wanted to dilute as would happen in a proper round, wanted more time to build around the fundamentals etc. “With a lot of things in place, and when ready to scale, Leverage Edu raised a VC round that was led by DSG Consumer Partners and Blume Ventures. I had worked in startups before, so that definitely helped,” he said. However, most early stage investors will not worry about early stage dilution as long as the valuation is on an uptick, said Mittal adding that the issue is when the overall level of dilution is high. As funding availability has grown in the country, at least startups have learnt the lesson the hard way – to not head for funding when there is no revenue, product road map or validation. “We raised seed funding without these and so we didn't have much leverage to negotiate on the valuation and ended up diluting quite a bit. Back then, we thought 50L was a big amount but in reality it was not. Within a year we were again desperate for next round of funding. So when someone is raising money they need to raise an amount which would at least give 2-3 years runway,” said Naren Krishna Madhurakavi, founder of Stockroom.io. There’s also an argument presented by investors. With more and more successes being witnessed in India, startup founders believe that smaller equity could be lucrative as well. “Interestingly enough when startups see examples of successful companies say when a Flipkart is acquired by <keyword id="80487" type="COMPANY" weightage="20" keywordseo="walmart">Walmart</keyword>, it encourages them to scale up faster and dilute as well because then even a small percentage of equity can be cashed out for a large sum,” said Mittal.

You Searched For "Indifi Technologies" and got 11 results

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