Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li><keyword id="6553953" type="UNKNOWN" weightage="20" keywordseo="creditbee">CreditBee</keyword> is reportedly <keyword id="874458" type="LOCATION" weightage="100" keywordseo="Xiaomi">Xiaomi</keyword>’s new <keyword id="3088449" type="PERSON" weightage="20" keywordseo="micro-lending">micro lending</keyword> platform in India. </li><li>Experts expect India’s <keyword id="2461546" type="PERSON" weightage="20" keywordseo="FinTech">fintech</keyword> industry to double in the next two years.</li><li>The service will issue <keyword id="1628688" type="PERSON" weightage="20" keywordseo="micro-loans">micro loans</keyword> at a 3% rate of interest for a period of 90 days. </li></ul>Chinese smartphone maker Xiaomi is launching their new lending platform in India. The micro-lending product is named CreditBee since the service has been launched in partnership with <keyword id="3538270" type="PERSON" weightage="20" keywordseo="KrazyBee">KrazyBee</keyword>. The company has yet to make an official announcement, but a source speaking to <a href="https://tech.economictimes.indiatimes.com/news/internet/xiaomi-launches-its-first-lending-product-in-india/64282329">ETtech</a> claimed that the platform is already live and the company will officially unveil it in the coming weeks. Microloans are essentially loans of small value issued at a low rate of interest. Over the past couple of years, it’s become quite an attractive <a href="https://www.moneycontrol.com/news/business/personal-finance/7-emerging-lending-options-you-should-explore-to-raise-funds-2566149.html">alternative</a> for under-represented groups or start-ups, who don’t necessarily require a huge loan. On CreditBee, consumers will be able to avail loans <a href="https://inc42.com/buzz/xiaomi-launches-lending-product-creditbee-with-krazybee/">starting</a> from ₹1,000 to ₹100,000. The term of the loans is 90 days, at an interest rate of 3 percent. Their target audience is salaried professionals who need short-term, small amount loans. KrazyBee, Xiaomi’s partner for this venture, is amongst the companies Xiaomi invested in. It was only last year that they <a href="https://tech.economictimes.indiatimes.com/news/startups/krazybee-raises-8-million-from-xiaomi-tech-and-others/61111187">led</a> an $8 million round for the company, which is based out of Bengaluru. And now, Xiaomi may even be <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/xiaomi-is-in-advanced-talks-to-pick-up-stake-in-zestmoney/articleshow/63675367.cms">looking</a> into making a second investment in the fintech industry with <keyword id="6414960" type="UNKNOWN" weightage="20" keywordseo="ZestMoney">ZestMoney</keyword>. ZestMoney is the company that fuels EMI-loans on Mi.com at the moment. Reports <a href="https://tech.economictimes.indiatimes.com/news/mobile/xiaomi-is-in-advanced-talks-to-pick-up-stake-in-zestmoney/63675487">indicate</a> that the former is looking to raise around $20 million through Xiaomi and its existing investors, like PayU. It’s not surprising that Xiaomi is looking at the fintech industry. The company already has a few lending platforms back home in China. Also, it had <a href="https://www.techradar.com/news/xiaomi-plans-to-launch-6-new-smartphones-expand-its-non-smartphone-portfolio-in-2018">indicated</a> earlier that it would like to expand its business beyond the smartphone arena and build a non-smartphone portfolio. With the country’s demographic dividend hitting its peak, more and more products are being targeted towards salaried individuals. Experts <a href="https://www.financialexpress.com/economy/economic-boom-in-india-coming-soon-massive-number-of-consumers-eligible-for-credit-heres-what-it-means/1175548/">speculate</a> that there are nearly 150 million consumers who aren’t 'credit active' right now but are eligible to turn into retail credit borrowers. Their analysis suggests that tapping into that potential could result in big growth opportunities for companies in the lending industry, which in turn will provide a boost to the economy. That being said, India has <a href="https://www.foxbusiness.com/markets/the-10-countries-where-people-save-the-most-money">historically</a> been a savings oriented nation, though that trend has been slowly been <a href="http://www.ey.com/Publication/vwLUAssets/ey-the-battle-for-the-indian-consumer/$File/ey-the-battle-for-the-indian-consumer.pdf">reversing</a> since the dawn of liberalisation and privatisation in 1992. With the fintech software market set to <a href="http://www.nasscom.in/knowledge-center/publications/fintech-india-global-growth-story">double</a> to $2.4 billion by 2020 from the current $1.2 billion, the transformation will only gain momentum. Currently, India is the biggest market for Xiaomi, second only to China. The company’s Indian operations even <a href="https://economictimes.indiatimes.com/tech/hardware/xiaomi-turns-profitable-in-third-year-in-india/articleshow/61954734.cms">started</a> turning a profit in FY 2017, which marked Xiaomi’s third year in the country with sales of around ₹8,379 crore.

After conquering the smartphone space, Xiaomi now wants to enter India’s fintech industry

The <keyword id="22639470" type="General" weightage="20" keywordseo="Adani-One-app" source="keywords">Adani One app</keyword>, developed by <keyword id="19898586" type="General" weightage="20" keywordseo="adani" source="keywords">Adani</keyword> Digital Labs Ltd, was launched in December 2022. The app was primarily launched to provide services for <keyword id="19955648" type="General" weightage="100" keywordseo="Adani-Group" source="keywords">Adani Group</keyword>’s airport vertical. Users can book flights, check the status of their flights, go shopping for duty-free products and more. Since then, the app has come a long way. For instance, the Adani One app has already integrated bill payment services and also launched a co-branded credit card in collaboration with ICICI Bank. And now, reports are that the <keyword id="20028332" type="General" weightage="20" keywordseo="super-app" source="keywords">super app</keyword> is working to offer loans through its platform. This will be made possible by partnering with digital lending firms and non-banking financial companies (<keyword id="19938300" type="General" weightage="20" keywordseo="NBFCs" source="keywords">NBFCs</keyword>). <h2>Adani One app to provide personal loans?</h2>According to a report in Moneycontrol, the Adani One app will start to offer personal loans through pilot projects in collaboration with digital lending firms and non-banking financial companies (NBFCs). The app has partnered with KrazyBee Services, a subsidiary of KreditBee, to facilitate personal loans ranging from Rs 1,000 to Rs 5 lakh. Adani Digital Labs will act as a lending service provider (LSP) in this partnership. As of the latest report, Adani One achieved a gross merchandise value (GMV) of Rs 750 crore for the financial year ending March 2024 and has a user base of 30 million. The company aims to reach 500 million users by 2030. Adding more services to its super app, therefore, seems to be a step in this direction. The Moneycontrol report also adds that Adani One is also in discussions with other NBFCs and fintech companies to broaden its credit product offerings. The exact commission rates for loans will vary based on agreements with partners. This move is part of Adani Group's broader strategy to enhance its super app, which now includes a range of services beyond its original focus. <h2>What is a Super app?</h2>A Super app often acts as a one-stop solution for various needs. For instance, an app that allows you to buy movie tickets, book flight tickets, make payments etc will be called a super-app. Apart from Adani One, there are various other super apps like Tata Neu, and <keyword id="19957624" type="General" weightage="20" keywordseo="myjio" source="keywords">MyJio</keyword>. Interestingly, KreditBee, which Adani group is reportedly partnering with, is also a lending partner for Tata Neu.

Thinking of getting a personal loan? Adani group might have something for you

<ul><li>The company will be hiring across the board, especially focusing on engineering, data science and AI roles.</li><li>It has raised over $83 million to date and counts Valar Ventures as well as IA Ventures as investors.</li><li><keyword id="3711711" type="General" weightage="20" keywordseo="simpl" source="Orion">Simpl</keyword> has disbursed more than 49 million loans in the ‘Buy Now, Pay Later’ space, as per a Macquarie report.</li></ul>Bengaluru-based fintech startup Simpl has raised $40 million in funding, the company’s founder and chief executive officer (CEO) Nitya Sharma told Business Insider. The company — which offers buy now, pay later (<keyword id="9522245" type="General" weightage="20" keywordseo="bnpl" source="Orion">BNPL</keyword>) services — plans to use this capital to hire aggressively across the board, especially focusing on the engineering, data science and artificial intelligence (AI) departments. The company has a team of 150 and it plans to double the team size. “We are growing very aggressively. So, we’ll be investing in the growth of the platform,” he added. The Series B funding round was led by Valar Ventures and IA Ventures with participation from LFH Ventures and other existing investors. With this, the company has raised over $83 million to date. Simpl was founded in 2018 by Nitya Sharma and Chaitra Chidanand. The company enables merchants to offer simple payments solutions to their customers. <div type="image" title="Amazon and Flipkart’s biggest rival in ‘Buy Now, Pay Later’ just raised $40 million" msid="88027213" hostid="261"></div> According to a report by Macquarie, published last month, Simpl has disbursed more than 49 million loans in the ‘Buy Now, Pay Later’ space. It has recorded more transactions than Flipkart Pay Later, Amazon Pay Later and Paytm Postpaid. The report also noted that it is among the biggest BNPL players in terms of active user base. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></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;">Company </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;">Active User Base </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;">Simpl </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;">7 million </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;">ZestMoney </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 million </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;">Krazybee </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 million </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;">LazyPay </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 million </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;">Mobikwik </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 million </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: Macquarie Paytm may be among the largest players in the digital payments space with over 120 million users, but its user base is spread across unified payments interface (UPI), wallet payments, financial services, ecommerce, and more. The company aims to make money from its lending business. “Since Paytm will largely be engaged in selling down these loans to partner banks or NBFCs (non-banking financial companies) balance sheets, the addressable fee pool is much lower,” said Macquarie. A Redseer report added that the BNPL market is nascent in India, valued at $3-3.5 billion that could grow 15-fold over the next five years to $45-50 billion. Simpl’s flagship product is the one-step “Pay Later” option, which allows customers to delay the payment of the product they have purchased for 15 days. The payments solution can be used to purchase food, apparels and more. The company also allowed the users to make bill payments online. Its latest offering includes “Pay-in-3”, which allows customers to make the payment of their purchases in three equally payments every month. It claims that their monthly active user base has grown nearly 10-fold in the last 18 months. It works with over 7,000 category leading online merchants such as Zomato, MakeMyTrip, BigBasket, Jio Platform, 1mg, Crocs and more. "We built a fullstack checkout platform that gives merchants ultimate control of user experience and helps them build trust with consumers at checkout. Simpl is like a Khata (account) or a Tab for online commerce. This intuitive user experience, built on the bedrock of trust, will enable a larger ecommerce market and will lead to greater adoption of mobile payments in India and the rest of the world," Sharma added. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/kunal-shahs-cred-buys-corporate-expense-management-company-happay-for-180-million/articleshow/88025009.cms" data-type="tilCustomLink">Kunal Shah’s CRED has spent $180 million to acquire Happay, a corporate expense manager for Byju’s, OYO and more</a> <a href="https://www.businessinsider.in/stock-market/news/tega-industries-ipo-opens-today-and-gmp-at-310/articleshow/88017369.cms">Tega Industries’ ₹600 crore IPO opens today; GMP at ₹310</a> <a href="https://www.businessinsider.in/science/news/high-speed-space-junk-risk-prompts-nasa-to-abruptly-delay-spacewalk-on-the-international-space-station/articleshow/88018185.cms">High-speed space junk risk prompts NASA to abruptly delay spacewalk on the International Space Station</a>

Amazon and Flipkart’s biggest rival in ‘Buy Now, Pay Later’ just raised $40 million

Bengaluru, Bengaluru-headquartered <keyword id="2461546" type="DOMAIN" weightage="20" keywordseo="FinTech">FinTech</keyword> lending startup <keyword id="6557529" type="UNKNOWN" weightage="20" keywordseo="KreditBee">KreditBee</keyword> on Monday said it has concluded its Series C equity round worth $75 million (about ₹545 crore) from <keyword id="648852" type="LOCATION" weightage="20" keywordseo="Premji-Invest">Premji Invest</keyword>, Mirae Asset Naver Asia Growth Fund, Alpine Capital and <keyword id="9361494" type="COMPANY" weightage="20" keywordseo="Arkam-Ventures">Arkam Ventures</keyword> consisting of both primary and secondary investment. With the current round of fund raise, the company wants to drive credit uptake in the economy especially for the unserved and underserved segment of the population. "With a larger portfolio of loan products, our objective is to provide credit to over 180 million New-to-Credit customers who were not provided formal credit earlier. This investment would help us take more positive steps towards achieving that," <keyword id="229206" type="DOMAIN" weightage="20" keywordseo="Madhusudan">Madhusudan</keyword> E, Co-Founder &amp; CEO of KreditBee, said in a statement. The holding entity previously raised over $43 million cumulatively in equity from marque investors including ICICI Bank and Arkam Ventures. Registered in March 2016, the group entity also holds Krazybee Services Private Limited -- a non-deposit taking non-banking financial company (NBFC-ND-SI). The group launched its flagship brand KreditBee in May 2018, focused on full-stack digital lending for young professionals. The platform specialises in providing digital personal loans and consumer durable loans to both salaried and self-employed. The loan amount disbursed can go as high as ₹2 lakh while the tenures range from two months to 15 months. The company said it currently has over 1,200 employees and a user base of over 20 million with over 4 million credit customers. The platform plans to diversify its product offering by venturing into digitally-enabled secured loans, home loans and credit line. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-s21-ultra-5g-review-the-best-android-smartphone-yet/articleshow/80913148.cms">Samsung Galaxy S21 Ultra 5G review – the best Android smartphone, yet</a> <a href="https://www.businessinsider.in/business/startups/news/this-startup-helps-you-watch-shows-shop-online-and-access-the-internet-even-without-a-data-connection/articleshow/80918896.cms">This startup helps you watch shows, shop online and access the internet even without a data connection</a> <a href="https://www.businessinsider.in/science/research/news/worlds-oldest-beer-factory-discovered-in-egypt-was-producing-50000-pints-at-a-time/articleshow/80920087.cms">Drink like an Egyptian: Historians discover the world’s oldest beer factory in Egypt</a> <a href="https://www.businessinsider.in/stock-market/news/elon-musk-wants-major-holders-of-cryptocurrency-dogecoin-to-sell-most-of-their-coins/articleshow/80920866.cms">Elon Musk wants major holders of cryptocurrency Dogecoin to sell ‘most of their coins’</a>

Lending startup KreditBee gets ₹545 crore from Premji invest, Mirae Asset and others

<ul><li><keyword id="1554716" type="General" weightage="20" keywordseo="buy-now" source="Orion">Buy Now</keyword>, <keyword id="3621187" type="General" weightage="20" keywordseo="pay-later" source="Orion">Pay Later</keyword> schemes by e-commerce platforms may look attractive but charge you a higher amount if you miss any payment deadline.</li><li>Suppose you took a cab ride of ₹1,500 on Ola and paid through Ola Money Postpaid. If you forget to pay the amount in the next 15 days then you will be charged ₹100 the other day.</li><li>Online platforms like Paytm Postpaid, Ola Money Postpaid, Amazon Pay Later and Flipkart PayLater charges up to ₹600 fees if you miss any deadline dates.</li></ul>Just like credit cards, Buy Now, Pay Later (<keyword id="9522245" type="General" weightage="20" keywordseo="bnpl" source="Orion">BNPL</keyword>) schemes allow you to buy products beforehand and pay the total amount in installments. You must be aware of Paytm Postpaid, Ola Money Postpaid, Amazon Pay Later, Flipkart PayLater and several others. To help you understand the steep charges by online platforms that have Buy Now, Pay Later scheme here is an example. Suppose you took a cab ride of ₹1,500 on Ola and paid through Ola Money Postpaid. Later if you forget to pay the amount in the next 15 days then you will be charged ₹100 the other day. Also, this amount will keep on increasing every cycle if you miss future deadlines. During the last couple of years and also because of covid infused financial stress, BNPL schemes have become very popular among young who are new to the credit space. Macquarie expects the total amount of loans disbursed through such schemes to be anywhere between $45 billion and $50 billion by March 2026. The current market is still very small ⁠— about 0.7% of all bank loans and about 2.07% of loans given by the non-banking financial companies, <a href="https://rbidocs.rbi.org.in/rdocs//PublicationReport/Pdfs/DIGITALLENDINGF6A90CA76A9B4B3E84AA0EBD24B307F1.PDF">according to the latest data provided by the Reserve Bank of India</a>. <div type="image" title="loan disbursal" height="900" width="1200" msid="87798372" hostid="261"></div> While these schemes do serve the purpose of buying products on time and paying later, one should be aware about the high cost in late payments. How does BNPL work? <ul><li>Buy a product at an online or e-commerce platform</li><li>Select ‘Buy Now, Pay Later’ option</li><li>Make a small down payment of the overall purchase amount</li><li>The remaining amount shall be debited in a series of EMIs</li></ul>Most BNPL schemes offer a smaller repayment window of 15 to 30 days and charge up to ₹600 fees if you miss the deadline. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></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;">Company </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;">Late fees </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;">ZestMoney </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;">₹250+ 1% per day on late repayments </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;">Simpl </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;">₹250 per cycle default </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;">ePayLater </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;">₹100 per cycle default </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;">KrazyBee </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;">₹500+ 0.2% penalty charge per day </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;">Paytm Postpaid </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;">₹10-500 per cycle default </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;">Amazon Pay Later </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;">₹100-500 per cycle default </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;">Mobikwik Zip </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;">₹20-200 per cycle default. Plus 1% late fee after 3rd cycle </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;">Flipkart PayLater </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;">₹60-600 per cycle default </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;">LazyPay </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;">₹50-500 per cycle default </td></tr></tbody><tbody></tbody></table>Source: Macquarie report dated November 18, 2021 BNPL looks attractive but is definitely not a win-win situation for consumers. These steep late fee charges indicate significant revenue for the company, said analysts at global brokerage firm Macquarie Research. What should you do? Educate yourself about the interest charges including processing fee, which you would be paying before you make your purchase via the BNPL option, on the total amount before buying a product through BNPL. It is best to use the BNPL option when you are sure of paying the entire due amount before the due date. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/opinion-the-next-four-letter-word-taking-the-world-of-finance-by-storm/articleshow/87260681.cms">OPINION: The next four-letter word taking the world of finance by storm</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/ntpc-is-hiring-experienced-engineering-professionals-with-a-monthly-salary-of-60000/articleshow/87781706.cms">NTPC is hiring experienced engineering professionals with a monthly salary of ₹60,000</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/zomato-is-now-bigger-than-paytm-reasons-why-the-market-is-not-excited-about-vijay-shekhar-sharmas-vision-of-a-superapp/articleshow/87777762.cms">Zomato is now bigger than Paytm — reasons why the market is not excited about Vijay Shekhar Sharma’s vision of a superapp</a>

From Simpl to Paytm Postpaid ⁠— these are the penalties on late payments on Buy Now, Pay Later schemes

<ul><li><keyword id="4085901" type="PERSON" weightage="20" keywordseo="Milkbasket">Milkbasket</keyword> has raised ₹200 million in venture debt from <keyword id="225032" type="PERSON" weightage="20" keywordseo="Sachin-Bansal">Sachin Bansal</keyword>’s firm <keyword id="7578713" type="UNKNOWN" weightage="20" keywordseo="bacq">BACQ</keyword>. </li><li>Earlier in March 2019, Milkbasket had announced the acquisition of Veggie India for an undisclosed amount. </li><li>The grocery space has been heating up in India, with Bigbasket joining the unicorn club and unicorn startup Swiggy having entered the segment.</li></ul><keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> co-founder Sachin Bansal is back in the news. Bansal’s firm BACQ has invested venture debt worth ₹200 million into Milkbasket – a grocery delivery startup. Bansal, through BACQ, had earlier made an investment in digital lending platform Krazybee and a personal investment in Ola technologies. Venture debt is a type of debt financing given to early stage companies. "Milkbasket is now working on the next set of innovations to further consolidate its market leader position across it’s fresh (fruit &amp; vegetables) offering, automating the daily delivery supply chain and reducing go to market time for multi-city expansion. These funds would provide us the needed CAPEX and R&amp;D investments in all the three domains.” Anant Goel, co-founder and CEO, Milkbasket added. In March 2019, Milkbasket had acquired one-year-old startup Veggie India for an undisclosed amount. With the acquisition, the founders of the Noida-based Veggie India Jainendra Upadhyay and Shailendra Upadhyay as well as all of their employees had joined Milkbasket. The Gurugram-based startup Milkbasket had earlier raised about $16 million from Mayfield Advisors, Beenext, Kalaari Capital, Unilever Ventures, Lenovo and Blume Ventures at a <a href="https://www.vccircle.com/mayfield-leads-milkbasket-s-extended-series-a-round/">reported</a> valuation of $30 million. According to CRISIL, the online retail market in India is expected to grow 250% to touch ₹1.8 trillion by 2020 fiscal. The Indian grocery market has become a hot sector with bigwigs joining in the race. Milkbasket, which earlier focussed on delivery of milk and dairy products, had expanded its business to begin grocery delivery. Foodtech unicorn Swiggy too had announced its entry in the segment with Swiggy stores. One of the leaders in the space, Bigbasket had joined the unicorn club in March 2019 with a $2.3 billion valuation. See Also: <a href="https://www.businessinsider.in/bigbasket-joins-unicorn-club-with-a-fresh-investment-of-150-million/articleshow/68624890.cms">Indian grocery startup Bigbasket enters the unicorn club with a reported $2.3 billion valuation</a> <a href="https://www.businessinsider.in/milkbasket-strengthens-to-take-on-rivals-swiggy-and-bigbasket-acquires-veggie-india/articleshow/68590658.cms">Four years into the business, Milkbasket has acquired one-year-old startup Veggie India</a>

You Searched For "KrazyBee" and got 6 results

After conquering the smartphone space, Xiaomi now wants to enter India’s fintech industry

Prabhjote Gill

Thinking of getting a personal loan? Adani group might have something for you

Divyanshi Sharma

Amazon and Flipkart’s biggest rival in ‘Buy Now, Pay Later’ just raised $40 million

Kritti Bhalla

Lending startup KreditBee gets ₹545 crore from Premji invest, Mirae Asset and others

IANS

From Simpl to Paytm Postpaid ⁠— these are the penalties on late payments on Buy Now, Pay Later schemes

Bhakti Makwana

Sachin Bansal adds more to his cart, invests ₹200 million in Milkbasket

Sanchita Dash

Popular Keywords

Buying Guides