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<ul><li>The 10-year old profitable startup which has been bootstrapped all along also saw its revenues touch ₹950 crore in FY20, up by 11% from last year.</li><li>Co-founder and CEO Nithin Kamath said the $1 billion is conservative, comparable to a listed peer like ICICI Securities, and backed by the strong growth in revenue last year. </li><li>In an interview with Business Insider, Kamath shares why having no external <keyword id="6357455" type="UNKNOWN" weightage="20" keywordseo="Funding">funding</keyword> actually helped the company.</li></ul><keyword id="759851" type="COMPANY" weightage="20" keywordseo="Zerodha">Zerodha</keyword> decided to buy back the company’s shares given to its employees at a price that took the valuation of the online broking firm to ₹7,000 crore, nearly $1 billion. Founder Nithin Kamath’s defence of this ‘self assessed’ valuation is that it is ‘conservative’, comparable to a listed peer like ICICI Securities, and backed by the strong growth in revenue last year. The 10-year old profitable startup which has been bootstrapped all along also saw its annual revenue touch ₹950 crore at the end of March 2020, up 11% from a year earlier. The success of the startup also booked Kamath a place in the Hurun rich list of billionaires with a net worth of ₹6,600 crore. <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;">Financial Metric </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;">ICICI Securities </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;">Zerodha </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;">FY20 revenue </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;">₹1725 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;">₹950 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;">Market Valuation </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;">₹16500 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;">₹7000 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;">Valuation/revenue multiple </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;">9.5 times </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;">7.4 times </td></tr></tbody></table> Kamath explains how they valued their company and believes that the valuation would have been higher if they were valued as a technology firm. “Given our profitability in the last few years and price-to-equity margins this is a fairly conservative valuation from our standpoint. We derived this by looking at our closest publicly- listed competitor ICICI Direct and thought to be valued on similar lines. This number could have been much higher if we had been valued as a tech firm, rather than just as a brokerage firm as people value tech businesses based on growth,” Kamath told Business Insider. According to reports, Zerodha makes for 15% of the Indian retail trading volume with a customer base of 2.8 million. The average age of users is between the age bracket of 25-35. Multiple plans for the next few years Zerodha’s next few years are planned with new features, including setting up a NBFC. “We will soon allow clients to avail loan against their shares and mutual funds via our NBFC entity, we have applied for our AMC license in February which might take a year or two to set up, and enabling Indian residents to invest into US listed stocks,” shared Kamath. Kamath added that from the ESOP pool of ₹200 crore last year, employees will be permitted to sell 5-50% of the 33% of their shares that vest this year. About 800 employees are set to benefit from the buyback plan, just ahead of the startup’s 10-year anniversary. “The quantity of shares an employee can sell will be based on performance,” he said. Why Zerodha never went to external investors? While <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">startups</keyword> turn to investor money for growth, throughout their journey, Zerodha has never raised money. But as their journey grew, investors have come knocking their doors. “Yes, we have been approached for being funded multiple times but today, we don’t really have any need for external funding. The need to raise huge sums of money arises when there is a requirement to spend on marketing etc., which we feel that there is currently no need to do so. Also, not having any external board of investors, allows us to be nimble and move fast which is an edge in itself,” he said. No marketing Kamath shares that Zerodha has never relied on any marketing or paid promotional activities. “This organic growth worked in our favour because we didn’t have to spend huge amounts of money on marketing. Our customers word of mouth was the best marketing for us,” he said. Smart hiring While the company put a lot of focus on customers, it did that by building a resilient team. “We have deliberately tried to build a certain kind of growth culture within the company and hired people who fit in our model. This has helped in retaining our employees, in fact the first 100 employees who joined us are still with us,” said Kamath. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/markets/news/rossari-biotech-the-maker-of-products-for-brands-like-vim-rin-domex-and-surf-will-get-listed-on-july-23/articleshow/76991473.cms">The maker of products for brands like Vim, Rin, Domex and Surf will get listed on July 23</a> <a href="https://www.businessinsider.in/business/news/scan-and-go-stores-crop-up-in-india-as-contactless-becomes-key-to-shopping/articleshow/76971890.cms">Scan and go stores crop up in India as contactless becomes key to shopping</a>

INTERVIEW: Zerodha founder defends the ‘self-valuation’ of nearly a billion dollars⁠ — and why he never raised funds from investors

<ul><li><keyword id="759851" type="COMPANY" weightage="20" keywordseo="Zerodha">Zerodha</keyword> is the new entrant in the Hurun list and ranks 108th on the global unicorn list. </li><li>Zerodha recently made headlines as the stock brokerage company gave itself a $1 billion valuation, without having ever gone out to raise money from investors.</li><li>Founder Nitin Kamath had earlier mentioned that the valuation would have been higher if they were valued as a technology firm.</li></ul>Zerodha recently made headlines as the stock brokerage company gave itself a $1 billion valuation, without having ever gone out to raise money from investors. And now, the Hurun Global Unicorn List of 2020 values the startup at a whopping $3 billion. Zerodha is the new entrant in the Hurun list and ranks 108th rank in the global unicorn ranking. Earlier in June, the startup announced that it had decided to buy back the company’s shares given to its employees at a price that took the valuation of the online broking firm to ₹7,000 crore, nearly $1 billion. Even then the founder Nitin Kamath had said that the valuation is ‘conservative’, comparable to a listed peer like ICICI Securities, and backed by the strong growth in revenue last year. And even with the high valuation from Hurun, Zerodha remains modest. “Valuation etc really matter only if you intend to sell a portion of your company, otherwise it is just a vanity metric which doesn't really mean anything. That said it is good to know that someone values us as much,” Kamath told Business Insider. Kamath had earlier mentioned that the valuation would have been higher if they were valued as a technology firm. “Given our profitability in the last few years and price-to-equity margins this is a fairly conservative valuation from our standpoint. We derived this by looking at our closest publicly- listed competitor ICICI Direct and thought to be valued on similar lines. This number could have been much higher if we had been valued as a tech firm, rather than just as a brokerage firm as people value tech businesses based on growth,” Kamath told Business Insider in an earlier interview. Zerodha’s growth has come even without any funding from an external investor, as the startup has remained bootstrapped since the last ten years. Going forward, they have more plans in store to grow their business. Kamath said that they are also building features around nudging our users to trade and invest better via our platform. “For example, we recently added a nudge feature on Kite, our web trading platform, that alerts users if they are trying to place an order in a penny stock or illiquid F&amp;O contracts, that can potentially be manipulated. We are constantly working on things which could help our clients make better trading and investing choices,” he had said. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/zerodha-founder-defends-the-self-valuation-of-nearly-a-billion-dollars-and-why-he-never-raised-funds-from-investors/articleshow/76991607.cms">INTERVIEW: Zerodha founder defends the ‘self-valuation’ of nearly a billion dollars⁠ — and why he never raised funds from investors</a> <a href="https://www.businessinsider.in/business/corporates/news/tcs-infosys-hcl-tech-new-deals/articleshow/77343077.cms">Here's a look at how TCS, Infosys, and HCL Tech fared in bagging new deals</a>

Zerodha valued itself at $1 billion, Hurun unicorn startups list bumps it up to $3 billion but founder says valuation doesn't matter

<ul><li>It plans to use the latest funding to expand its technology infrastructure and widen its reach to under-penetrated regions.</li><li><keyword id="6189412" type="General" weightage="20" keywordseo="groww" source="Orion">Groww</keyword> had reported a revenue of ₹1 crore in the financial year 2020.</li><li>It competes with profit-making <keyword id="759851" type="General" weightage="20" keywordseo="zerodha" source="Orion">Zerodha</keyword> and <keyword id="12381414" type="General" weightage="20" keywordseo="angelone" source="Orion">AngelOne</keyword> in this domain.</li></ul>Wealth management and investment platform Groww has tripled its valuation to $3 billion, after its $251 million funding round announced on Monday. The Series E funding round was led by Iconiq Growth, with participation from new investors Alkeon, Lone Pine Capital and Steadfast. Sequoia Capital, Ribbit Capital, YC Continuity, Tiger Global and Propel Venture Partners also participated in the round. The development was first <a href="https://www.livemint.com/companies/start-ups/groww-raises-251-mn-triples-valuation-to-3-bn-in-6-months-11635096502920.html">reported</a> by Mint. Groww is the highest valued venture capital (VC)-funded investments platforms in India after this fundraise. However, what are these valuations based on? Zerodha — which has the most number of users and offerings — is not even in the race as it is a bootstrapped company. In the last two years, Zerodha accorded itself a $1 billion valuation in 2020 and $2 billion valuation in 2021 in order to buy back employee stocks and give them returns. Nitin Kamath, the co-founder and chief executive officer (CEO) of Zerodha, believes that the valuations it has accorded to itself could be conservative. <div type="javascript" title="Custom" contenttype="Text"><cdata><![CDATA[ ]]></cdata></div> Groww’s valuation is also double that of publicly-listed companies such as AngelOne (formerly <keyword id="103837" type="General" weightage="20" keywordseo="angel-broking" source="Orion">Angel Broking</keyword>), which has a market cap of ₹10,700 crore ($1.4 billion). AngelOne has 5 million registered clients, as per its website. Groww is also the only startup among the three companies valued over a billion dollars. It is also the one with the <a href="https://entrackr.com/2021/03/groww-expenses-shot-up-20x-in-fy20-with-miniscule-revenue/" data-type="tilCustomLink">least amount of revenue</a> in the financial year 2020. <div type="image" title="Loss-making Groww is now the most-valued investment platform even though some of its peers make profits" msid="87249158" hostid="261"></div> The financial statement for FY2021 is not yet publicly available. Business Insider reached out to Groww seeking details about its financial performance in FY21. However the company declined to comment. Upstox’s RKSV Securities subsidiary is also a player in the domain, although valued below $1 billion. The company had hit profitability in the financial year 2019, but reported a loss of ₹37.99 crore in FY20 after a profitable run of two years. Rata Tata-backed Upstox has two subsidiaries RKSV Securities and RKSV Commodities, with RKSV Securities being the bigger one. Groww is looking to expand its reach “Groww is already among the leading investment platforms in India, showcasing strong unit economics and customer cohorts. We are excited to participate in its vision to be the primary financial platform for Indian consumers," said Yoonkee Sull, partner at Iconiq Growth. Groww plans to use this funding to expand its technology infrastructure and widen its reach to under-penetrated regions. It will also use the capital to create financial education and awareness about investment products. The company — founded by four former Flipkart employees Lalit Keshre, Harsh Jain, Ishan Bansal and Neeraj Singh in 2016 — has already enabled its customers to invest in US-based stocks through its web platform. The company claims to have more than 2 million users on its platform, with nearly 70% of its users coming from Tier II and III geographies. <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;">Year of launch </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;">User base in 2021 </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;">Zerodha </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;">2010 </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 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;">AngelOne </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;">1996 </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;">4.12 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;">Upstox </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;">2009 </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;">Groww </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;">2016 </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></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: Media reports Groww has raised nearly $393 million to date from marquee investors like Tiger Global, Y Combinator, Sequoia Capital India, Ribbit Capital and others. It was valued at $1 billion in April 2021. ALSO WATCH: A $4.5 billion fund manager talks about the absurdities in the stock market and shares priceless insight <div type="Video" msid="84818150" hostid="261" title="All the absurdities in the stock market" dataSource="BUSINESSINSIDER" thumbUrl="https://denmark.timesinternet.in/cmslite/api/app/images.jpg?msid=84818150"></div> SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/reliance-industries-icici-bank-tata-elxsi-and-other-top-stocks-to-watch-out-for-on-october-25/slidelist/87247835.cms" data-type="tilCustomLink">Reliance Industries, ICICI Bank, Tata Elxsi and other top stocks to watch out for on October 25</a> <a href="https://www.businessinsider.in/business/startups/news/twitter-tencent-and-tiger-global-are-investing-in-vernacular-social-media-startups-sharechat-koo-and-public-app/articleshow/87207096.cms" data-type="tilCustomLink">Twitter, Tiger Global, Tencent and others have pumped in over $900 million into India’s vernacular social media platforms in a year</a> <a href="https://www.businessinsider.in/tech/news/google-worked-with-facebook-to-undermine-apples-attempts-to-offer-its-users-great-privacy-protections-complaint-alleges/articleshow/87244342.cms" data-type="tilCustomLink">Google worked with Facebook to undermine Apple's attempts to offer its users greater privacy protections, complaint alleges</a>

Loss-making Groww is now the most-valued investment platform even though some of its peers make profits

<ul><li>The Reserve Bank of India capped the withdrawals from <keyword id="45660" type="CITY" weightage="20" keywordseo="Yes-Bank">YES Bank</keyword> at ₹50,000 and that has set a frenzy in motion in the banking sector.</li><li>From digital payments companies, that have wallets, to the ones that offer financial services and were linked with YES Bank have now come in the eye of the storm. </li><li>YES Bank accounted for 40% of <keyword id="4052276" type="PERSON" weightage="20" keywordseo="UPI-transactions">UPI transactions</keyword> in January 2020 – accounting for 514 million transactions. </li></ul>India’s central bank – the Reserve Bank of India capped the withdrawals from YES Bank at ₹50,000. That has set a frenzy in motion across the banking sector. People hurried to transfer money in netbanking or from the app, but both services were down from Thursday night, queues began in front of YES Bank ATMs. And, even fintech companies in India took a hit. From digital payments companies, that have wallets, to the ones that offer financial services were caught in the eye of the storm. According to the National Payments Corporation of India (NPCI), YES Bank was the UPI partner for about 20 apps. The bank accounted for 40% of UPI transactions in January 2020 – accounting for 514 million transactions. <keyword id="6357886" type="UNKNOWN" weightage="20" keywordseo="phonepe">PhonePe</keyword>, the digital payments company’s servers went down late Thursday night, as it uses YES Bank as the backend for most of its UPI accounts. <div type="twitter" handle="PhonePe_" handlename="PhonePe" image="http://pbs.twimg.com/profile_images/1228394203421372416/4X3QZazb_normal.jpg" favoritecount="302" retweetcount="55" status="We are temporarily unavailable. We are going through an unscheduled maintenance activity. We apologize for any in… https://t.co/aiDh5XkKVx" createdat="1583432594000" id="1235631976263987201"></div>

 PhonePe’s CEO Sameer Nigam too addressed the issue early in the morning and wrote on Twitter, “Dear @PhonePe_ customers. We sincerely regret the long outage. Our partner bank (Yes Bank) was placed under moratorium by RBI. Entire team's been working all night to get services back up asap. We hope to be live in a few hours. Thanks for your patience. Stay tuned for updates!.” A few Twitter users called <a href="https://twitter.com/kamleshksingh/status/1235789461243363330">PhonePe</a> a collateral damage to the <keyword id="8873513" type="UNKNOWN" weightage="20" keywordseo="yes-bank-crisis">YES Bank crisis</keyword>. Meanwhile, <keyword id="759851" type="COMPANY" weightage="20" keywordseo="Zerodha">Zerodha</keyword> which offers retail and institutional broking, currencies and commodities trading, mutual funds, and bonds, too addressed its customers’ concerns. Nitin Kamath, the founder and CEO of the company YES Bank customers to change their primary bank linked with their Zerodha accounts immediately. “We have cancelled all fund withdrawal requests made by clients to their YES bank accounts so that the money doesn’t get blocked. Please change, if your primary bank account is YES, to any other and withdraw the funds,” he wrote on <a href="https://twitter.com/Nithin0dha/status/1235618502112727040">Twitter. </a> Payments processing platform <keyword id="2777173" type="PERSON" weightage="20" keywordseo="Razorpay">Razorpay</keyword> maintained that its payment gateway services are unaffected, yet didn’t rule that ‘some other services might be affected’. <div type="twitter" handle="Razorpay" handlename="Razorpay" image="http://pbs.twimg.com/profile_images/1032964966058536965/74NDff34_normal.jpg" favoritecount="61" retweetcount="30" status="Update on Yes Bank being placed under moratorium by RBI. Our payment gateway services are unaffected. While some o… https://t.co/yz2qH52xHB" createdat="1583431569000" id="1235627677467303936"></div>

 See Also: <a href="https://www.businessinsider.in/finance/news/yes-bank-mobile-and-net-banking-down-after-rbi-limits-withdrawals-to-50000/articleshow/74499754.cms">Yes Bank mobile and net banking down after RBI limits withdrawals to ₹50,000</a> <a href="https://www.businessinsider.in/finance/news/indias-largest-bank-stock-sees-the-sharpest-fall-in-over-7-years-investors-want-to-say-no-to-yes-bank/articleshow/74504449.cms">India's largest bank stock sees the sharpest fall in over 7 years — investors want to say 'no' to Yes Bank</a>

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INTERVIEW: Zerodha founder defends the ‘self-valuation’ of nearly a billion dollars⁠ — and why he never raised funds from investors

Sanchita Dash

Zerodha valued itself at $1 billion, Hurun unicorn startups list bumps it up to $3 billion but founder says valuation doesn't matter

Sanchita Dash

Loss-making Groww is now the most-valued investment platform even though some of its peers make profits

Kritti Bhalla

YES Bank – a leader in UPI transactions leaves payment companies like PhonePe high and dry

Sanchita Dash

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