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<ul><li>India is now being recognized as one of the largest fintech unicorn ecosystems, home to 21 fintech unicorns.</li><li>Growing adaptation of technology, higher disposable income and young population is aiding the growth of financial technology which has big players like <keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword>, <keyword id="1763236" type="General" weightage="20" keywordseo="cred" source="Orion">Cred</keyword>, <keyword id="3711711" type="General" weightage="20" keywordseo="simpl" source="Orion">Simpl</keyword> etc.</li><li>Fintech growth in sectors like agriculture, retail, health and property technology will also accelerate the growth.</li></ul>The Indian fintech market is expected to grow ten times and have assets to the tune of $1 trillion asset under management by 2030, says a report by Chiratae Ventures and EY. <br /><br />This growth will come on the back of government initiatives such as Digital India, Smart City, the development of UPI, the report says. <br /><br />Growth will be driven by the digital lending market, which is expected to grow to $515 billion in book size by 2030 and a revenue of $200 billion.<br /><br />“India is now being recognized as one of the largest fintech unicorn ecosystems, home to 21 fintech unicorns as of March 2022,” says the report titled ‘$1 Tn India FinTech Opportunity’. <br /><br />Growing adaptation of technology, higher disposable income and young population is aiding the growth of financial technology which has big players like Paytm, Cred, Simpl, <keyword id="2777173" type="General" weightage="20" keywordseo="razorpay" source="Orion">Razorpay</keyword>, Instamojo, Lendingkart and many others. <br /><br />Popularity of ‘<keyword id="4585897" type="General" weightage="20" keywordseo="buy-now-pay-later" source="Orion">buy now pay later</keyword>’ <a href="https://www.businessinsider.in/personal-finance/news/how-does-buy-now-pay-later-schemes-work-and-what-are-the-penalties-here/articleshow/87788629.cms">(BNPL) </a>products and services has also fueled the growth of the industry both in B2C and B2B payments space. Just like credit cards, <a href="https://www.businessinsider.in/personal-finance/news/how-does-buy-now-pay-later-schemes-work-and-what-are-the-penalties-here/articleshow/87788629.cms">BNPL schemes </a>allow you to buy products beforehand and pay the total amount in installments. <br /><br />According to TC Meenakshi Sundaram, co-founder and vice chairperson at Chiratae Ventures, fintechs have innovated for the underserved financial markets. The ecosystem has been supportive too.<br /><br />“These include fast-growing digital adoption and mobile penetration on the back of the cheapest data rates in the world offered by private telecom players, to enabling regulatory environment coupled with world-leading digital infrastructure (Aadhar, UPI, BBPS etc), and structural reforms and initiatives (GST, TReDSetc.),” said Sundaram.<br /><br />Fintech has also been growing in sectors like agriculture, retail, health and property technology. The report states that payments, digital lending, wealthtech, insurtech, and neo-banking will all be contributing to growth in the fintech space with agri+fintech and prop+fintech considered to be big bets. <br /><br />“India is recognized as a strong fintech hub globally and is increasingly becoming a talent destination for fintech businesses,” said Rajiv Memani, chairman and managing partner at EY India.<br /><br /><br /><strong>SEE ALSO: </strong><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/not-only-foreign-investors-but-indian-retail-investors-also-seem-to-be-losing-faith-in-markets/articleshow/93457258.cms">Although FII flows have reversed, retail investor confidence remains low thanks to macro concerns</a><br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/goa-hotels-had-the-most-occupancies-and-they-earned-more-too-says-report/articleshow/93456193.cms">Goa hotels had the most occupancies and they earned more too, says report</a><br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/only-12-delhi-covid-19-cases-are-in-official-records-says-report/articleshow/93446996.cms">Only 12% Delhi Covid-19 cases are in official records, says report</a>

Indian fintechs to grow 10x and manage assets worth $1 trillion by 2030

New Delhi, Credit Card bill payment platform <keyword id="16650447" type="General" weightage="20" keywordseo="cred-ceo" source="Orion">CRED CEO</keyword> <keyword id="192201" type="General" weightage="20" keywordseo="kunal-shah" source="Orion">Kunal Shah</keyword> has revealed his monthly salary, stating that he takes home Rs 15,000 per months and also gave a reason for it.<br /><br />He held an "Ask Me Anything" session on Instagram on Sunday where a user asked: "Your salary at CRED is so low? How do you survive?"<br /><br />Responding to the question, Shah said: "I don't believe I should get a good salary till the company is profitable. My salary at CRED is Rs 15,000 per month, and I can survive as I sold my company FreeCharge in the past."<br /><br />Moreover, a user on Twitter shared a screenshot of the story in which the CEO responded to the question.<br /><br />"There are CEOs who take salaries in crores, then we have Kunal Shah," the user wrote with the screenshot.<br /><br />Shah's response, on the other hand, appears to have divided the internet.<br /><br />While some applauded his decision, others said that it is simply a method to save tax.<br /><br />"Being humble and flexing in the same sentence. His words always poke me to be curious," a user commented.<br /><br />"Bro, it's called tax saving, He definitely spending millions on his lifestyle," another user said.<br /><br />"He's also an angel investor and has invested in over 500 startups. His angel investments will also be giving him income as when he exits from investments," commented another person.<br /><br /><br />

CRED CEO Kunal Shah reveals his salary, takes Rs 15,000 monthly

Corporate expense management platform <keyword id="2738808" type="General" weightage="100" keywordseo="happay" source="Orion">Happay</keyword>, owned by credit <keyword id="6360117" type="General" weightage="50" keywordseo="card" source="Orion">Card</keyword> bill payment provider CRED, has slashed nearly 35 per cent of its workforce as part of a restructuring exercise, the media reported.<br /><br />According to leading startup news portal Inc42, at least 160 employees from departments like sales, marketing, tech, product, and operations, have been asked to go by the platform.<br /><br /> <br />According to the report, Happay is giving impacted employees three months salary along with an extension of insurance coverage and some other additional benefits.<br /><br />When reached, CRED did not immediately comment on layoffs at Happay, which it acquired in December 2021 in a cash and stock deal that valued Happay at $180 million.<br /><br />"With professional expenses forming a significant portion of credit card spends, bringing professional expense management into the CRED ecosystem is a natural extension of our proposition," <keyword id="192201" type="General" weightage="50" keywordseo="kunal-shah" source="Orion">Kunal Shah</keyword>, founder, CRED, had said in a statement during the acquisition.<br /><br />While Happay operated as a separate entity, the team worked closely with CRED leadership to leverage its ecosystem, build distribution, expand the product offering and drive scale.<br /><br />CRED last year acquired SaaS lending-as-a-service platform CreditVidya in a mix of cash and stock transaction for an undisclosed sum.<br /><br /><b>SEE ALSO:</b><br /><br /> <b><a href="https://www.businessinsider.in/finance/news/fii-inflows-may-remain-consistent-in-may-with-turn-in-rate-cycle/articleshow/100234813.cms">FII inflows may remain consistent in May with turn in rate cycle</a></b><br /><br /> <b><a href="https://www.businessinsider.in/stock-market/news/fears-of-a-us-debt-default-are-mounting-as-the-deadline-to-lift-the-borrowing-limit-looms-heres-what-elon-musk-paul-krugman-and-jamie-dimon-have-warned-/articleshow/100229208.cms">Fears of a US debt default are mounting as the deadline to lift the borrowing limit looms. Here's what Elon Musk, Paul Krugman and Jamie Dimon have warned.</a></b><br /><br /> <b><a href="https://www.businessinsider.in/tech/news/heres-how-googles-new-ai-updates-will-transform-your-search-experience/articleshow/100242791.cms">Here’s how Google’s new AI updates will transform your search experience</a></b><br />

CRED-owned Happay lays off 35% of its workforce

Financial solutions company <keyword id="2777173" type="PERSON" weightage="20" keywordseo="Razorpay">Razorpay</keyword> on Monday said it has acquired AI-based risk tech <keyword id="6395918" type="UNKNOWN" weightage="20" keywordseo="SAAS">SaaS</keyword> (software-as-a-service) platform <keyword id="11669390" type="UNKNOWN" weightage="20" keywordseo="tera-finlabs">TERA Finlabs</keyword> for an undisclosed sum.<br /><br />TERA Finlabs is an Indian subsidiary of GAIN Credit, a leading UK digital lender which was launched in 2018 to expand their global footprint in digital lending.<br /><br />This marks the company's third acquisition after foraying into the B2B SME lending space with the launch of Razorpay Capital in 2019, it said in a statement.<br /><br />"The team at TERA FinLabs comes with exceptional domain knowledge in credit underwriting &amp; risk management and we see immense value in TERA Finlabs core lending infrastructure capabilities," said Harshil Mathur, CEO and Co-Founder, Razorpay.<br /><br />Razorpay Capital, along with TERA Finlab's technology capabilities, will be able to service the credit needs of over 10,000 businesses in India by the next year, the company said.<br /><br />"We are excited that the strengths of Razorpay and TERA Finlabs are now coming together to ensure that small businesses aren't burdened by the short-term uncertainties. Our robust end-to-end platform will enable new businesses to build a scalable and profitable credit business," said Pradeep Rathnam, Co-Founder and CEO, TERA Finlabs.<br /><br />Razorpay acquired <keyword id="5569668" type="UNKNOWN" weightage="20" keywordseo="thirdwatch">Thirdwatch</keyword>, an AI-driven company that helps reduce Return-to-Origin (RTO) fraud losses in e-commerce in 2018, and <keyword id="8363793" type="UNKNOWN" weightage="20" keywordseo="opfin">Opfin</keyword>, a payroll management software company, in 2019.<br /><br />The company said it has been witnessing a 40-45 per cent growth (on-month) and has achieved $40 billion TPV (Total Payment Volume).<br /><br />Razorpay currently powers payments for over 8 million businesses including the likes of Facebook, Airtel, Ola, <keyword id="11669388" type="UNKNOWN" weightage="20" keywordseo="zomato-swiggy-cred">Zomato, Swiggy, Cred</keyword> and ICICI Prudential, among others, and is set to reach 200 million customers this year.<br /><br /><br /><br /><br /><br /><strong>SEE ALSO -<br /><a href="https://www.businessinsider.in/tech/mobile/news/apple-could-finally-bring-the-always-on-display-feature-on-the-iphone-13/articleshow/84542970.cms">Apple could finally bring the always-on display feature on the iPhone 13</a><br /></strong><a href="https://www.businessinsider.in/stock-market/news/g-r-infraprojects-ipo-makes-a-strong-listing-on-exchanges-with-over-100-premium-shares-open-at-1700/articleshow/84542747.cms"><strong>G R Infraprojects IPO makes a strong listing on exchanges with over 100% premium, shares open at ₹1700</strong></a>

Fintech startup Razorpay buys SaaS firm TERA Finlabs

<ul><li>As we get closer to the new year, we bring to you a time capsule of 2021.</li><li>We look at some of the memorable campaigns from the year and discuss the common themes.</li></ul>The initial stage of the global pandemic brought in a lot of challenges for advertising agencies and brands. Agencies were producing ads on chopped-off budgets from the safety of their homes and really scratching their brains for creative ideas inside four walls. As the lockdown was lifted and the country opened its doors to all kinds of businesses in phases, there was hope in the air. Brands slowly started picking on consumer sentiment and upped their marketing budgets. With the beginning of 2021, a new year, consumers found a new sense of optimism for a better tomorrow and brands ensured that they offered a helping hand to consumers by spreading warmth through their advertising campaigns and telling stories of togetherness and bonding with family, friends and neighbors. With the second wave in April 2021, the progress reversed and brands slowed their marketing activities again but continued proving their resilience through their social media handles. When COVID was at its peak in April and June, several health institutions ran out of beds and oxygen supplies. Our social media feeds filled up with appeals for help -- looking for plasma donors, oxygen concentrators or ICU beds. During this period, Indian corporations, multinational brands and young home-grown start-ups stepped forward to do their bit and helped the country survive this phase. <br /><br />Thankfully, as the number of cases went down in August and the number of vaccine doses kept rising, consumer sentiments picked up. With each festival, things got a little better. So, as the country decorated their home to celebrate the homecoming of Lord Ram on Diwali, marketers went all out. After a long-dry spell of a year and a half, brands ensured that they didn't miss out on this opportunity to reconnect with consumers. The country found its hope to keep going and many brands decided to celebrate heroes who went unnoticed during the most difficult phase of the pandemic. With their heartwarming campaigns, they urged consumers to support small businesses and those who have been badly impacted by COVID-19.<br /><br />The pandemic also sparked a flurry of nostalgic ads and consumers loved the trend. Brands started evoking nostalgia to connect with consumers on an emotional level and reach out to the inner child in us that lived in a happier universe. These ads were like comfort food during unprecedented times.<br /><br />Brands also used their marketing communications to shine the spotlight on gender inequality and encouraged women to stand up for their rights. <br /><br />Overall, in 2021, themes of nostalgia, togetherness, resilience, women empowerment and hope emerged and made consumers smile. <br /><br />In no particular order, here are a few ads that stood out this year:<br /><br /><strong>Cadbury’s Kuch Khaas Hai remake | Agency: Ogilvy<br />      <div type="Youtube" id="z_OtC06ndUE" title="Cadbury Dairy Milk wishes #GoodLuckGirls to all those hitting it out of the park." thumbUrl="https://i.ytimg.com/vi/z_OtC06ndUE/mqdefault.jpg"></div><br />Bhima Jewellery’s Pure as Love | Agency: Animal<br />      <div type="Youtube" id="NtaLr_r8R2E" title="Bhima Jewellery. Pure as love." thumbUrl="https://i.ytimg.com/vi/NtaLr_r8R2E/mqdefault.jpg"></div><br />Vim’s Making Dishwashing Easy | Agency: Lowe Lintas<br />      <div type="Youtube" id="cWIo7lTfdqs" title="Vim Liquid | Making dishwashing easy (Hindi)" thumbUrl="https://i.ytimg.com/vi/cWIo7lTfdqs/mqdefault.jpg"></div><br />Tanishq’s Marriage Conversations | Agency: Dentsu Webchutney<br />      <div type="Youtube" id="wnZduCnSMpk" title="Marriage Conversations | Tanishq" thumbUrl="https://i.ytimg.com/vi/wnZduCnSMpk/mqdefault.jpg"></div><br />Swiggy Instamart | Agency: Lowe Lintas<br />      <div type="Youtube" id="NL7mq7kFLt8" title="Swiggy Instamart - Groceries delivered in 15-30mins" thumbUrl="https://i.ytimg.com/vi/NL7mq7kFLt8/mqdefault.jpg"></div><br />Mondelez’s Not Just a Cadbury ad | Agency: Ogilvy India<br />      <div type="Youtube" id="R3FnhpelBR0" title="Cadbury Celebrations | Not Just A Cadbury Ad" thumbUrl="https://i.ytimg.com/vi/R3FnhpelBR0/mqdefault.jpg"></div><br />Dove’s Stop the Beauty Test | Agency: Ogilvy India<br />      <div type="Youtube" id="jEpTa2cMl_I" title="Take the pledge to #StopTheBeautyTest | Dove" thumbUrl="https://i.ytimg.com/vi/jEpTa2cMl_I/mqdefault.jpg"></div><br />Tata Cliq Luxury | Agency: Havas Creative Group India<br />      <div type="Youtube" id="ZqHZKtbcjEA" title="Thoughtful Gifting Begins Here | Slow Commerce | Where Quality is Nurtured | Tata CLiQ Luxury" thumbUrl="https://i.ytimg.com/vi/ZqHZKtbcjEA/mqdefault.jpg"></div><br />Fastrack’s You Do You | Agency: Lowe Lintas Bangalore <br />      <div type="Youtube" id="0VGpbNQufjc" title="Own Your Inches - #FastrackYouDoYou" thumbUrl="https://i.ytimg.com/vi/0VGpbNQufjc/mqdefault.jpg"></div><br />Bournvita’s Get The Message | Agency: Ogilvy India<br />      <div type="Youtube" id="EkCtQT2yfig" title="Bournvita - Get The Message" thumbUrl="https://i.ytimg.com/vi/EkCtQT2yfig/mqdefault.jpg"></div><br />Nykaa’s Tum Hi Ho Nykaa | Agency: Sideways <br />      <div type="Youtube" id="9o57TH0ZjkU" title="Tum Hi Ho Nykaa | Brand Film" thumbUrl="https://i.ytimg.com/vi/9o57TH0ZjkU/mqdefault.jpg"></div><br />Mohey’s KanyaMaan <br />      <div type="Youtube" id="PmCSjllj7KU" title="Tradition wahi, soch nayi - #KanyaMaan" thumbUrl="https://i.ytimg.com/vi/PmCSjllj7KU/mqdefault.jpg"></div><br />Tinder’s Closure<br />      <div type="Youtube" id="6b-K9OzVo-c" title="Closure - A Film about Consent by Tinder | Ft. Kavya Trehan and Mrinal Dutt" thumbUrl="https://i.ytimg.com/vi/6b-K9OzVo-c/mqdefault.jpg"></div><br />Cult.fit’s Fitness Is Not An Option<br />      <div type="Youtube" id="xAB3CZC1BcI" title="Fitness Is Not An Option (cult.fit)" thumbUrl="https://i.ytimg.com/vi/xAB3CZC1BcI/mqdefault.jpg"></div><br />Vicks’ Touch of Care | Publicis Singapore<br />      <div type="Youtube" id="NHflsJrXKaI" title="Vicks - Care Lives On #TouchOfCare" thumbUrl="https://i.ytimg.com/vi/NHflsJrXKaI/mqdefault.jpg"></div><br />CRED’s Great for the Good<br />      <div type="Youtube" id="j8KpV-4_mRg" title="Great for the good | ft. Rahul Dravid | CRED" thumbUrl="https://i.ytimg.com/vi/j8KpV-4_mRg/mqdefault.jpg"></div><br />The Body Shop’s #BloodyNatural <br />      <div type="Youtube" id="6XVihCBaX-g" title="Periods are #BloodyNatural | Let's end period shame | The Body Shop India" thumbUrl="https://i.ytimg.com/vi/6XVihCBaX-g/mqdefault.jpg"></div><br />Prega News She Is Complete In Herself<br />      <div type="Youtube" id="X4mWIU-zcvQ" title="#SheIsCompleteInHerself - A Women’s Day Initiative by Prega News | Mona Singh (Hindi)" thumbUrl="https://i.ytimg.com/vi/X4mWIU-zcvQ/mqdefault.jpg"></div><br />Surf Excel’s Holi 2021<br />      <div type="Youtube" id="MocKmftqNI8" title="Surf excel Holi 2021 | Jo dilon ko paas laayein, woh #RangAchheHain" thumbUrl="https://i.ytimg.com/vi/MocKmftqNI8/mqdefault.jpg"></div><br /></strong><br />

You Searched For "cred startup" and got 5 results

Indian fintechs to grow 10x and manage assets worth $1 trillion by 2030

Bhakti Makwana

CRED CEO Kunal Shah reveals his salary, takes Rs 15,000 monthly

IANS

CRED-owned Happay lays off 35% of its workforce

IANS

Fintech startup Razorpay buys SaaS firm TERA Finlabs

IANS

From CRED’s Indiranagar ka Gunda to Cadbury’s reimagined Kuch Khaas Hai, here are a few campaigns that stood out in 2021

Karuna Sharma

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