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>The company plans to use the fresh funding for marketing purposes, hiring people and acquiring new businesses.</li><li>The fintech startup had raised $20 million last year, at a valuation of $700-$750 million.</li><li>A company can go for an IPO within 12 months of receiving SEBI’s approval, which <keyword id="143842" type="General" weightage="20" keywordseo="mobikwik" source="Orion">Mobikwik</keyword> got last November.</li></ul>Gurugram-based Mobikwik is in talks to raise $100 million as there has been a delay in its initial public offering (IPO) plans, the digital payments company’s founder and CEO Upasna Taku said. Taku, in a conversation with <a href="https://www.bloomberg.com/news/articles/2022-06-08/mobikwik-seeks-to-raise-100-million-after-deferring-planned-ipo">Bloomberg</a>, revealed that the company plans to use the fresh funding for marketing purposes, hiring people and acquiring new businesses. The company has not yet decided the valuation for the current funding round, she said. The fintech startup had raised $20 million from Abu Dhabi Investment Authority (ADIA) in June last year, at a valuation of $700-$750 million. So far, the payment service has raised $176 million in funding, according to business insights platform <a href="https://www.crunchbase.com/organization/mobikwik">Crunchbase</a>. The company counts American Express, Bajaj Finance, Cisco System, Sequoia Capital and Treeline Asia as investors, who will also be selling a part of their shareholdings in the IPO. The company intends to raise ₹1,900 crore through this IPO. Taku confirmed that the company still plans to launch an IPO but at a more opportune time. In a previous conversation with Business Insider, Taku mentioned that the company still has till <a href="https://www.businessinsider.in/business/startups/news/mobikwik-ipo-is-not-happening-this-quarter/articleshow/89891819.cms">November 2022 to head for an IPO</a> as they received Securities and Exchange Board of India’s (SEBI) approval in November last year. A company can go for an IPO within 12 months of receiving SEBI’s approval. <cmsannotation type="cmsannotation" annotationid="Unstable markets and lacklustre IPOs make Mobikwik jittery" comment="subhead" text="Unstable markets and lacklustre IPOs make Mobikwik jittery">Unstable markets and lacklustre IPOs make Mobikwik jittery</cmsannotation> Taku said the company is waiting for stable market conditions to go public. “As you can see, they [markets] are fairly up and down and unstable. And not just in India but even globally. Now thanks to the <a href="https://www.businessinsider.in/politics/world/news/trump-warns-of-a-potential-world-war-as-a-result-of-russia-ukraine-conflict/articleshow/89878873.cms">Ukraine-Russia war cry</a>, I think, aur he hone wala hai [the instability is likely to extend]. I don’t think it will be possible for any tech companies to IPO anytime soon, definitely not in the next couple of months,” <a href="https://www.businessinsider.in/business/startups/news/mobikwik-ipo-is-not-happening-this-quarter/articleshow/89891819.cms">Taku told Business Insider </a>in February 2022. However, an IPO is still on the cards, and Mobikwik is ready, she added. “But it is definitely a target for us to get to the public markets. We have the SEBI approval, our numbers even for the December quarter are fantastic. We are ready. Business performance is strong, SEBI approval is there. But the markets are not ready so we have to make sure that we continue building the platform and wait for the right time,” she added. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/business/ecommerce/news/flipkart-has-lived-up-to-expectations-so-far-says-walmart-ceo-confirms-ipo-plans/articleshow/92096890.cms">Flipkart has ‘lived up to expectations so far’, says Walmart CEO, confirms IPO plans</a> <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-has-lived-up-to-expectations-so-far-says-walmart-ceo-confirms-ipo-plans/articleshow/92096890.cms"></a><a href="https://www.businessinsider.in/business/startups/news/pepper-content-raises-14-million-to-enter-the-us-market/articleshow/92084581.cms">INTERVIEW: Pepper Content skip the traditional Middle East route, heads directly for the US market</a> <a href="https://www.businessinsider.in/business/ecommerce/news/after-amazon-flipkart-reliance-and-tata-neu-indias-133-billion-ecommerce-market-may-be-too-little-for-a-fifth-player/articleshow/92062540.cms">After Amazon, Flipkart, Reliance and Tata Neu, India's $133 billion ecommerce market may be too little for a fifth player</a>

Mobikwik looks to raise $100 million as it delays IPO plans, founder says the ‘markets are not ready’

<ul><li><keyword id="143842" type="General" weightage="20" keywordseo="mobikwik" source="Orion">Mobikwik</keyword> will not be heading for its IPO in the January to March quarter due to unstable market conditions arising globally.</li><li>Mobikwik had received SEBI approval for its IPO back in November 2021 and has the option to go public by November this year.</li><li>Several analysts have also emphasized that many IPOs may get delayed due to the ongoing conflict between Russia and Ukraine.</li></ul>Indian payment service provider Mobikwik will not be heading for its initial public offering (IPO) in the January to March quarter due to unstable market conditions arising globally. “As you can see, they [markets] are fairly up and down and unstable. And not just in India but even globally. Now thanks to the<a href="https://www.businessinsider.in/politics/world/news/trump-warns-of-a-potential-world-war-as-a-result-of-russia-ukraine-conflict/articleshow/89878873.cms"> Ukraine-Russia war cry</a>, I think, aur he hone walla hai [the instability is likely to extend]. I don’t think it will be possible for any tech companies to IPO anytime soon, definitely not in the next couple of months,” Upasana Taku, cofounder of Mobikwik told Business Insider. “But it is definitely a target for us to get to the public markets. We have the SEBI approval, our numbers even for the December quarter are fantastic… We are ready. Business performance is strong, SEBI approval is there. But the markets are not ready so we have to make sure that we continue building the platform and wait for the right time,” she added. Mobikwik had received Securities and Exchange Board of India’s (SEBI) approval for its IPO in November 2021. The company had <a href="https://www.businessinsider.in/business/startups/news/mobikwik-founder-says-they-are-not-selling-any-shares-in-the-ipo/articleshow/88392998.cms">previously</a> also emphasised that they are ready to go for public listing with stronger financials, however, the company would be jumping into the public market once the conditions are favourable. It is important to note that a company can go for an IPO within 12 months of receiving SEBI’s approval. In this case, Mobikwik has the opportunity to hit the public market by November 2022. The company intends to raise ₹1,900 crore through this IPO,<a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"> according </a>to Mobikwik’s draft red herring prospectus (DRHP). Investors like American Express, Bajaj Finance, Cisco System, Sequoia Capital and Treeline Asia will be selling a part of their shareholdings, the document has revealed. Apart from Mobikwik, other Indian tech companies like hospitality giant OYO, logistics company Delhivery and ecommerce giant Snapdeal are also looking to go public this year. However, these companies are yet to get SEBI’s approval on their IPO. Several analysts have also emphasised that <a href="https://www.businessinsider.in/stock-market/news/russias-ukraine-war-may-give-indias-upcoming-ipos-some-cold-feet/articleshow/89810954.cms">many IPOs may get delayed</a> due to the ongoing conflict between Russia and Ukraine. To add to this, the frequent selling of foreign institutional investors, weak market condition and upcoming manmont IPO from LIC are other factors that may push companies towards other directions. Companies fear that IPOs won’t get a good response and remain undersubscribed, which may also lead to weak listing gains for the investors. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/as-long-as-mukesh-ambani-is-there-to-rescue-the-market-doesnt-care-about-future-retails-financial-stress/articleshow/89886569.cms">As long as Mukesh Ambani is there to rescue, the market doesn't care about Future Retail's financial stress</a> <a href="https://www.businessinsider.in/business/startups/news/indian-startups-like-dunzo-swiggy-dealshare-raised-8-billion-in-january-and-february-2022/articleshow/89890583.cms">Indian startups raised around $1 billion a week in January and February</a> <a href="https://www.businessinsider.in/stock-market/news/sensex-falls-sharply-on-worsening-russia-ukraine-war-hdfc-bank-axis-bank-eicher-motors-among-biggest-losers/articleshow/89886018.cms">Markets remain worried as energy rich Russia faces harsh sanctions from western countries</a>

Mobikwik IPO is not happening this quarter

<ul><li>Relentless FII selling, initiation of a war between two countries and high inflation has sucked out investors’ risk appetite leading to people selling stocks across the globe in a panic.</li><li>All this has spoiled the market’s mood and their ability to put in fresh money even for their favourite initial public offering (IPOs).</li><li>More than 10 companies in India are in line to launch their public issues anytime soon.</li></ul>The Indian equity markets are witnessing one of the biggest crashes in history as Russia declares a war on Ukraine. Indian markets, on Thursday, wiped out $177 billion of investors' money as Sensex tumbled nearly 5%. All because Russian President Vladimir Putin announced a military operation in Ukraine despite the US and western countries insisting on imposing sanctions and indicating not to invade. Initiation of a war between the two countries seems to have sucked out investors’ risk appetite leading to people selling stocks across the globe in a panic. The Russia-Ukraine crisis added to the already reeling market worrying over high inflation and expectations of aggressive interest rate hike by the US Fed, which triggered losses in Indian markets as foreign institutional investors (FII) continued to scoop out their money from here for five straight months. All this has spoiled the market’s mood and risk appetite of investors to put in fresh money even for their favourite initial public offering (IPOs). It is true that the companies are delaying their IPO launches because of the weak market environment and the wave would only return if markets get a bit better, as per Ajay Saraf, head of investment banking and institutional equities at ICICI Securities. Here are some of the IPOs expected to come out soon <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></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;">Companies </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;">Expected IPO size </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;">Life Insurance Corporation (LIC) </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;">₹70,000 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;">OYO Rooms </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;">₹7,000 crore + shares by promoters </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;">Droom </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;">₹2,000 crore + shares by promoters </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;">Delhivery </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;">₹5,000 crore + shares by promoters </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;">PharmEasy </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;">₹6,250 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;">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;">₹1,900 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;">Ixigo </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;">₹1,600 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;">Go Airlines </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;">₹3,600 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;">Arohan Financial </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;">₹1,800 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;">Penna Cement </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;">₹1,550 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;">Utkarsh Small Finance Bank </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;">₹1,350 crore </td></tr></tbody></table>(Source: Angel One) Analysts believe that many IPOs are getting delayed because of following reasons -- geopolitical risk of <keyword id="9594427" type="General" weightage="20" keywordseo="russia-ukraine-war" source="Orion">Russia Ukraine war</keyword> looming, frequent selling by FIIs and weak market conditions and the upcoming mammoth IPP from LIC. Companies fear that IPOs won’t get a good response and remain undersubscribed, which may also lead to weak listing gains. “Companies that have filed for IPOs are delaying their procedures due to the upcoming massive LIC IPO. The timelines for LIC IPO have been informed well in advance and it is advised that companies avoid clashing with timings of LIC IPO, as it will create weak liquidity for other IPOs. Some managements have indicated they will be delaying their issues and waiting for the LIC IPO to get over, by not delaying there are chances that IPOs may be undersubscribed and give out weak listing gains,” said Manoj Dalmia, founder and director at Proficient Equities. So far in 2022, only three IPOs have been listed in India’s exchanges out of which two of them opened on a weak note. Further, it is noticeable that companies are in a wait-and-watch zone for market sentiment to get a bit better before they launch their IPOs. “The weak market sentiment has deferred listing of companies whose valuation may need to be reconsidered against the backdrop of sharp corrections in some recently listed stocks which were overvalued,” said Neha Khanna, director at ValPro. Vijay Chandok, managing director and chief executive at ICICI Securities believes that crude oil trajectory also will be a key factor to watch out for, going ahead. “We don’t expect major sanctions which may drive [a] big spike in crude, equally harming Europe and US, or even in terms of aggressive rate hike leading to slower economic growth. We, thus, believe that market stabilisation is likely in the short term,” said Chandok. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/what-is-the-role-of-nato-in-the-russia-ukraine-conflict/articleshow/89802216.cms">EXPLAINED: The role of NATO in the Russia-Ukraine conflict</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/investment/news/russia-ukraine-conflict-wipes-over-200-billion-from-crypto-markets-cardano-avalanche-and-polkadot-worst-hit/articleshow/89804413.cms">Russia-Ukraine conflict wipes over $200 billion from crypto markets — Cardano, Avalanche, and Polkadot worst hit</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/taiwan-seems-jittery-amidst-the-russia-ukraine-conflictheres-why/articleshow/89796361.cms">Taiwan seems jittery amidst the Russia-Ukraine conflict—Here’s why</a>

Russia’s Ukraine invasion may give India’s upcoming IPOs some cold feet

A robot developed by the Indian Institute of Technology (IIT) Madras to help eliminate <keyword id="6390598" type="General" weightage="20" keywordseo="manual-scavenging" source="Orion">manual scavenging</keyword> in India, is all set for field deployment, the institute said on Thursday. Ten units of the robot named '<keyword id="12828292" type="General" weightage="20" keywordseo="homosep" source="Orion">HomoSEP</keyword>' will be first deployed across Tamil Nadu, and later in Gujarat and Maharashtra. "The septic tank is a poisonous environment, filled with semi-solid and semi-fluid human faecal material that make up about two-thirds of the tank. Hundreds of deaths are reported every year across India, due to manual scavenging in septic tanks despite bans and prohibitory orders," said Prof. Prabhu Rajagopal, from Department of Mechanical Engineering, <keyword id="6356755" type="General" weightage="20" keywordseo="iit-madras" source="Orion">IIT Madras</keyword>, in a statement. HomoSEP was first developed in 2019 as a final year Masters' project by Divanshu Kumar under the guidance of Prof. Rajagopal. Despite the pandemic-related difficulties over the next couple of years, the IIT Madras researchers collaborated with an IIT Madras-incubated start-up Solinas Integrity Private Limited (now headed by Kumar) to further develop HomoSEP. The path-breaking project was also supported first by several CSR donors over the years. The HomoSEP Robot can homogenise the hard sludge in septic tanks through custom-developed rotary blade mechanism and pump the tank slurry using an integrated suction mechanism. Sanitation workers will be able to operate the HomoSEP on their own, after being provided with the relevant training and appropriate guidance along with necessary safety measures, both of which our team is working on right now. Safety plays a vital role in this whole procedure, starting with the design of HomoSEP itself. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/business/ecommerce/news/meesho-recorded-5-35-million-orders-during-the-one-day-sale/articleshow/92100754.cms">India's youngest ecommerce giant received more than 60 orders every second during its one-day sale</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/business/news/mobikwik-plans-to-raise-100-million-as-ipo-delayed/articleshow/92099731.cms">Mobikwik looks to raise $100 million as it delays IPO plans, founder says the ‘markets are not ready’</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/zomato-can-show-ebitda-profitability-in-the-next-three-years-but-only-on-one-condition/articleshow/92095600.cms">Zomato’s path to profitability in the next three years requires two things, say analysts</a>

IIT Madras to deploy robot to clean septic tanks in Tamil Nadu and end manual scavenging

<ul><li><cmsannotation type="cmsannotation" annotationid="Second biggest players in the BNPL market" comment="subhead" text="Second biggest players in the BNPL market"></cmsannotation><keyword id="6354742" type="General" weightage="20" keywordseo="flipkart" source="Orion">Flipkart</keyword> Pay Laters provides credit up to ₹1 lakh to its customers depending on their credit profile.</li><li>The <keyword id="6592393" type="General" weightage="20" keywordseo="flipkart-pay-later" source="Orion">Flipkart Pay Later</keyword> feature is currently only available on Flipkart and Myntra, but it will be expanded to other platforms.</li><li>The company is now looking to go public in 2023 at a valuation of $60-70 billion.</li></ul>Walmart-owned ecommerce giant Flipkart on Thursday announced that it has doubled the user base of its ‘Buy Now, Pay Later’ (<keyword id="9522245" type="General" weightage="20" keywordseo="bnpl" source="Orion">BNPL</keyword>) business. The Flipkart Pay Later now has over six million users within seven months. Flipkart Pay Laters provides credit up to ₹1 lakh to its customers depending on their credit profile. The fintech venture allows customers to shop any number of times throughout the month and pay the total bill amount in part within 30 days or through EMI. The feature is currently only available on Flipkart and Myntra, but it intends to expand it further. After that, they could face competition from players like Simpl, LazyPay, Mobikwik, <keyword id="5988397" type="General" weightage="20" keywordseo="paytm-postpaid" source="Orion">Paytm Postpaid</keyword> and <keyword id="18635" type="General" weightage="20" keywordseo="amazon" source="Orion">Amazon</keyword> Pay Later. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></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;">Companies </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;">Customers </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;">Flipkart 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;">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;">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;">3.5 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;">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;">3 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;">2.8 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;">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;">2 million+ </td></tr></tbody></table>Source: Company announcements <cmsannotation type="cmsannotation" annotationid="Second biggest players in the BNPL market" comment="subhead" text="Second biggest players in the BNPL market">Second biggest players in the BNPL market</cmsannotation> With 6 million users, Flipkart Pay Later is the second biggest ‘<keyword id="4585897" type="General" weightage="20" keywordseo="buy-now-pay-later" source="Orion">Buy Now Pay Later</keyword>’ player after Simpl. The feature can be used to purchase items across categories like groceries, lifestyle, general merchandise and home. It also offers longer-tenured EMI options to buy mobiles, consumer electronics and large appliances. Flipkart Pay Later currently processes 3 million long tenured EMI transactions on a monthly basis, and 90% of these transactions come from repeat customers. The company claims to offer a frictionless checkout experience as the platform does not require any paperwork or down payment before offering the credit line. “As per research, the Buy Now Pay Later (BNPL) market will grow 10x over the next five years, surpassing $40 billion by 2026. Interestingly, 45% of customers prefer to make purchases with BNPL options even if they have a credit card owing to the convenience that BNPL provides,” Dheeraj Aneja, senior vice president and head of fintech and payments group at Flipkart, said. Flipkart is currently pulling all strings for a successful public debut by 2023. The company raised <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-raises-3-6-billion-at-a-valuation-of-over-37-billion/articleshow/84338594.cms">$3.6 billion in July 2021 </a>in a run-up to this ambition, and is currently valued at $37 billion. It initially planned an initial public offering (IPO) in the USA by November 2022, seeking a valuation of $50 billion, but the plan was delayed due to market volatility. The company is now looking to go public in 2023 at a<a href="https://www.businessinsider.in/business/corporates/news/flipkart-ipo-may-happen-in-2023-at-a-valuation-of-70-billion/articleshow/90703817.cms"> valuation of $60-70 billion</a>. To make this into a reality, Flipkart is looking to boost its online healthcare services and travel booking heavily, as per media reports. SEE ALSO <a href="https://www.businessinsider.in/tech/news/the-state-of-uttar-pradesh-and-how-its-been-feeding-facebook-ad-revenues/articleshow/91660700.cms" data-type="tilCustomLink" style="">The state of Uttar Pradesh and how it’s been feeding Facebook ad revenues</a> <a href="https://www.businessinsider.in/business/news/heatwave-has-turned-acs-from-a-luxury-to-a-necessity-but-margins-remain-muted-for-the-players/articleshow/91655568.cms" data-type="tilCustomLink" style="">Heatwave has turned ACs from a luxury to a necessity — but margins remain muted for the players</a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-vs-bharti-airtel-four-charts-to-showcase-how-indian-telecom-giants-faired-in-2022/slidelist/91640306.cms" data-type="tilCustomLink" style="">Reliance Jio Vs Bharti Airtel — Four Charts That Showcase How The Indian Telecom Giants Faired In 2022</a>

Flipkart claims to be the second biggest ‘buy now, pay later’ player ahead of Paytm, Amazon

<ul><li><keyword id="3480589" type="General" weightage="20" keywordseo="meesho" source="Orion">Meesho</keyword> witnessed nearly a five-fold increase in the number of orders during its ‘Maha Indian Savings Sale’.</li><li>The company also claimed that 78% of its demand came from Tier 2 markets like Bhilal, Guntur, Hubli and Kollam.</li><li>Meesho claimed that nearly 1 lakh sellers have participated in the recent sale, out of which 26,000 were new.</li></ul>Facebook-backed ecommerce company Meesho claims to have recorded 5.35 million (53.5 lakh) orders during its one-day sale held earlier this week on Sunday (June 5), translating to over 60 orders every second. Meesho noted that it witnessed nearly a five-fold increase in the number of orders during its one-day sale this year, compared to 1 million orders in its 2021 sale. The company also claimed that 8 out of 10 orders came from Tier 2 markets like Bhilal, Guntur, Hubli, Kollam, Meerut and Port Blair. Top categories to witness the highest growth during the sale were Apparel, Kidswear, Consumer Electronics and Home Decor. Meesho claimed that nearly 1 lakh sellers have participated in the recent sale – and 3 out of 4 were from Tier 2+ regions like Bathinda, Haldwani, Solapur and Tirunelveli among others. “Participating sellers witnessed ~217% increase in orders during the sale event compared to business-as-usual (BAU),” the company added. About 26,000 sellers participated in Meesho’s sale for the first time. “Despite rising inflation and macroeconomic conditions, we hit an all-new record of 5.35 million orders during the one-day sale event, serving over ~20,000+ pincodes. In the last 6 months, we have witnessed a ~3.75X jump in seller participation in sale events,” Utkrishta Kumar, CXO of Business at Meesho, said. Founded in 2015 by Vidit Aatrey and Sanjeev Barnwal, Meesho is an ecommerce company that has raised over a billion dollars till date. The company’s investors include Meta (formerly known as Facebook), SoftBank, Trifecta Capital Advisors, Fidelity Management and Research Company and others. The company — whose mobile app has been downloaded 102 million times — was valued at <a href="https://www.businessinsider.in/business/startups/news/meesho-raises-more-than-half-a-billion-dollars-in-the-fourth-biggest-funding-round-this-year/articleshow/86636161.cms">$4.9 billion </a>in September 2021. It claims to have over 44 million products listed on its platform. Meesho competes with other ecommerce giants Amazon, Flipkart and Reliance’s JioMart. Although JioMart was founded four years after Meesho, the company was operating under the social commerce industry then. The company pivoted to the social commerce model only last year. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/pepper-content-raises-14-million-to-enter-the-us-market/articleshow/92084581.cms" style="">INTERVIEW: Pepper Content skip the traditional Middle East route, heads directly for the US market</a> <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-has-lived-up-to-expectations-so-far-says-walmart-ceo-confirms-ipo-plans/articleshow/92096890.cms" style="">Flipkart has ‘lived up to expectations so far’, says Walmart CEO, confirms IPO plans</a> <a href="https://www.businessinsider.in/business/news/mobikwik-plans-to-raise-100-million-as-ipo-delayed/articleshow/92099731.cms" style="">Mobikwik looks to raise $100 million as it delays IPO plans, founder says the ‘markets are not ready’</a>

India's youngest ecommerce giant received more than 60 orders every second during its one-day sale

The much expected launch of <keyword id="11841922" type="UNKNOWN" weightage="20" keywordseo="indias-first-geo-imaging-satellite">Indias first Geo-Imaging Satellite</keyword> (GISAT-1) renamed as EOS-03 failed on Thursday. About seven minutes into its launch at 5.43 a.m. the Indian rocket Geosynchronous Satellite Launch Vehicle (GSLV-F10) encountered problems in its cryogenic engine-the third and last engine. The rocket could not send details to the <keyword id="116095" type="ORGANIZATION" weightage="20" keywordseo="Indian-Space-Research-Organisation">Indian Space Research Organisation</keyword>'s (<keyword id="6358064" type="UNKNOWN" weightage="20" keywordseo="isro">ISRO</keyword>) ground centre at the spaceport in Sriharikota. Announcing the mission failure <keyword id="7183136" type="UNKNOWN" weightage="20" keywordseo="k-sivan">K.Sivan</keyword>, Chairman, ISRO said: "<keyword id="6416567" type="UNKNOWN" weightage="20" keywordseo="technical">Technical</keyword> anomaly was observed in the cryogenic stage and the mission could not be accomplished." Indias first Geo-Imaging Satellite-1 (GISAT-1) renamed as Earth Observation Satellite-03 (EOS-03) seems to have been jinxed from the start. The Geosynchronous Satellite Launch Vehicle-F10 (GSLV-F10) rocket that flew on Thursday morning from here carrying the GISAT-1 failed on its mission. Originally the GISAT-1/EOS-03 was slated for launch on March 5, 2020, but hours before the launch, the Indian Space Research Organisation (ISRO) announced postponement of the mission owing to some technical glitch. Soon after, the Covid-19 pandemic and the lockdown delayed the mission. The rocket had to be dismantled and cleaned up. The satellite in also underwent a name change from GISAT-1 to EOS-03. Subsequently, the GISAT-1/EOS-03 launch was slated for March 2021 but due to problems in the satellite's battery side, the flight got delayed again. With the replacement of the battery, the satellite and the rocket were being readied for their flight at Sriharikota when the second wave of Covid-19 swept in, affecting many at the rocket launch centre. The Indian space agency had earlier said the 2,268 kg GISAT-1/EOS-03 would provide a real time image of a large area of region of interest at frequent intervals. It will also enable quick monitoring of natural disasters, episodic events, and any short-term events. The satellite had a payload imaging sensors of six band multi-spectral visible and near infra-red with 42 metres resolution, 158 bands hyper-spectral visible and near infra-red with 318 metres resolution, and 256 bands hyper-spectral short wave infra-red with 191 metres resolution. A four-metre diameter Ogive shaped payload fairing (heat shield) made with composite will be used in the rocket for the first time, ISRO said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/samsung-unveils-new-foldable-phones-galaxy-watch-4-series-and-galaxy-buds-2-wireless-earbuds/articleshow/85243394.cms">Samsung unveils new foldable phones, Galaxy Watch 4 series and Galaxy Buds 2 wireless earbuds</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/ten-most-awaited-ipos-in-the-coming-months-in-india/slidelist/85241641.cms">Paytm, PolicyBazaar, MobiKwik, Nykaa and more -- Ten most awaited IPOs in the coming months</a>

India's 'fat boy' rocket launch fails, taking the country's first geo-imaging satellite down with it

<ul><li><keyword id="6947922" type="UNKNOWN" weightage="20" keywordseo="chiratae">Chiratae</keyword> plans to invest in 50 startups with this fund over the next couple of years.</li><li>It will look to make bets in 20 startups annually, working across seed stage to late stage.</li><li>Chiratae is also an investor in PolicyBazaar, which has recently filed preliminary papers to go public.</li><li>Its portfolio includes 100 companies such as Lenskart, Firstcry and Cure.fit.</li></ul>Investment firm <keyword id="6891457" type="UNKNOWN" weightage="20" keywordseo="chiratae-ventures">Chiratae Ventures</keyword> has announced the final close of its fourth fund at $337 million on Friday, August 6. The Mumbai-based venture capital (VC) firm will use this capital to invest in about 50 companies over the next couple of years. It plans to close about 15-20 deals on an annual basis, Chiratae Ventures’s executive director and partner Karthik Prabhakar told Business Insider. These investments would range from early-stage to later stage rounds. <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;">Stage </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;">Average Investment Size </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;">Seed </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-$1.5 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;">Series A </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;">Up to $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;">Series B </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;">Up to $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;">Later Stages/Larger Cheques </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;">Up to $40 million </td></tr></tbody><tbody></tbody><tbody></tbody></table> Though the closure of Chiratae’s Fund IV was delayed by over 10 months due to COVID-19, it was oversubscribed by 25%. The fund is backed by marquee investors such as World Bank’s investment arm International Finance Corporation (IFC), Infosys’ Kris Gopalakrishnan, Asian Paints FO, Unilever, ITC, Premji Invest, Nippon, and others. Chiratae Ventures (formerly known as IDG Ventures India) was founded by <keyword id="145348" type="PERSON" weightage="20" keywordseo="Sudhir-Sethi">Sudhir Sethi</keyword> and <keyword id="3092057" type="PERSON" weightage="20" keywordseo="TC-Meenakshisundaram">TC Meenakshisundaram</keyword> in 2006. The investment firm — which has $950 million as assets under management (AUM) — has invested in more than 100 companies in India. <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;">Investments </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 </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;">Exits </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;">38 </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;">Key Investments </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;">Agrostar, Bizongo, Bounce, Cropin, Emotix, GoMechanic, HealthifyMe, PlayShifu, Pyxis, and Vayana </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;">Key Exits </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;">CloudCherry, Flipkart, Manthan, Myntra, Newgen, PlaySimple, and Xpressbees </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;">Unicorns* </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;">Firstcry, Lenskart, PolicyBazaar </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;">Soonicorns** </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;">Curefit, Uniphore </td></tr></tbody><tbody></tbody><tbody></tbody></table>*Unicorns are companies valued at or above $1 billion. **Soonicorns are companies are going become unicorn soon Its portfolio companies include Yatra and Newgen, which went public in 2016 and 2018 respectively. The company currently has three initial public offering (IPO)-bound companies in its portfolio. This includes online insurance aggregator PolicyBazaar, which recently filed its <a href="https://www.businessinsider.in/business/news/policybazaar-ipo-all-you-need-to-know-the-details-of-sixth-largest-fintech-startup/articleshow/84967042.cms">preliminary papers </a>with market regulator Securities and Exchange Board of India (SEBI) to go public. Although the investment firm claims to have two more publicly-listed companies in making over the next three years, it has refused to share any more details about them. Chiratae has big plans with startups going public The Indian startup ecosystem was busy churning out unicorns in the summer of 2021, but the monsoons are all about IPOs. Over the last months, several <a href="https://www.businessinsider.in/business/startups/news/these-are-some-of-the-highest-paid-founders-of-indian-startups-tapping-capital-markets-this-year/slidelist/85005261.cms">companies</a> like Nykaa, Mobikwik, Paytm, Fino Payments Bank, and CarTrade have filed their papers for IPO. Meanwhile, Zomato and EasyMyTrip have already listed publicly. The way things are going, Chiratae expects to have more IPO-bound or listed companies in its portfolio. The investment firm has not pitched to sell any of its shareholdings in PolicyBazaar, the fintech startups’s <a href="https://www.businessinsider.in/business/news/policybazaar-ipo-all-you-need-to-know-the-details-of-sixth-largest-fintech-startup/articleshow/84967042.cms">draft red herring prospectus (DRHP)</a> has revealed. Talking to Business Insider, Chiratae Ventures’ founder and chairperson Sudhir Sethi said, “We've exited 35 or 38 companies. Some have died, so the active portfolio is around 60. We invest in 15 every year. Will there be some who will become unicorns? Will there be some who won't last out longer? The answers are very big yes. The three numbers going to ten, don’t be surprised because scaling is happening.” Meanwhile, Meenakshisundaram added that IPOs are going to be a big trend as companies in the last decade have grown to scale. There have been a lot of exits — both in secondary market or in IPO — which has given the investors the confidence to come into this asset class, he added. Meanwhile, Sethi added that decade old companies are going public now and the cycle will continue forward. “I think the world of unicorns is a given, right? It's the world of decacorns, which is now being thought of,” he added. “Compared to yesterday, today, obviously, is a lot more exciting, and the best time to be an entrepreneur and a VC,” Prabhakar added. SEE ALSO <a href="https://www.businessinsider.in/tech/news/google-is-now-using-chrome-as-another-security-layer-for-account-sign-ins/articleshow/84975356.cms" style="">Google is now using Chrome as an added security layer for account sign-ins</a> <a href="https://www.businessinsider.in/stock-market/news/how-to-check-allotment-status-of-glenmark-life-sciences-ipo/articleshow/84978486.cms">Glenmark Life Sciences IPO: How to check allotment status, listing date and more</a>

PolicyBazaar investor Chiratae closes another fund at $337 million, with three portfolio startups ready to go public

<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>

You Searched For "mobikwik ipo delay" and got 9 results

Mobikwik looks to raise $100 million as it delays IPO plans, founder says the ‘markets are not ready’

Kritti Bhalla

Mobikwik IPO is not happening this quarter

Kritti Bhalla

Russia’s Ukraine invasion may give India’s upcoming IPOs some cold feet

Bhakti Makwana

IIT Madras to deploy robot to clean septic tanks in Tamil Nadu and end manual scavenging

IANS

Flipkart claims to be the second biggest ‘buy now, pay later’ player ahead of Paytm, Amazon

Kritti Bhalla

India's youngest ecommerce giant received more than 60 orders every second during its one-day sale

Kritti Bhalla

India's 'fat boy' rocket launch fails, taking the country's first geo-imaging satellite down with it

IANS

PolicyBazaar investor Chiratae closes another fund at $337 million, with three portfolio startups ready to go public

Kritti Bhalla

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

Kritti Bhalla

Popular Keywords

Buying Guides