Anuj Kacker News Today

Capital pools have diversified amid the broader tech slowdown with large global, crossover and hedge funds mostly staying away from cutting new cheques. Domestic firms and family offices such as those run by Zerodha cofounder Nikhil Kamath, Manipal Group chairman Ranjan Pai, and Premji Invest have backed startups including Subko, Quorum Club, Kites Seniorcare and The Sleep Company.

Freo joins the likes of Navi, Fibe and Kreditbee in profitability, reports positive cash flow over the last four months. They target various consumer segments with innovative financial services, ensuring sustainable business growth and asset quality.

Digital banking platform Freo on Monday said it has achieved profitability and reported gross revenue of Rs 350 crore for FY24.The company mentioned that it has been profitable for the last four months since December 2023."Our remarkable ...

Digital banking platform Freo on Monday said it has achieved profitability and reported gross revenue of Rs 350 crore for FY24.

TECH NEWS News: Freo's FY 2023-24 revenue hit Rs 350 crore. Profitable since Dec 2023, 5X revenue surge with 25M users by FY24. 40% Q4 FY24 contribution margin, diver

Rise of animation education in India: Trends & future prospects

Freo said it would utilise the funds for growth into newer categories and segments as well as to expand into new pan-India geographies. It would also launch newer product segments such as ‘credit on UPI.

The RBI has invited applications for a self-regulatory organization (SRO) for fintech firms, either for the entire sector or for specific sub-sectors. The number of SROs to be recognized will be based on the number and nature of applications received.

Two people in the know told ET that while Cred has already started distributing Axis Bank credit cards through its platform, Walmart-backed PhonePe is in the process of partnering with Axis Bank for the same.

The next big wave of UPI adoption will come from check out finance, or buy now pay later, said fintech industry insiders. Consumers will have a credit line extended by their banks to a specific account. They can use UPI to pay from the credit line.