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Fintech startup Cred valuation to hit $2 billion in $200 million funding

BENGALURU: Serial entrepreneur Kunal Shah’s two-year-old startup Cred is set to be the next unicorn (startups that are valued at $1 billion or more). A new round of funding is expected to more than double its valuation to over $2 billion, two sources aware of the matter said.
Cred, which offers rewards for credit card payments, is finalising a $200 million fund-raise that will make it the second fastest startup to become a unicorn in India, in 29 months. Business-to-business (B2B) e-commerce startup Udaan is to date the fastest to reach unicorn status, in 26 months.
Cred s eye-popping jump in valuation in just two months after it was valued at a little over $800 million in January indicates the frenzy among investors fueling growth-stage startups in India. ....

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SMS scrubbing: Faulty implementation wipes out OTPs, 40% traffic disrupted

Several services such as net banking, credit card payments, e-commerce services, Aadhaar authentication and even Co-WIN registrations were disrupted on Monday as SMSes and OTPs failed to arrive after telecom companies implemented a new set of regulations for commercial text messages, according to a report in
Economic Times.
Out of one billion average daily commercial SMS deliveries, around 40 per cent of traffic was disrupted till Monday evening. The failure rate was over 25 per cent among the leading private and public sector banks.
Officials at payments companies and banks, among others, blamed telcos for faulty implementation of the new system to check spam messages. ....

Cellular Operators Association Of India , Indian Bank Association , Operators Association , Telecom Sector , Otp Service , Otp Service Failurs , Net Banking , Credit Card Payments , E Commerce Services , Aadhaar Authentication , Faulty Implementation Of Otp Service , Telcos Commercial Sms Deliveries , Official Payments , செல்லுலார் ஆபரேட்டர்கள் சங்கம் ஆஃப் இந்தியா , இந்தியன் வங்கி சங்கம் , ஆபரேட்டர்கள் சங்கம் , தொலை தொடர்பு துறை , ஓட்ப் சேவை , நிகர வங்கி , கடன் அட்டை கொடுப்பனவுகள் , ஏ வர்த்தகம் சேவைகள் , ஆதார் அங்கீகார , தவறு செயல்படுத்தல் ஆஃப் ஓட்ப் சேவை , அதிகாரி கொடுப்பனவுகள் ,