COVID-19 aftermath: Funding divide among Indian startups makes survival difficult; while some bag millions, others struggle
Funding in Indian tech-led startups rose by 14 percent in the first quarter of 2020 as compared to the same period last year, yet only 16 percent startups and SMEs have cash to survive for more than three months, revealed a recent survey
Fund raising activity goes 'cold' in India; PE, VC investments may dip up to 60% in 2020 due to COVID-19: EY
In the past few years, fund raising activity has been touching record highs, and grew 28 percent to $48 billion in 2019.
Coronavirus outbreak: Now, Microsoft latest among firms to ask staff in Seattle area, Silicon Valley to work from home
Microsoft asked many of its employees in the Seattle region near its headquarters and the San Francisco Bay Area to work from home if possible until 25 March
Uber sets up over 100-staff strong Uber Money team in Hyderabad; to focus on implementing new payment methods
Besides Hyderabad, the Uber Money team also has a presence at San Francisco, Palo Alto, New York and Amsterdam tech centres, Uber said in a statement.
The startup offers credit, savings and insurance solutions to blue-collar, gig workers.
Multiple third-party startups are coming up to help fintechs recover dues
Historically, digital payments around the world have been driven by the American model defined by card associations.
Qbera works with banks and NBFCs to process personal loans for employed and self-employed individuals.
Video KYC brings in the additional benefit of being completely remote, since digital KYC still requires a visit.
The Delhi-based startup, BharatPe, has already given out shares worth $5million to 22 existing employees.
Startup investors continue to show preference to backing more experienced founders, with the proportion of founders with at least five years experience going up from 55 percent in 2017 to 82 percent this year.
Flipkart fintech isn’t focussed on individual payments or UPI. It’s an affordability construct both for customers and sellers.
Nirmala Sitharaman holds first pre-Budget consultations with representatives of digital economy, startups
Sitharaman is likely to present her second Budget for the Modi 2.0 government in Parliament on 1 February.
Nirmala Sitharaman to hold pre-Budget consultations with stakeholders from today; focus on boosting economic growth
The finance ministry has already started the Budget preparation exercise, with different ministries and departments making expenditure projections
Google writes letter to US Federal Reserve to adopt UPI-like payments mechanism; draws cheers among Indian entrepreneurs
A top banker told Tech2, UPI is being pushed to go global and now if it manages to draw the attention of the US Federal Reserve it will be big fillip for NPCI.
Facebook, Google, Amazon and other Big Tech could be forced to share data on fintech services customers
The FSB said players including Microsoft, Amazon, eBay, Baidu, Apple, Facebook and Tencent, have massive databases, while some offer asset management, payments and lending.
This QR code-based system would allow anyone with a BHIM app to scan the SGQR at NETS terminals for payments in Singapore.
India emerges third-largest ecosystem for successful startups behind China, US: Hurun Global Unicorn List 2019
Startups leading the pack from the country are payments solutions platform One97 Communications ($10 billion), cab aggregator Ola Cabs ($6 billion), online educator Byjus ($6 billion), and travel-stay finder OYO Rooms ($5 billion).
Dematerialisation of financial instruments is customer-friendly given the wide reach of mobile technologies
Fintech startup deals in India surpass China, dealmaking expected to continue at strong pace in India
China had marginally higher investments at $375 million during the period, compared to the $350 million in India.