Indian Startup News Ep 52: Hike Messenger Shuts Down, Dark Side of India's Fintech Boom & Nazara IPO скачать в хорошем качестве

Indian Startup News Ep 52: Hike Messenger Shuts Down, Dark Side of India's Fintech Boom & Nazara IPO

This week in Indian Startup News, we talk about the dark side of India’s fintech boom, Nazara Technologies becomes the first Indian gaming company to file IPO, BharatPe’s bid to acquire PMC Bank, the end of Hike Messenger and Cure.fit acquires Onyx. In funding news, Digital Insurance raises funds to become India’s first unicorn of 2021, Dunzo raises $40 million and DeHaat raises $30 million. 00:00 Introduction 00:30 Dark side of India’s fintech boom 04:36 Nazara Technologies becomes first Indian gaming company to file IPO 07:05 BharatPe’s bid to acquire PMC Bank 08:34 End of Hike Messenger 10:20 Cure.fit acquires Onyx 11:11 Digital Insurance becomes India’s first unicorn of 2021 12:18 Dunzo raises $40 million 13:03 DeHaat raises $30 million The dark side of India’s fintech boom: Over the years, there has been a flood of instant loan apps in India. But not all apps are helping the borrowers. Eight people have already committed suicide due to harassment faced by the borrowers from debt collectors of these loan apps that offer short-term loans for up to 60 days with high processing fees and exorbitant interest rates. Since it is easy to borrow without offering any collateral, people end up falling in a debt trap, trying to borrow from one app to pay the loan of another. And when they fail to pay back loans, these apps access the contact list from their phones to harass them. Google has already removed and banned more than 450 such lending apps from the Play Store. https://techcrunch.com/2021/01/13/goo... Nazara Technologies becomes the first Indian gaming company to file IPO: Nazara Technologies has started the tech IPO frenzy in India by becoming the first Indian company to file papers for its IPO. However, it is worth noting that this isn’t the first time Nazara Technologies has filed for an IPO, they had also filed for an IPO back in 2018 and had also gotten the approval of the SEBI. However, the company chose not to go for an IPO due to unfavourable market conditions. https://economictimes.indiatimes.com/... BharatPe’s bid to acquire PMC Bank: Digital payments startup BharatPe has revealed that it is one of the four companies to bid for the acquisition of PMC Bank. The company has been trying to transform itself into a digital bank since last year after it started offering loans to its merchants and also failed to secure a banking license from the RBI. https://www.cnbctv18.com/videos/busin... End of Hike Messenger: SticketChat (formerly known as Hike Messenger) has finally been removed fromboth Apple and Google stores. Since the company was founded in 2012 by Kavin Bharti Mittal, Hike has been trying to make a superapp. By 2016, they managed to get 100 million users and became one of India’s fastest growing startup to become a unicorn. This growth did not last long and their strategy to create a super app has failed, which is why Hike has finally decided to shutdown Hike Messenger. https://techcrunch.com/2021/01/18/ten... Cure.fit acquires Onyx: Cure.fit has acquired California-based healthtech startup Onyx to make their online fitness classes more interactive, social and personalised and to accelerate business in the international market (specifically the US). https://yourstory.com/2021/01/curefit... Digital Insurance becomes India’s first unicorn of 2021: Reportedly, Digit Insurance has raised $19 million (Rs 135 crore) from A91 Partners, Faering Capital, and TVS Capital to become India’s first unicorn of 2021. https://timesofindia.indiatimes.com/b... Dunzo raises $40 million: Dunzo has raised $40 million (Rs 292 crore) from Google, Lightbox, Evolvence, Hana Financial Investment, LGT Lightstone Aspada and Alteria Capital. https://techcrunch.com/2021/01/19/goo... DeHaat raises $30 million: DeHaat has raised $30 million (219 crore) from Prosus Ventures, RTP Global, Sequoia Capital India, FMO (Dutch Entrepreneurial Development Bank), Omnivore and AgFunder. https://economictimes.indiatimes.com/... BwM Hindi Channel:    / @backstagewithmillionaires-2532   LinkedIn:   / backstagewithmillionaires   Twitter:   / bwmillionaires   Instagram:   / backstagewithmillionaires   Discord:   / discord   #startupnews #backstagewithmillionaires #bwm