2b:I[121985,["/_next/static/chunks/3x3cuhfvyro7g.js","/_next/static/chunks/2juqfhd1m50ye.js","/_next/static/chunks/02dyz7xa1fw9g.js","/_next/static/chunks/04gk_9815y53x.js","/_next/static/chunks/05i3kbecaf36a.js","/_next/static/chunks/0lz7aaazmjrej.js","/_next/static/chunks/0_n-3b9f4qdk7.js","/_next/static/chunks/3kr9ln0r2vy3k.js","/_next/static/chunks/1veq7ba-mz8ii.js","/_next/static/chunks/3nvyg97i0vsw6.js","/_next/static/chunks/0f7vxmowkzi2o.js","/_next/static/chunks/1-l78_-bohqs7.js","/_next/static/chunks/423e4z_ox2por.js","/_next/static/chunks/31rytlzey740g.js","/_next/static/chunks/2vo0jws1ltg70.js","/_next/static/chunks/1o943x5wlx3hc.js","/_next/static/chunks/0ga643pyh_wmo.js","/_next/static/chunks/35-re7a2_s4nf.js","/_next/static/chunks/06cjh008924jz.js","/_next/static/chunks/3uh7eap-jh_g-.js","/_next/static/chunks/3r5elxtyh6ddi.js","/_next/static/chunks/44jwknvsuesue.js","/_next/static/chunks/04333k32no1wp.js","/_next/static/chunks/10tuj32njbzon.js"],"default"] 2a:T584,{"@context":"https://schema.org","@type":"NewsArticle","datePublished":"2012-07-23T09:26:08.000Z","dateModified":"2019-09-05T07:29:09.493Z","inLanguage":"en_GB","image":null,"headline":"Poll of the Week: Which Cloud Storage Solution do you prefer?","articleBody":"The weekly polls aim to capture the pulse of CloudStory community on various cloud related issues. Do take this week’s poll, and we shall come back to you with the results on the coming Monday.[cardoza_wp_poll id=2]Take a look at last week’s poll results here.","articleSection":"Stories","publisher":{"@context":"https://schema.org","@type":"NewsMediaOrganization","name":"YourStory","url":"https://yourstory.com","legalName":"YourStory Media Pvt. Ltd.","logo":{"@type":"ImageObject","url":"https://images.yourstory.com/content.ys.com/media/images/logos/YourStory.png","width":"330","height":"60"},"sameAs":["https://www.facebook.com/yourstorycom","https://twitter.com/YourStoryCo","https://www.youtube.com/user/yourstorytv","https://instagram.com/yourstory_com","https://in.linkedin.com/company/yourstory-com"],"address":{"@type":"PostalAddress","streetAddress":"#259, 6th Cross Rd, 2nd Main Indiranagar, 1st Stage Bengaluru, Karnataka 560038","addressLocality":"Bengaluru","addressRegion":"Karnataka","addressCountry":"IN","postalCode":"560038"}},"author":[{"@type":"Person","name":"Team YS","url":"https://yourstory.com/author/webmaster"}]}2c:T4ad,

The weekly polls aim to capture the pulse of CloudStory community on various cloud related issues. Do take this week’s poll, and we shall come back to you with the results on the coming Monday.

[cardoza_wp_poll id=2]

Take a look at last week’s poll results here.

2d:T485,For Humble Hope Foundation, community work begins with finding people who may otherwise remain outside the reach of essential services. The non-profit organisation works across child protection, healthcare, mental health, disability inclusion and livelihoods, with a focus on underserved communities in Jammu and Kashmir. Founded by Ashiq Hussain, a psychologist, along with Co-Founder and Director Rubeena Ali, the foundation works with children, women, youth, persons with disabilities, older people and vulnerable families. Its approach is built around identifying a need, connecting people with an appropriate service or government scheme, and following up to see whether the support reaches them. One of its key interventions has been child protection. Humble Hope identified 54 Children in Need of Care and Protection and facilitated their linkage with the Mission Vatsalya Sponsorship Scheme. Under the applicable sponsorship support, the children receive Rs 4,000 per month for areas including education, nutrition and healthcare. The work received an appreciation certificate from the administration through the Child Welfare Committee in Pulwama. 2e:T420,More than 50 volunteers support Humble Hope's work, from beneficiary identification and health camps to awareness programmes, documentation and follow-up. The organisation's leadership team includes Danish Ahmad Pala, Secretary and a clinical psychology professional; Dr Arshid, Manager; and Fida Mohammad Bhat, Accountant. Its programme areas now span child protection, mental health, healthcare, eye care, education, disability inclusion, youth and skills, livelihoods, drug abuse prevention, climate and environment, digital literacy and community development. The foundation's next phase is focused on moving from individual interventions towards community programmes that can be piloted, documented, measured, improved and scaled. For Humble Hope, that means measuring more than the number of people reached. The organisation's stated focus is on what changes afterwards, whether that means a child accessing protection, a patient receiving treatment, a young person gaining a livelihood or a family finding support before a problem becomes a crisis. 2f:T4b4,"UI is the new AI,” said Sridhar Vembu, Chief Scientist and Co-founder of Chennai-based technology company Zoho, referring to what he calls “ubiquitous intelligence”. Clarifying that UI in this context does not mean user interface, Vembu described “ubiquitous intelligence” as the next phase of AI, where intelligence is present everywhere, across systems, with safeguards built in. He was speaking at a press conference on the sidelines of Zoho’s annual Zoholics user conference in Chennai. Zoho aims to make this ubiquitous intelligence available to users at an "atttractive, affordable" price point, he added. One of Zoho's first products under this vision is Zia Chat, an AI interface designed to enable frictionless work. “It addresses token efficiency without breaking the bank which is a problem around the world,” said Vembu, adding that Zoho will continue to infuse more intelligence into the product. Zia Chat is designed to offer business users a seamless experience across systems, with the chat interface providing contextual depth tailored to specific industries, according to the company. “When information and workflows are spread across multiple applications, 30:T12e9,The ecosystem is bullish on valuations of fintech firms following the government’s introduction of the merchant discount rate (MDR) on UPI transactions above Rs 2000. The positive strides began with Paytm’s stock price moving up 7% on Wednesday. Investors and people aware of the sector say valuations may witness an upward trend for the next few quarters, adding that the exact effect can be determined only thereafter. “The recent introduction of UPI MDR can make established incumbent payment-led businesses inherently more profitable,” said Deepak Gupta, General Partner, WEH Ventures. He added that investors can now invest in payments as a standalone business, rather than expecting companies to make money later from selling other financial products or services to their payments customers. The government has set a 0.4% charge on UPI payments above Rs 2,000 to merchants and capped the fee at Rs 300 for payments of Rs 75,000 and above as it rolled out a framework for large digital merchant payments. According to investor and trader Meshach Manohar, who closely tracks the fintech space, the impact of MDR on valuations could be limited. “Until now, fintech companies have offered UPI transactions for free largely to collect transaction data and understand customers' buying patterns. That data could then be used for cross-selling credit and other financial products,” he said. While the new MDR could provide a small boost to the companies' revenues and profits, it is unlikely to have a major impact on their bottom line, he added. "There could be a few percentage points of improvement in profits, perhaps around 0.5% to 1%, particularly in the first two quarters.” While fintech and payment firms are largely cheering the recent development, experts caution that it is too early to understand the direction it could take. “We had taken UPI for granted, but if I am charged like a credit card, then I will stop using it. If everyone is justifying, you don’t know customer behaviour. The festive season will show what is happening, but we need to wait for two to three quarters," said Manohar. He added, “For every UPI transaction, the failure rate is 13%, so public sector banks are bleeding. We need resilience and new ways of thinking about UPI for a wider ecosystem." Experts also believe it is still premature to talk about how fintech companies such as Paytm or Razorpay will be affected since consumer behaviour is uncertain. However, brokerage firms like Jefferies and Goldman Sachs have indicated that Paytm and Pine Labs are set to benefit in big way from the move. According to Jefferies, "the industry could generate Rs 150 billion to Rs 180 billion in revenue, to be distributed across issuers, payment apps, acquirers and banks." Jefferies raised its FY28–29 earnings estimates for Paytm by 10–12%, citing potential upside from UPI MDR. The brokerage assumes an effective 40-basis-point revenue pool after accounting for exemptions and pricing pressures. It has also increased its FY27 profit forecast by 18% to reflect an initial MDR benefit. Meanwhile, Goldman Sachs sees ~40-70% potential upside to our FY28 EBITDA estimates for Paytm. “We note that some online merchants already pay a flat or cost-plus fee on payment instruments, which may reduce the incremental revenue pool for the industry, though we estimate Paytm has a relatively lower share within online merchants.” The report by Goldman Sachs also says the calculation implies about Rs 206 billion of potential revenue pool for the industry from the announced UPI MDR. Goldman Sachs has maintained a ‘Buy’ rating on Paytm with a 12-month price target of Rs 1,500, citing strong underlying earnings growth and continued market-share momentum, which it expects to support elevated valuation multiples. Emkay Global, meanwhile, estimates that Paytm could generate Rs 11.2 billion in UPI MDR revenue in FY28, assuming a conservative realised take rate of 10 basis points. It estimates the present value of these incremental earnings at Rs 434 billion, prompting it to raise its price target on Paytm to Rs 2,400 while retaining its ‘Buy’ rating. The impact will extend beyond payment companies. PhonePe, which is reportedly reviving its IPO plans, could benefit from the greater revenue visibility, while brokers such as Zerodha could face higher costs as UPI becomes chargeable for certain transactions. Jefferies estimates that of the 40 basis points MDR, around 16 bps could accrue to issuing banks, 12 bps to acquiring banks, 8 bps to the payer's TPAP (third-party application provider) or payment app, and 4 bps to the PSP (payment service provider) bank. This distribution will determine how much of the new revenue pool ultimately accrues to individual players. 22:[null,["$","script",null,{"type":"application/ld+json","dangerouslySetInnerHTML":{"__html":"$2a"}}],["$","$L2b",null,{"data":{"id":87319,"title":"Poll of the Week: Which Cloud Storage Solution do you prefer?","slug":"poll-of-the-week-which-cloud-storage-solution-do-you-prefer","publishedAt":"2012-07-23T09:26:08.000Z","updatedAt":"2019-09-05T07:29:09.493Z","type":"RICH","imported":true,"postContent":"$2c","layout":"DEFAULT","brand":{"id":2,"name":"YourStory","slug":"yourstory","locale":"en_GB","internal":true,"path":"/"},"metadata":{"authors":[{"id":"fdce4301-2d69-11e9-aa97-9329348d4c3e","user_id":null,"name":"Team YS","username":"webmaster","imageUrl":"https://images.yourstory.com/cs/static/default-ys-image.jpg","order":0,"visibility":true,"google":null,"facebook":null,"twitter":null,"linkedin":null,"website":null,"publishedStories":"0","updatedAt":"2019-02-10T19:27:36.783Z","location":null,"designation":null,"categories":null,"path":"/author/webmaster","count":"17238"}],"brandSpotlight":null,"canonicalUrl":"https://yourstory.com/2012/07/poll-of-the-week-which-cloud-storage-solution-do-you-prefer","category":{"id":58,"name":"Stories","slug":"stories","path":"/category/stories"},"facebook":{"excerpt":"The weekly polls aim to capture the pulse of CloudStory community on various cloud related issues. 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The sessions help parents and caregivers recognise behavioural and emotional changes, understand referral options and address the stigma around mental health.\nThe foundation also participates in the government's Nasha Mukt Bharat Abhiyaan, including the 100 Days Nasha Mukt Abhiyaan. Its team conducts awareness activities with students in government and private educational institutions, focusing on prevention, early intervention and informed choices.\nThe organisation combines these programmes with community activities around child rights, adolescent health, women's empowerment and environmental awareness.\n"}},{"contentType":"text","value":{"formats":{"header":2},"data":"From health camps to livelihood support\n"}},{"contentType":"text","value":{"formats":{},"data":"Healthcare remains a significant part of its grassroots work.\nHumble Hope has organised 12 eye-screening camps across Pulwama and Shopian, screening 1,589 outpatient patients. 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Zia Chat brings that information and context together, so users can find information, understand context and take action across applications through one conversational experience,\" said Vembu. \n\nThe product will also incorporate guardrails around privacy, security, authenticity, compliance and confidentiality, Zoho said. \n\nZia Chat will initially be available in English, with early access expected to open in a month. \n"}},{"contentType":"alsoRead","value":{"title":"Zoho’s Sridhar Vembu calls global tech’s push to slow AI development unfair","thumbnail":"https://images.yourstory.com/cs/2/a9efa9c02dd911e9adc52d913c55075e/Vembu1-1619060579496.jpg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2026/09/zoho-sridhar-vembu-big-tech-push-slow-ai-development-cynical"}},{"contentType":"text","value":{"formats":{},"data":"The company also announced its entry into vertical SaaS, with seven industry-specific applications designed around the regulatory, operational, and workflow requirements of specialised industries. The industries are retail, automotive, BFSI, healthcare, education, real estate, and restaurants. \n\nZoho, which marks 30 years, says it has grown across geographies. Its India revenue increased 47% year over year in 2025. The company has a presence across 150+ countries, employs more than 19,000 people worldwide, and has 150 million users across 60 applications.\n\n"}},{"contentType":"text","value":{"formats":{"italic":true},"data":"The copy was updated with additional details. "}},{"contentType":"text","value":{"formats":{},"data":"\n"}}],"timeLapsed":"23rd Sep 2026","publishedDate":"September 23, 2026","newReleased":true},{"id":54306,"title":"[YS Exclusive] Iron Pillar goes global with its strategic alliance with US-based Draper Venture Network","slug":"iron-pillar-draper-venture-network","type":"RICH","publishedAt":"2018-11-16T06:00:29.000Z","updatedAt":"2019-09-05T07:22:17.275Z","brand":{"name":"YourStory","slug":"yourstory","locale":"en_GB","path":"/"},"metadata":{"authors":[{"name":"Tenzin Pema","username":"tenzin-pema","order":0,"imageUrl":"https://images.yourstory.com/cs/users/fd6b2ee0-c6f4-11e8-af1c-974e95f3b2db/profile_image_1539758811130.jpg","designation":null,"path":"/author/tenzin-pema"}],"category":{"id":58,"name":"Stories","slug":"stories","path":"/category/stories"},"excerpt":"Iron Pillar joins Draper Venture Network in a move that will bolster the India-focused growth fund’s global network for its portfolio companies.","media":"https://images.yourstory.com/cs/wordpress/2018/11/Iron-Pillar_Team2-e1542336875320.jpg","thumbnail":"https://images.yourstory.com/cs/wordpress/2018/11/Iron-Pillar_Team2-e1542336875320.jpg","defaultThumbnail":"https://images.yourstory.com/cs/wordpress/2018/11/Iron-Pillar_Team2-e1542336875320.jpg","brandSpotlight":null,"sponsoredStory":false,"timeToRead":3,"reactions":{"contentId":54306,"commentCount":0,"likeCount":0,"dislikeCount":0,"fbShareCount":7,"twitterShareCount":0,"linkedinShareCount":0,"shareCount":7},"articleTopics":null,"richArticleTopics":null,"tags":[{"name":"Just In","slug":"just-in","order":0,"path":"/tag/just-in"},{"name":"Tim Draper","slug":"tim-draper","order":1,"path":"/tag/tim-draper"},{"name":"Draper Venture Network","slug":"draper-venture-network","order":2,"path":"/tag/draper-venture-network"},{"name":"Iron Pillar","slug":"iron-pillar","order":3,"path":"/tag/iron-pillar"},{"name":"DVN","slug":"dvn","order":4,"path":"/tag/dvn"},{"name":"Sameer Nath","slug":"sameer-nath","order":5,"path":"/tag/sameer-nath"}],"contentType":"","storySchemaType":"","parentGlossary":null,"sameParentGlossary":[],"schemaData.HowTo.StepsText":"","AIGeneratedStory":"false","storyShortHeading":"","thumbnailMetadata":{"thumbnailSquare":"","thumbnailDouble":"","thumbnailVideo":"https://images.yourstory.com/cs/wordpress/2018/11/Iron-Pillar_Team2-e1542336875320.jpg","thumbnailBlur":"data:image/png;base64,/9j/2wBDAAYEBQYFBAYGBQYHBwYIChAKCgkJChQODwwQFxQYGBcUFhYaHSUfGhsjHBYWICwgIyYnKSopGR8tMC0oMCUoKSj/2wBDAQcHBwoIChMKChMoGhYaKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCj/wAARCAAgAEADASIAAhEBAxEB/8QAFwABAQEBAAAAAAAAAAAAAAAAAwQFBv/EABYQAQEBAAAAAAAAAAAAAAAAAAIAAf/EABkBAAIDAQAAAAAAAAAAAAAAAAECAAMEBf/EABURAQEAAAAAAAAAAAAAAAAAAAAB/9oADAMBAAIRAxEAPwDExSFU2KQq7NjeozZDtPikOy1FB2Q7TnZDslBQdkOwHZTslBzmKQqmKkKtVhlJUp2lOynZKCk7Kdpjsx2SooOynac7Kdq6D//Z","thumbnailAssetAspectRatio":1.55},"webStoryUrl":"","companies":[],"glossaryTerms":[],"articleType":"","analyticsData":{"alsoReadCount":0,"imageCount":2,"videoCount":0,"companyConnectCount":0},"companyBlots":[],"videoBlots":[]},"snippets":null,"trailers":null,"path":"/2018/11/iron-pillar-draper-venture-network","featured":false,"mobilePostJson":[{"contentType":"text","value":{"formats":{"italic":true},"data":"Iron Pillar joins Draper Venture Network, which includes hallowed VC names like Draper Associates. The move will bolster the India-focused growth fund’s global network for its growing portfolio of enterprise and consumer technology companies."}},{"contentType":"text","value":{"formats":{},"data":"\nIndia-focused "}},{"contentType":"text","value":{"formats":{"link":"/2018/11/vc-focus-iron-pillar"},"data":"venture growth investor "}},{"contentType":"text","value":{"formats":{},"data":"Iron Pillar's venture capital network just got bigger.\n"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Iron Pillar announced it has joined the Draper Venture Network (DVN)"}},{"contentType":"text","value":{"formats":{},"data":", a global alliance of independent venture capital firms with $1.8 billion in collective assets, in a move that will "}},{"contentType":"text","value":{"formats":{},"data":"bolster the fund’s "}},{"contentType":"text","value":{"formats":{},"data":"global access and reach for its growing portfolio of enterprise and consumer technology companies.\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/wordpress/2018/11/rsz_iron_pillar_team.jpg?fm=png&auto=format","caption":"Iron Pillar six-member founding team: Harish Hulyalkar, Anand Prasanna, Ashok Ananthakrishnan, Sameer Nath, Mohanjit Jolly (and Ashish Shah, not in picture)"}},{"contentType":"text","value":{"formats":{},"data":"DVN, formed by legendary venture capital investor Tim Draper in 1990, is today a self-governed firm with an operations team that is dedicated to serving member funds and their portfolio companies. It brings together investors and entrepreneurs from across sectors and continents to share intelligence, source opportunities, and create greater value through cooperation.\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“We are honoured and excited to become a member of this incredible collective, and are looking to leverage as well as contribute to DVN. This alliance will give our portfolio companies an opportunity to tap into best practices across hundreds of startups and dozens of markets around the world,” said Mohanjit Jolly, one of the founding partners of Iron Pillar who had worked with Tim during his nearly decade-long experience at Draper Fisher Jurvetson (DFJ).\n"}},{"contentType":"text","value":{"formats":{},"data":"The other "}},{"contentType":"text","value":{"formats":{"link":"https://ironpillarfund.com/"},"data":"five founding partners"}},{"contentType":"text","value":{"formats":{},"data":" at Iron Pillar – Sameer Nath, Anand Prasanna, Harish Hulyalkar, Ashok Ananthakrishnan, Ashish Shah – all come with strong and complementary industry experience. DVN founder Tim Draper, who has been eyeing investment opportunities in India for almost two decades, also serves on the advisory board of Iron Pillar, which focuses on "}},{"contentType":"text","value":{"formats":{"link":"https://yourstory.com/2017/08/india-early-stage-venture-capital-funding-trend"},"data":"growth-stage startups "}},{"contentType":"text","value":{"formats":{},"data":"in the enterprise and consumer technology space.\n \n"}},{"contentType":"divider","value":{}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Also read: "}},{"contentType":"text","value":{"formats":{"bold":true,"link":"/2018/11/vc-focus-iron-pillar"},"data":"[VC Focus] Iron Pillar on charting the next phase of growth for startups and taking them global"}},{"contentType":"text","value":{"formats":{},"data":"\n"}},{"contentType":"divider","value":{}},{"contentType":"text","value":{"formats":{},"data":"“We are thrilled to bring in Iron Pillar as a member fund, another testament to our renewed commitment to India. We believe Iron Pillar’s venture growth strategy fits the needs of the maturing Indian venture market and look forward to working closely with the team and their portfolio companies going forward,” said Tim Draper, Founder of DVN.\n"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/wordpress/2018/11/Iron-Pillar-Tim-Draper1-556x556.jpg?fm=png&auto=format","caption":" Legendary investor Tim Draper"}},{"contentType":"text","value":{"formats":{"header":1},"data":"Iron Pillar's global access and reach\n"}},{"contentType":"text","value":{"formats":{},"data":"DVN, through its member funds, corporate business development relationships and connections to the technology and investing ecosystem, will provide the Iron Pillar family with wide cross-border access and reach, Sameer Nath, Managing Partner, Iron Pillar told "}},{"contentType":"text","value":{"formats":{"bold":true,"italic":true},"data":"YourStory"}},{"contentType":"text","value":{"formats":{},"data":".\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“Iron Pillar’s portfolio is well balanced across enterprise and consumer technology companies, all of whom are thinking internationally from the get-go. DVN gives Iron Pillar’s portfolio a powerful global network to leverage, for business development, domain expertise, leadership sourcing, fundraising, partnerships as well as exit opportunities,” Sameer added.\n"}},{"contentType":"text","value":{"formats":{},"data":"The DVN alliance also gives the fund a deeper understanding of international markets, which is vital to the success of startups and entrepreneurs in today’s dynamic economic environment.\nDVN member funds have funded over 600 companies and exited over 200 till date, including Skype, Baidu and Twitch. DVN principals have known Iron Pillar since its inception.\nIron Pillar recently closed its maiden fund of $90 million in October."}}],"timeLapsed":"16th Nov 2018","publishedDate":"November 16, 2018","newReleased":false},{"id":339388,"title":"Will UPI MDR be a new revenue engine for fintech firms?","slug":"will-upi-mdr-be-a-new-revenue-engine-for-fintech-firms","type":"RICH","subtitle":"A 0.4% fee on select transactions above Rs 2,000 could create a sizeable revenue pool for payment companies. While the ecosystem is bullish on the valuation of fintech firms, the exact impact on bottom line and customer behaviour remains uncertain. ","publishedAt":"2026-09-17T09:34:36.372Z","updatedAt":"2026-09-17T16:18:53.015Z","brand":{"name":"YourStory","slug":"yourstory","locale":"en_GB","path":"/"},"metadata":{"authors":[{"name":"Sanghamitra Kar","username":"sanghamitra-kar","order":0,"imageUrl":"https://images.yourstory.com/cs/wordpress/userphoto/34753.jpg","designation":null,"path":"/author/sanghamitra-kar"},{"name":"Parvathi Benu","username":"parvathi-benu","order":1,"imageUrl":"https://images.yourstory.com/cs/images/undefined/IMG20241203183052-1733290696993.jpg","designation":"Special Correspondent - Data","path":"/author/parvathi-benu"}],"category":{"id":1479,"name":"FinTech","slug":"fintech","path":"/category/fintech"},"excerpt":"A 0.4% fee on select transactions above Rs 2,000 could create a sizeable revenue pool for payment companies. While the ecosystem is bullish on the valuation of fintech firms, the exact impact on bottom line and customer behaviour remains uncertain. 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Besides allowing parents to transfer money to their children digitally, muvin helps impart financial literacy to children and teenagers.","publishedAt":"2022-08-08T01:50:00.000Z","updatedAt":"2023-04-06T11:03:59.623Z","brand":{"name":"YourStory","slug":"yourstory","locale":"en_GB","path":"/"},"metadata":{"authors":[{"name":"Aparajita Saxena","username":"aparajita","order":0,"imageUrl":"https://images.yourstory.com/cs/users/f49f8030-7d79-11ea-a66f-3b309d9a28f5/twitter/profile_image_1595274382507.jpg","designation":"Senior Associate Editor","path":"/author/aparajita"}],"category":{"id":394,"name":"Startup","slug":"ys-startup","path":"/category/ys-startup"},"excerpt":"Founded in 2020, muvin caters to kids between the ages of 10-24. Besides allowing parents to transfer money to their children digitally, muvin helps impart financial literacy to children and teenagers.","media":"https://images.yourstory.com/cs/2/f49f80307d7911eaa66f3b309d9a28f5/Image9joh-1659674448390.jpg","thumbnail":"https://images.yourstory.com/cs/2/f49f80307d7911eaa66f3b309d9a28f5/Image9joh-1659674448390.jpg","defaultThumbnail":"https://images.yourstory.com/cs/2/f49f80307d7911eaa66f3b309d9a28f5/Image9joh-1659674448390.jpg","brandSpotlight":null,"removeAds":true,"curatedCategories":[],"sponsoredStory":null,"isRegistrationRequired":false,"timeToRead":4,"reactions":{"contentId":255368,"commentCount":0,"likeCount":481,"dislikeCount":0,"fbShareCount":6,"twitterShareCount":0,"linkedinShareCount":0,"shareCount":6},"articleTopics":[],"richArticleTopics":[{"id":"991ea521-663e-11eb-b571-b76e0f3e580d","slug":"discover-new-startups","name":"Discover New Startups","type":"RICH-ARTICLE-TOPIC","order":0}],"tags":[{"name":"Fintech","slug":"fintech-","order":0,"path":"/tag/fintech-"},{"name":"fintech for kids","slug":"fintech-for-kids","order":1,"path":"/tag/fintech-for-kids"},{"name":"teens","slug":"teens","order":2,"path":"/tag/teens"},{"name":"neobanking startups","slug":"neobanking-startups","order":3,"path":"/tag/neobanking-startups"},{"name":"NeoBank","slug":"neobank","order":4,"path":"/tag/neobank"},{"name":"Bengaluru fintech startups","slug":"bengaluru-fintech-startups","order":5,"path":"/tag/bengaluru-fintech-startups"},{"name":"Financial technology","slug":"financial-technology","order":6,"path":"/tag/financial-technology"},{"name":"Just In","slug":"just-in","order":7,"path":"/tag/just-in"}],"contentType":"","storySchemaType":"article story","parentGlossary":null,"sameParentGlossary":[],"schemaData.HowTo.StepsText":"","AIGeneratedStory":"false","storyShortHeading":"","thumbnailMetadata":{"thumbnailSquare":"","thumbnailDouble":"https://images.yourstory.com/cs/2/f49f80307d7911eaa66f3b309d9a28f5/Image9joh-1659674448390.jpg","thumbnailVideo":"","thumbnailBlur":"data:image/png;base64,/9j/2wBDAAYEBQYFBAYGBQYHBwYIChAKCgkJChQODwwQFxQYGBcUFhYaHSUfGhsjHBYWICwgIyYnKSopGR8tMC0oMCUoKSj/2wBDAQcHBwoIChMKChMoGhYaKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCgoKCj/wAARCAAgAEADASIAAhEBAxEB/8QAFwABAQEBAAAAAAAAAAAAAAAAAwQFBv/EABYQAQEBAAAAAAAAAAAAAAAAAAIAAf/EABkBAAIDAQAAAAAAAAAAAAAAAAECAAMEBf/EABURAQEAAAAAAAAAAAAAAAAAAAAB/9oADAMBAAIRAxEAPwDExSFU2KQq7NjeozZDtPikOy1FB2Q7TnZDslBQdkOwHZTslBzmKQqmKkKtVhlJUp2lOynZKCk7Kdpjsx2SooOynac7Kdq6D//Z","thumbnailAssetAspectRatio":2},"webStoryUrl":"","companies":[{"id":"97e43a20-76ce-11ec-a94f-c988aa1d6560","name":"muvin","legalName":"FinOne Technologies Pvt Ltd","slug":"muvin","subtitle":"muvin is a neobank providing Indian teenagers with a powerful online payment app which helps them make payments, keep track of their transactions for better budgeting and help them learn the art of money management. 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New companies are coming up every month to cater to this previously untapped target market, and the nucleus of their genesis seems to be singular: financial inclusion.\n\nWhile many fintech companies are catering to the adult population, as well as geographically marginalised sections of India, there are very few avenues for teenagers to explore finance. Before the proliferation of teen-focussed financial platforms, most of the exposure teens had to finance was via banks that allowed them to open bank accounts run mostly by parents, or physical currency.\n\n"}},{"contentType":"companyConnect","value":{"id":"97e43a20-76ce-11ec-a94f-c988aa1d6560","slug":"muvin","name":"muvin"}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Vineet Gupta"}},{"contentType":"text","value":{"formats":{},"data":" and "}},{"contentType":"text","value":{"formats":{"bold":true},"data":"Mukund Rao"}},{"contentType":"text","value":{"formats":{},"data":", who both have teenage children, grappled with the existing system.\n\n“Our children’s minor bank accounts, through which we were giving them pocket money, had multiple challenges—from opening to enabling our children to use it freely, given the restrictions on bank ATM or debit cards,” Vineet tells "}},{"contentType":"text","value":{"formats":{"bold":true,"italic":true},"data":"YourStory"}},{"contentType":"text","value":{"formats":{},"data":".\n\nWhen the duo assessed the on-ground situation, they realised that while the addressable market (TAM) was large, there were only a handful of platforms available that catered to teens.\nThey set up "}},{"contentType":"companyWidget","value":{"id":"97e43a20-76ce-11ec-a94f-c988aa1d6560","name":"muvin","slug":"muvin","logo":{"height":300,"width":300,"imageKey":"cs/images/companies/download471-1642339022438.jpg","url":"https://images.yourstory.com/cs/images/companies/download471-1642339022438.jpg"},"subtitle":"muvin is a neobank providing Indian teenagers with a powerful online payment app which helps them make payments, keep track of their transactions for better budgeting and help them learn the art of money management. ","foundingDate":"2020-10-18","companyURL":"https://yourstory.com/companies/muvin","companyCoreTeam":[{"name":"Vineet Gupta"},{"name":"Mukund V Rao"}],"sectors":[{"name":"Financial Services","slug":"financial-services"}]}},{"contentType":"text","value":{}},{"contentType":"blockquote","value":{"formats":{},"data":", a teen-focussed pocket money app for college students and teenagers, that aims to make students financially savvy, teach them money management skills, and remove the complexities from “finance”."}},{"contentType":"text","value":{"formats":{},"data":"“muvin’s vision is to improve financial literacy across the 200 million youth in India while empowering them with financial products suited to their needs,” says Mukund.\n\nThe startup raised $3 million in a pre-Series A round led by WaterBridge Ventures in January this year, after raising a seed round of $1.5 million-plus from HNIs in the country.\n\nWhile the youth-focussed fintech space hasn’t been fully valued yet because it’s still in its infancy and in the process of shaping up, the sub-sector has disrupted fintechs in India, capturing a market that very few cater to. The Indian fintech sector is expected to touch the $150-160 billion market size by 2025, according to a report by MAAS.\n"}},{"contentType":"companyConnect","value":{"id":"97e43a20-76ce-11ec-a94f-c988aa1d6560","slug":"muvin","name":"muvin"}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/f49f80307d7911eaa66f3b309d9a28f5/2022-featuredimages23-1659674067208.png"}},{"contentType":"alsoRead","value":{"title":"Fintech startup Slice abandons credit lines, moves to term loans with new 'feature'","thumbnail":"https://images.yourstory.com/cs/2/bc14afb0357911eca2270b39b804102d/Sliceimage-1638167560191.jpg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/07/fintech-card-pay-later-startup-slice-term-loans-credit-line-bnpl-comply-rbi"}},{"contentType":"text","value":{"formats":{"header":2},"data":"What it does\n"}},{"contentType":"text","value":{"formats":{},"data":"Bengaluru-based muvin is a downloadable app that can be used by both parents and children. Parents have to download the app, create profiles for their children, and then give them access to it.\n\nParents can use the app to transfer pocket money, set tasks, and pay upon completion of each task, and can also track their children’s spending.\n\nTeens using the app, on the other hand, can spend money offline and online via a physical and virtual debit card. UPI and QR-based payments are available for those who do a full KYC. Users can also create savings goals for wishlist items and put money towards them every month.\n\nThe startup, like most in its sector, including "}},{"contentType":"companyConnect","value":{"id":"97e43a20-76ce-11ec-a94f-c988aa1d6560","slug":"muvin","name":"muvin"}},{"contentType":"companyWidget","value":{"id":"0d6ee510-8e0a-11ea-ae47-9593289ac6d0","name":"FamPay","slug":"fampay","logo":{"height":1226,"width":1226,"imageKey":"cs/images/companies/fampayLogo-1634713756429.png","url":"https://images.yourstory.com/cs/images/companies/fampayLogo-1634713756429.png"},"subtitle":"FamPay is a neobank for teenagers.","foundingDate":"2020-03-05","companyURL":"https://yourstory.com/companies/fampay","companyCoreTeam":[{"name":"Sambhav Jain"},{"name":"Kush Taneja"}],"sectors":[{"name":"Financial Services","slug":"financial-services"},{"name":"FinTech","slug":"fintech"}]}},{"contentType":"text","value":{"formats":{},"data":"and "}},{"contentType":"companyWidget","value":{"id":"bedf7400-4b68-11ec-a2bc-d30e16d3f80d","name":"Junio","slug":"junio","logo":{"height":512,"width":512,"imageKey":"cs/images/companies/Junio-1637567421161.png","url":"https://images.yourstory.com/cs/images/companies/Junio-1637567421161.png"},"subtitle":"Junio is a smart card for children’s online and offline expenses.","foundingDate":"2020-01-01","companyURL":"https://yourstory.com/companies/junio","companyCoreTeam":[{"name":"Shankar Nath"},{"name":"Ankit Gera"}],"sectors":[{"name":"Financial Services","slug":"financial-services"}]}},{"contentType":"text","value":{"data":", provides educational bite-sized videos and written content to teach teens and children about finance and practices associated with managing money, like saving, investing, and taxes.\n\nVineet says that while muvin’s target audience is the 10-24 age group, anyone can use the platform.\n"}},{"contentType":"blockquote","value":{"formats":{},"data":"“We believe that the educational content we offer is relevant not just for our immediate target audience, but for anyone looking to kick start their journey in understanding basic finance,” he says."}},{"contentType":"image","value":{"src":"https://images.yourstory.com/cs/2/f49f80307d7911eaa66f3b309d9a28f5/shutterstock1980115799-1658644477907.png"}},{"contentType":"alsoRead","value":{"title":"The new BNPL: How will the business change post RBI crackdown?","thumbnail":"https://images.yourstory.com/cs/2/f49f80307d7911eaa66f3b309d9a28f5/Image9ib7-1658643489431.jpg?fm=png&auto=format&h=100&w=100&crop=entropy&fit=crop","publishedUrl":"https://yourstory.com/2022/07/new-bnpl-change-rbi-ppi-guidelines-startups"}},{"contentType":"text","value":{"formats":{"header":2},"data":"Business model\n"}},{"contentType":"text","value":{"formats":{},"data":"The startup does not currently charge users anything for accessing the platform; instead, it makes money from the interchange fees incurred by merchants for card transactions.\n\nFampay, arguably the biggest player in the space right now, has an ecommerce platform geared towards its target market—i.e., kids—which is also a revenue source for the startup, apart from interchange fees.\n\nIn terms of revenue, Mukund says, “We are meeting the planned numbers,” but did not further disclose the exact tallies. He added the app currently has three lakh installs, with 80,000 active wallets that have done their KYC.\n\nIn total, the app has 50,000 users. Fampay has crossed a million users, while Junio has over around half a million.\n\nThe startup says it is aiming to expand to one million users in the next 12 months and might raise additional capital this year to achieve scale.\n"}},{"contentType":"companyConnect","value":{"id":"97e43a20-76ce-11ec-a94f-c988aa1d6560","slug":"muvin","name":"muvin"}},{"contentType":"companyConnect","value":{"id":"97e43a20-76ce-11ec-a94f-c988aa1d6560","slug":"muvin","name":"muvin"}}],"timeLapsed":"8th Aug 2022","publishedDate":"August 08, 2022","newReleased":false,"editorsPickTitle":"Fintech startup muvin helps children, young adults gain financial freedom","editorsPickSubtitle":"Founded in 2020, muvin, besides allowing parents to transfer money to their children digitally, also helps impart financial literacy to children and teenagers.","editorsPickStartTime":"2022-08-08T03:30:00.000Z","editorsPickEndTime":"2022-08-08T06:30:00.000Z"}]},"brand":"yourstory","websiteTakeover":false}]]