The growth in the total number of UPI transactions has hit a plateau, standing at 674.19 million in February. As compared to the 672.75 million transactions registered in January, the figures hardly reflected any increase. This comes from the National Payments Corporation of India (NPCI), whose findings suggested that this is one of the lowest growth rates for UPI since July 2018, when transactions fell by 4.3 percent, compared to June.
India is now world's second biggest fintech hub: Report
With 2,035 startups operating in the fintech sector, India has emerged as the world's second-biggest fintech hub, just behind the US. This is as per the India Fintech Report 2019, unveiled recently at Fintegrate Zone 2019 - India's largest fintech conclave supported by Paisabazaar.com, and Government of Maharashtra. As it turns out, 42 percent of these 2,000+ startups in India are located in Mumbai and Bengaluru.
Jai Kisan raises $1.5 million from Blume Ventures
Fintech platform Jai Kisan has raised $1.5 million seed funding led by Blume Ventures, Prophetic Ventures, Harshbeena Zaveri (NRB Bearings), Better Capital, Astarc Ventures, Sanjay Mariwala of OmniActive, and other strategic HNIs. Moving ahead, the Mumbai-based startup will use the funds to increase its loan book size, expand operations across different states, partner with more lending institutions, and focus on customer acquisition.
This startup transforms you from professional to party mode
Gurugram-based fashion ecommerce startup PostFold is all about affordable casual workwear. Started in November 2015 by Ashish Gurnani and Aashray Thatai, who studied together in Northeastern University, Boston, the company basically brings the ease of going ‘from desk to dinner’ with its trendy workwear range for both men and women. And the team is already chasing the big numbers, doing over 5,000 orders in a month, with close to 200 orders a day.
Adda52 lets users play poker online for real money
Traditionally, card games such as poker, rummy, teen patti (three-card poker) have been a part of Indian social gatherings. Now, Delhi-based startup Adda52.com, founded by IIT Delhi graduates Mohit Agarwal and Anuj Gupta, is turning this Indian pastime into a serious business. The startup merged with Delta Corp, India's largest casino, in 2017. Since the merger with the casino group, Adda52 has been using the omnichannel model to scale the game in India.