New-age fintech: A child’s play?

Money — easy to spend, hard to earn, harder to save, and even harder to grow. How many of us have often lamented about how easy life would have been if we knew how to save and invest money growing up?

More interesting than knowing “mitochondria is the powerhouse of the cell”, for sure! 

Well, turns out that fintechs nowadays are stepping in to educate children about digital financial tools. New-age neo-banks and fintech apps, specifically targeting children below the age of 18 years, are not only helping kids track their pocket money and expenditures, but are also teaching them important financial skills, such as saving and compound interest rates.

With children under the age of 18 constituting nearly 41 percent of India’s total population, this new and large market contains untapped potential, and is fast becoming a critical focus area for the ecosystem.

The Interview

COVID-19 changed travel as we knew it. As governments imposed travel restrictions to curb the spread of the virus, the travel and hospitality industries came to an abrupt halt. In a recent conversation with YourStory, Ritu Mehrotra, Regional Manager - South Asia, Booking.com, says, “The travel industry was the first one to be hit by the pandemic, and probably will be the last one to recover.”

Editor’s Pick: Product Roadmap

Capital Float is solving lending needs of SMEs with its in-house technology

Noticing a lending gap, Sashank Rishyasringa and Gaurav Hinduja observed that SME and MSME sellers found it difficult to procure loans. So, they decided to bridge the gap using technology and in 2013, founded Capital Float, an RBI-registered NBFC that offers loans such as term finance, working capital, point-of-sale financing, etc, based on cash flows, expected receivables, financials, and bank statements. Till date, it has disbursed loans over Rs 8,000 crore across 314 cities. Read more.

Startup Spotlight

Delhi-based startup Zipaworld integrates logistics processes using tech and reduces the supply chain cost

One of the most critical areas of operations that was highlighted during the pandemic was logistics and transportation. However, logistics can be a complex business, especially in remote and rural areas that lack access. To solve for that, Zipaworld, a logistics e-mall service provider, aggregates the complete logistics process including cargo query management, price comparisons, e-booking, freight forwarding, transportation, customs clearance, automated documentation and online payment gateways. Read more.

News & Updates

• Fitness startup Cure.fit will acquire Bengaluru-based fitness aggregator platform, Fitternity. While the details of the deal remain undisclosed, Fitternity will continue to operate independently post the acquisition and Cure.fit will scale its Cult Pass product.

• Nothing has raised $15 million in a Series A round led by GV (formerly Google Ventures). With the new funding, the company plans to expand its team and operations, further invest in R&D, as well as launch its community and first products in the coming months.

• Twitter is seeking formal dialogue with the Information Technology Ministry after the government ordered it to take down 1,178 accounts for allegedly spreading misinformation around farmers' protests. The microblogging platform also noted that the safety of its employees is a top priority.

• In an order concerning Future Retail Ltd (FRL), the Delhi High Court has ruled that statutory authorities cannot be restrained from acting in accordance with the law and stayed a previous order on the status quo of its Rs 24,713 crore deal with Reliance.

• The government will soon bring a bill on crypto currencies, as existing laws are inadequate to deal with issues concerning them, Minister of State For Finance, Anurag Thakur, told Rajya Sabha on Tuesday.

Before you go, stay inspired with… 

"A lot of times, things happen on their own. Bet on people, allow them to rise up to the occasion."

— Ashish Shah, Co-founder, Pepperfry

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