Startup news and updates: daily roundup (February 10, 2023)

OYO plans to double premium hotel portfolio in Indonesia

Hospitality company Oyo has planned to double its premium segment hotel count in Indonesia in 2023, which consists of hotel brands such as Townhouse Oak and Collection O that meet premium hotel criteria of design, service quality, and high level of safety and health standards. 

These hotels are equipped with key amenities, including bigger room sizes, swimming pools, restaurants, and in-room facilities like hair dryers and mini-fridges, etc., making them popular among tourists looking for comfortable stays. 

“Indonesia is one of the most mature markets for OYO in terms of scale and unit economics. Our focus on expanding the premium hotel portfolio is in line with the government's plans to strengthen the hotel industry to meet the requirements of the growing number of inbound and corporate tourists looking for well-priced mid-segment and premium hotels,” Ankit Tandon, Global CBO and CEO - Southeast Asia and Middle East, OYO, said.

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InCred enters EWA market; launches InCred Pronto

NBFC InCred Financial Services Ltd has launched InCred Pronto to broaden its consumer finance suite. It has also entered the Earned Wage Access (EWA) market through the acquisition of an EWA tech platform. 

InCred Pronto offers value for money and data protection, embedded within a 100% digital in-app experience. It is already live with employers in IT, manufacturing, and retail. Dozens of other employers and HR system partners are in the process of integrating the product into their platforms.

Prithvi Chandrasekhar, CEO of Consumer Finance at InCred, will lead the EWA business.

Commenting on the launch of InCred Pronto, he said, “We’re proud to be launching a product that meets one of the common man’s most pressing financial needs. We look forward to serving millions of Indian households with InCred Pronto.”

Wiggles elevates Prashant Kohli to CMO, Pushkaraj Vartak to CFO 

Pet care brand Wiggles.in has made key leadership changes, elevating Prashant Kohli to the position of Chief Marketing Officer (CMO) and Pushkaraj Vartak as the Chief Financial Officer (CFO).

Prashant joined Wiggles as Vice President of Brand Strategy in 2022. In his new role as the CMO, he will lead the company’s overall marketing initiatives and drive consumer engagement. 

He brings over 13 years of experience to Wiggles, with a skill set spanning brand and customer experience, community building, integrated media communications, and design thinking. He has also helped brands like Apple, LinkedIn, HUL, Facebook, Netflix, Disney+ Hotstar, and Uber, among others in solving a variety of business challenges. 

Pushkaraj joined Wiggles as Vice President of Accounts and Finance in 2022 and has been instrumental in driving financial performance. He will lead the financial strategy and oversee the financial operations of the company.

He has over two decades of experience in finance across sectors, including Mumbai-based infra, FMCG, and media industries, with expertise and specialisations, including FP&A, treasury management, taxation, etc.