Volt Money Joins Hands With PhonePe, Netflix Teams Up With Vi, RBI Issues Guidelines For SROs and a lot more!

Volt Money joins forces with PhonePe to offer loans against mutual funds, while US Payments Giant Stripe goes invite-only. Netflix teams up with Vi to bundle subscriptions with prepaid plans, and RBI issues final guidelines for fintech SROs. Plus, Jio Financial Services unveils the beta version of 'JioFinance' app, making waves in digital banking.

Grab your simmering cup of StartupChai and unwind with our hand-brewed memes.

What Matters

“Janmo Ke Saathi”: Volt Money Partners with PhonePe To Offer Loans Against Mutual Funds

Volt Money has teamed up with PhonePe to provide loans against mutual funds, a significant development for both companies. By integrating its loan services into the PhonePe app, Volt Money will offer credits ranging from INR 25,000 to INR 5 crore.

Coinciding with PhonePe’s launch of secured lending products with various financial partners, this partnership marks a strategic step forward in the fintech landscape.

Read more here

“Dilchasp Suspense”: US Payments Giant Stripe Goes Invite-Only In India

US payments giant Stripe is going invite-only in India, sparking curiosity and speculation. The company, without much explanation, mentioned it’s working to bolster its infrastructure to support more users by late 2025.

Citing India's evolving regulatory landscape, Stripe admitted it couldn’t guarantee smooth onboarding for all new users just yet.

Read more here

“Ab Aayega Maza”: Now, Netflix Partners Vi To Bundle Subscription With Prepaid Plan

Netflix has teamed up with Vi to bundle its subscription with Vi's prepaid plans, offering a new treat for entertainment lovers.

Currently, three prepaid tariff plans include Netflix, with plans to extend this to postpaid customers soon. This marks Netflix’s second partnership with an Indian telco, following its collaboration with Jio. It’s an exciting move, promising seamless streaming for Vi users across the country.

Read more here

“Waqt Rehte Sudhar Jaao”: RBI Notifies Final Guidelines For Recognition Of Fintech SROS

The RBI has released its final guidelines for recognizing fintech SROs, setting the stage for more regulated and standardized industry practices. The SROs are tasked with creating a code of conduct for members and establishing robust regulatory standards.

Additionally, they must keep the RBI updated on sector developments, consult on taxonomy updates, and fulfill assignments from the regulator.

Read more here

“Jio Dhan Dhanadhan”: Jio Financial Services launches 'JioFinance' app in beta version

Jio Financial Services Ltd has rolled out the JioFinance app in its beta version, marking a significant step in digital banking. This new app aims to revolutionize daily financial management with an intuitive and user-friendly interface.

Currently in its trial phase, JioFinance promises to streamline personal finance for users.

Read more here

1. Yatra slipped into the red in FY24, posting a loss of INR 4.5 Cr. Despite a 37% decline in Q4 net profit and a 10% dip in Q4 revenue, the company expanded its corporate client base, adding 25 new accounts.

   Read more here

2. Pune-based DroneAcharya Aerial Innovations doubled its net profit to INR 6.2 Cr in FY24, up from INR 3.42 Cr the previous year. This significant growth highlights the company's rising success in the drone industry.

   Read more here

3. Turno, a commercial EV financing startup, secured $6 million from British International Investment and venture capital firms Quona Capital, Stellaris Venture Partners, and B Capital. This funding boost aims to accelerate Turno's growth in the electric vehicle sector.

   Read more here

4. TechEagle, an on-demand drone delivery and logistics firm, has raised capital in a bridge round from Paytm founder Vijay Shekhar Sharma, Navam Capital, and Inflection Point Ventures. This follows their $500K seed funding round led by India Accelerator in 2021.

   Read more here

5. Travel tech startup Atlys, backed by investors like Andreessen Horowitz and Elevation Capital, is in discussions with Peak XV Partners and other potential investors to secure $15-18 million in its Series B funding round. This move aims to fuel the expansion of its visa processing services.

   Read more here

6. IndiaMART InterMESH has acquired a 10% stake in IDfy, a fraud detection startup, for INR 90 crore, purchasing shares from existing investors. IDfy, established in 2011, specializes in KYC, background verification, risk mitigation, digital onboarding, and digital privacy solutions.

   Read more here

7. Logistiex, a modern ecommerce startup, has secured $250,000 in a bridge funding round led by PACE Family Office, with participation from notable angel investor Siddhant Khemka. The funding will fuel Logistiex's product development efforts and facilitate the expansion of its tech team.

   Read more here

8. TechnoSport has secured $25 million from A91 Partners to bolster its sports apparel portfolio, with plans to enhance manufacturing capabilities, digital brand building, marketing activities, and expand sales and distribution channels to reach a broader audience.

   Read more here

9. Infra.Market has secured $20 million through a stake sale in its subsidiary RDC Concrete, led by investors such as Nikhil Kamath, Capri Global Family Office, Sumeet Kanwar from Verity, and Abhijeet Pai-led Wear Steels.

   Read more here