Zomato Dives Into Entertainment Sector, PayU and Amazon Pay Later Collab, Delhi NCR’s Auto And Taxi Drivers Rebel Against Ola, Uber and more

Zomato is diving into the entertainment sector by acquiring Paytm’s ticketing business for ₹2,048 crore, while PayU and Amazon Pay Later are teaming up to bring instant digital credit to Indian shoppers. Inflection Point Ventures is cashing out with a 33% IRR on FASHOR, and ONDC is speeding up fintech with a new 6-minute loan service.

PhysicsWallah is scaling up with a new School of Startups and a ₹100 crore fund, while PhonePe introduces UPI-based short-term credit for merchants. Meanwhile, Delhi NCR's auto and taxi drivers are striking against Ola and Uber, and INDmoney is making waves with UPI-based instant withdrawals for traders.

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What Matters

“Ek Aur Ek Gyarah”: Zomato to buy Paytm's entertainment and ticketing business for Rs 2,048 crore

Zomato's latest move to acquire Paytm's entertainment and ticketing business for ₹2,048 crore is a bold step into the 'going-out' segment. As Zomato gears up to launch its new app, 'District,' users can expect a smooth transition from Paytm, with incentives sweetening the deal.

Meanwhile, Paytm is refocusing on its core financial services, leaving the night outs to Zomato.

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“Waah, Kya Scene Hai”: PayU Partners Amazon Pay Later To Offer Instant Digital Credit To Indian Shoppers

PayU is teaming up with Amazon Pay Later to offer instant digital credit at checkout, making it easier for Indian shoppers to access flexible payment options. This partnership not only enhances the shopping experience but also aims to boost merchant business outcomes.

It’s a strategic move following PayU India's solid 11% revenue growth and its recent RBI approval to operate as a payment aggregator.

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“Style Mein Rehne Ka”: Inflection Point Ventures Exits FASHOR With 33% IRR

Inflection Point Ventures has scored a stylish exit from FASHOR, boasting a 33% IRR and a 3.75X return on investment in just 54 months. This marks their 45th exit, adding to an impressive track record with an average IRR of 128%.

The exit comes hot on the heels of FASHOR’s $5 million funding round led by Blume Ventures.

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“Mushkil Waqt, Commando Sakht”: ONDC Bolsters Fintech Play With Launch Of 6-Minute Loan Service

ONDC is stepping up its fintech game by launching a 6-minute loan service across platforms like Easypay and Paisabazaar. Users can now secure fully digital, paperless loans in a flash, with more providers like Mobikwik joining the party soon.

Plus, GST invoice financing loans are on the horizon, set to debut by September 2024.

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“Naya Yug, Nayi Niti”: PhysicsWallah Rolls Out School of Startups, Sets Up INR 100 Cr Fund To Back Startups

PhysicsWallah is venturing beyond education with the launch of its School of Startups, backed by a ₹100 crore fund. This new initiative will offer budding entrepreneurs tailored programs—Aarambh, Prarambh, and Hopes Alive—covering everything from ideation to capital raising.

Co-founded by Alakh Pandey, PW’s journey from edtech to startup incubator shows their commitment to fueling India’s entrepreneurial spirit.

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“Ab Hai Kraanti Ki Baari”: PhonePe Launches Credit Line On UPI, Offering Short-Term Credit For Merchant Payments

PhonePe is shaking up the payment scene by launching a Credit Line on UPI, offering short-term credit for merchant payments. This new feature gives merchants on the PhonePe Payment Gateway a fresh way to enhance customer checkout experiences.

With UPI transactions hitting 14.44 billion in July, this move could further fuel the digital payment surge.

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“Sadda Haq, Aithe Rakh”: Delhi NCR Auto & Taxi Drivers Launch Two-Day Strike Against Ola, Uber

Delhi NCR's streets are quieter as auto and taxi drivers from 15 unions kick off a two-day strike against Ola and Uber. Frustrated by the dominance of app-based cab services, these traditional drivers are demanding fair play, citing dwindling income and customers.

This protest is part of a long-standing battle, with similar strikes dating back to 2016.

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“Janhit Mein Jaari”: INDmoney launches UPI-based instant withdrawals for traders

INDmoney just made life easier for Indian stock traders with the launch of UPI-based instant withdrawals.

Now, traders can access up to ₹1 lakh in their savings accounts on the same day, even while trading. This feature is a game-changer, speeding up a process that usually takes over 24 hours.

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1. InvestorAi has secured ₹80 crore in Series A funding to enhance its AI-driven investment solutions for retail investors. With this boost, the Bengaluru-based startup is set to scale its operations and innovate new AI products.

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2. Bluestone has raised ₹900 crore in pre-IPO funding from Peak XV, Prosus, and others, with ₹600 crore in primary capital infusion. The jewellery retailer is gearing up to file for its IPO later this year.

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3. Opkey, an AI-driven ERP testing platform, has secured $47 million in a Series B round led by PeakSpan Capital. With over 200 enterprise customers and strong partnerships, this funding marks a significant leap for the Dublin-based startup.

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4. Efficient Capital Labs has raised $11 million in Series A funding, co-led by QED Investors and 645 Ventures. The capital will support its expansion into Singapore and Southeast Asia, building on a strong track record in the US and India.

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5. Ice cream brand Hangyo has secured $25 million from Faering Capital, marking one of the largest funding rounds for an ice cream company in India. The investment will boost production, accelerate product development, and expand its footprint in South India.

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6. B2B sales startup Revrag has raised $600K in a pre-Seed round led by Powerhouse Ventures, with notable investors including Kunal Shah and Viral Bajaria. The funding will support Revrag's early-stage growth and development.

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