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Oyo Rooms plans to tap venture debt route for fresh funding

  • Hospitality startup Oyo Rooms (Oravel Stays Pvt. Ltd) plans to tap the venture debt route to raise fresh funds as it seeks to double down on its Townhouse property vertical in India this year.
  • The company, which recently raised $1 billion in equity , is in talks with several venture debt firms and some of the top private banks to raise several hundred crores in debt financing, said three people familiar with the matter.
  • The idea is to use the funds to buy properties for Oyo Townhouse, as the company looks to deploy its recently-raised equity for overseas expansion , they said.
  • Townhouse properties, owned and fully managed by Oyo, have played a key role in improving the startup’s image with customers.

Read full article: livemint.com

Payment Firm mSwipe Raises $31 Mn from Falcon Edge, B Capital Asia, Epiq Capital and DSG Consumer Partners

  • According to the filings, B Capital Asia invested close to Rs 69.99 crore, followed by DSG Consumer Partners, who invested Rs 20.91 crore.
  • Founded in 2011 by Manish Patel, mSwipe is an independent mobile Point-of-Sale (POS) merchant acquirer and network provider that allows small and medium-sized enterprises to enable card-based payments through their mobile devices.
  • Unlike other traditional PoS-deploying entities such as Pine Labs and Worldline, Mswipe onboards its own merchants and deploys mobile PoS terminals which are primarily aimed at bringing small merchants within the fold of digital payments.

Read full article: indianweb2.com

PayNearby Has Covered 16,722 Pin Codes In India Distributing Their Services Through 4 Lakh Retailers

  • The problem of cash availability and convenience of digital payments, enabled many consumers to start ordering to online / eCom players, thereby damaging the business flows of the mom-and-pop kirana shops.
  • JAM trinity, the India stack is powerful and work being done by NPCI under the leadership team is an assurance of India transitioning from Krishi Pradhan Nation into Digital Pradhan nation.
  • PayNearby App enables most of the financial services for most of the people with simple to use, assisted digital service platform.
  • The system of records with easy-to-integrate architecture and APIs is serving as a go to market strategy for many partners like Insurance, NBFC, Micro Finance, FMCG companies.

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This agritech startup uses data science to improve crop yields; raises $27 million

  • AgroStar currently has more than 5 lakh farmers on its platform spread across Gujarat, Maharashtra, and Rajasthan.
  • With the latest round of funding, AgroStar is planning to expand its digital presence in India to digitize farms on the back of smartphone penetration in rural areas and data becoming more affordable, the company said in a statement.
  • 2016  across supply chain, infrastructure development, finance and related solutions, farm data analytics and information platforms

Read full article: financialexpress.com

Naspers eyes fintech deals in $1 billion India push

  • Naspers Ltd wants to spend about $1 billion in India this year as it scours the globe for investments that can replicate its blockbuster bet on China’s Tencent Holdings Ltd, a person familiar with the matter said.
  • Africa’s largest company by market value is in talks to inject about $200 million into business loan provider Capital Float and payments security firm Wimbo as a first step, according to two people with knowledge of the discussions, who asked not to be identified as the talks are private.
  • Part of this year’s $1 billion Indian investment drive could see Naspers increase its presence in food delivery, one of the people said.

Read full article: livemint.com

Smartphone App-based Startup Branch Set To Operate In India

  • San Francisco-based startup Branch International, a mobile app-based lender with operations in Africa and Latin America, launched in India this month.
  • Branch offers customers personal loans from Rs 500 to Rs 50,000 through its Android app and is one of the first recipients of the Reserve Bank of India’s (RBI’s) mobile-only Non-Banking Financial Company (NBFC) license in India.
  • By relying solely on the data from a user’s mobile device, Branch is able to tap into an underserved market, including those who are self-employed or part of the informal sector, yet very creditworthy.
  • ” said Matt Flannery, Co-Founder and CEO of Branch International and Co-Founder of Kiva.

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BJP trying to create ‘hyper nationalistic environment’ ahead of LS polls: Rahul – India Post

  • Congress president Rahul Gandhi has accused the BJP of trying to create a ‘hyper nationalistic environment’ ahead of the Lok Sabha polls only to distract people from the issues of unemployment, agrarian crisis and what he called ‘massive failures’ of the Modi government.
  • Describing the upcoming elections as all about making a choice between India of Mahatma Gandhi and that of his assassin Nathuram Godse, Rahul Gandhi also alleged Prime Minister Narendra Modi generates ‘hate’ and that his brand of politics was ‘hateful’ with consequent costs.
  • Stating that the job situation and agriculture are in tremendous crisis, Gandhi said one can’t have a country that is divided, which is full of hate, and get the levels of economic growth that the country requires to generate a huge number of jobs.
  • To a question on the Congress’ promise of minimum income guarantee being touted as a game changer, Gandhi said he does not think that this alone has the power to transform the country, but under the current circumstances and the level of pain India is feeling, it is a requirement.
  • Admitting that the previous UPA government was unable to do enough to resolve the job crisis, Gandhi said what Modi has done is to aggravate the situation by introducing demonetisation and the GST and allowing industrialist Anil Ambani style ‘crony capitalism’ to run rampant.

Read full article: indiapost.com

BJP trying to create ‘hyper nationalistic environment’ ahead of Lok Sabha polls: Rahul Gandhi | HW English

  • Congress president Rahul Gandhi has accused the BJP of trying to create a ‘hyper nationalistic environment’ ahead of the Lok Sabha polls only to distract people from the issues of unemployment, agrarian crisis and what he called ‘massive failures’ of the Modi government.
  • Describing the upcoming elections as all about making a choice between India of Mahatma Gandhi and that of his assassin Nathuram Godse, Rahul Gandhi also alleged Prime Minister Narendra Modi generates ‘hate’ and that his brand of politics was ‘hateful’ with consequent costs.
  • The hyper nationalistic environment the BJP is trying to create, where anyone who disagrees with the BJP is branded anti-national, is only to distract from the issues of unemployment, agrarian crisis, violence and the massive failures of the government on practically every front,” Gandhi told ‘The Week’ magazine in an exclusive interview on Wednesday.
  • The BJP has criticised opposition parties for demanding evidence for the impact of the airstrikes on the camp of the Jaish-e-Mohammed (JeM) while its president Amit Shah said the IAF’s operation showed that India is “secure under the strong and decisive leadership” of Modi.
  • Admitting that the previous UPA government was unable to do enough to resolve the job crisis, Gandhi said what Modi has done is to aggravate the situation by introducing demonetisation and the GST and allowing industrialist Anil Ambani style ‘crony capitalism’ to run rampant.

Read full article: hwnews.in

A Closer Look At The Latest Cohort of AI/ML Startups That Made It To Google’s Launchpad Accelerator

  • They offer multiple products in the healthcare sector, such as ground truth solutions with NoSQL frameworks and a personalized patient care product that used machine learning for patient care and engagement for predictive healthcare.
  • Perceptivi is a startup that provides AI based solutions for risk management in the financial sector.
  • The company uses AI to create a personalized financial plan for their customers, with the users choosing the amount that they wish to save.
  • The are focused on providing micro-loans to this sector of individuals, with their mobile app being able to assess the risk profile of  a buyer while they are applying.
  • The company provides a service that checks if a user’s roof is solar panel-ready.

Read full article: analyticsindiamag.com