These companies are using the services of startups such as IDfy, VerifyDigital, inVOID and Yoti to identify employees, run checks on gig economy workers and providers of shared services like bike rentals, car rentals, and for dating and marriage services.
Rainmatter is more of an incubator than a fund, said the founder of a startup which raised funding from the initiative. Startups look for advice from Kamath and his backing reduces the ‘go to market’ time for the companies, the founder said.
State Bank of India, HDFC Bank, Axis Bank and ICICI Bank together account for more than 45% of the total transactions reported on UPI last month, according to numbers sourced by ET from bankers in the know of the matter.
Open, founded in 2017, is solving business banking challenges by offering a platform that helps SMEs and startups automate and run their finances effectively.
Zomato rejects about 25% applications due to reasons like unavailability of proper documents, failure in background-check clearance and lack of right intent on part of the candidate to work as a delivery partner, the company said.
The tough financial conditions have meant that startups are using technology innovatively to reduce the cost of operations.This year has been stressful for non-banking finance companies (NBFCs), with a liquidity squeeze affecting the broader financial services sector.
There is a huge demand for loans to buy used vehicles, and that is where Loanzen intends to position itself. Firms are lending to driver-owners, fleet operators and even first-time borrowers, to finance vehicles and also to fund spare purchases.
Consumers made up for initial slowdown during the run-up to the festival with last-minute buys.
A key reason for the wider loss was higher employee cost and marketing spending that more than doubled.
Through this move, PayU is entering wealth and investments technology as it seeks to move beyond digital payments into broader financial services.
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