Although hundreds of millions of Indians have bank accounts, only about 30 million of them have credit cards. The acceptance rate of the plastic card has largely stagnated in the South Asian nation in recent years. The relatively young credit rating system in India only covers a tiny fraction of the country’s population. And banks … Read more
To get a roundup of TechCrunch’s greatest and most important stories delivered to your inbox every day at 3:00 p.m. PDT, subscribe here. Hello and welcome to Daily Crunch for Thursday September 2, 2021. TechCrunch is largely retired tomorrow thanks to a Pan-Yahoo corporate hiatus. But don’t worry, all systems will continue to work as … Read more
Rapido, a bicycle taxi aggregator in India, announced Monday that it has raised $ 52 million in a new round of funding as the six-year-old startup seeks space in an Ola and Uber-dominated category in the South Asian market. The six-year-old startup’s new funding – Series C – was funded by Shell Ventures, Yamaha, Kunal … Read more
Amazon and the parent company of its top Indian seller Cloudtail have decided not to continue their joint venture after May 2022, the two companies said in a statement on Monday, hours after India’s highest court ruled that the American e-commerce company and Walmarts Flipkart must be subject to antitrust investigations. Billionaire NR Narayana Murthy’s … Read more
Unacademy has raised $ 440 million in a new round of funding as the Indian online learning startup seeks to expand into several additional categories. Temasek led the new funding round for the Bangalore-based startup, while Mirae Asset and existing investors such as SoftBank Vision Fund 2, General Atlantic, Tiger Global, as well as Zomato … Read more
MyGlamm, a direct-to-consumer beauty brand in India that sells most of its products through its own website, app, and retail touchpoints, announced Monday that it had raised $ 71.3 million in a round of funding has as the Mumbai-based company plans to scale its business in the South Asian market. The startup raised $ 23.5 … Read more
India-based tech startup Salesken.ai has secured an exposed server that has spilled private and sensitive data on one of its customers, Byju’s, an education technology giant and India’s most valuable startup. According to historical data from Shodan, a search engine for exposed devices and databases, the server has been unprotected since at least June 14th. … Read more
To get a roundup of TechCrunch’s greatest and most important stories delivered to your inbox every day at 3:00 p.m. PDT, subscribe here. Hello and welcome to Daily Crunch for June 24th, 2021. There’s a wealth of tech news out there today, but at the very top, if you’re into the advertising market, go here … Read more
Investors are backing Koo, an Indian alternative to Twitter, with extensive checks at a time when tensions are building between the American social network and New Delhi. The Indian startup announced on Wednesday that it had raised $ 30 million in a funding round led by Tiger Global Management. Mirae Asset, IIFL’s venture capital fund, … Read more
Why has Byju raised over $ 1 billion in the last year and is already nearing another half a billion dollars in hedge? We’re getting some answers today. Byju’s announced on Monday that it had acquired Aakash Educational Services, a 33-year-old chain of physical coaching centers, as the Indian online learning giant continues to consolidate … Read more