11 January 2022, Mumbai:

One97 Communications, the parent company of Paytm, a digital payments and e-commerce company, reported an increase in loan disbursals and gross merchandise value in the quarter that concluded in December 2021. In the most recent financial quarter, which concluded in December 2021, Paytm's GMV more than quadrupled to Rs 2.5 lakh crore ($37.6 billion).

TNN said that this sum was increased from Rs 1.1 lakh crore in the same period a year earlier. Loan disbursements increased fourfold year over year in the most recent quarter.

According to TNN, Paytm noted in an exchange filing, "Our monthly transacting users (MTUs) demonstrated sustained growth in FY21 and the first two quarters of FY22."

"The upward trend continued in the third quarter of FY22, with 64.4 million average MTUs, up 37 percent year over year from 47.1 million in Q3FY21." the company released its financial figures shortly after its stock reached a new low of Rs 1,151 per share, before closing at Rs 1,158 per share at the end of the day on January 10. 

This is a huge decline for the company, as its market capitalization is currently Rs 75,064 crore, down from about Rs 1.4 lakh crore at the time of its initial public offering. The Reserve Bank of India has suggested digital payments laws that might curb e-wallet costs, which is one reason for Paytm's recent share price decrease.

Paytm's payments sector accounts for a large portion of its income, thus any decrease in revenue from payment charges would have a significant impact on the company's overall revenue. As a result, some investors are concerned about the company's short-term growth prospects.

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10 January 2022, Mumbai:

To commemorate the 75th year of India's independence. Azadi ka Amrit Mahotsav highlights the exemplary growth of the startup ecosystem and become a platform for interaction, deliberation, and discussion for future potential startups Department for Promotion of Industry and internal trade IDP is organizing the Startup India Innovation Week.

Since the launch of the Startup India introduction on 16 January 2015 the Indian startup ecosystem has grown to the 3rd largest in the world with over 60,000 startups across 633 districts from all 28 Slates and & 8 Union Territories with their own dedicated Startup Policies.

COVID-19 was the black swan of the 21st century, but India's entrepreneurs responded to the pandemic by reimagining their businesses, and bouncing back in the face of adversity, embodying the true spirit of a self-reliant India.

This bears testimony to the fact that the clarion call given by the Hon'ble Prime Minister Shri Narendra Modi to use these trying limes to become Atmanubhar, has been very well received by our startups, enabling the resurgence of the Indian economy.

STARTUP INDIA INNOVATION WEEK 

07 January 2022, Mumbai:

Leads $240Mn Round In Move Aimed At Boosting Last-Mile Delivery For JioMart

Dunzo, which pioneered in India the concept of delivering almost anything to anyone within a city has raised $240 million in a funding round led by Reliance Retail Ventures On Its own. Reliance Retail has invested $200 million for a 25 8% stake in the Bengaluru venture. Existing Investors Lightbox, Light rock, L Capital, and Alteria Capital also participated in the round.

Dunzo CEO and co-founder Kabeer Biswas said, "With this investment from Reliance Retail, we will have a long-term partner with whom we can accelerate growth and redefine how Indians shop for their daily and weekly essentials"

SOURCE: TOI Dt 07-01-2022 

(The news article has not been edited by DFU Publications staff)

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10 January 2022, Mumbai:

Digital commerce platform Meesho on Thursday said 71 per cent of the new users coming to its platform were from tier III cities and beyond, including cities like Malkangiri, Baikunthpur, Munnar, and Mahua. Sharing trends seen during 2021 on its platform, Meesho said it had witnessed a 15x growth in direct-to-platform customers over the previous year.

"Meesho witnessed 15x growth in direct-to-platform customers over the previous year. In 2021, 71 per cent of all new users came from Tier 3+ regions like Malkangiri - Orissa, Baikunthpur - Chhattisgarh, Munnar - Kerala, Mankachar - Assam, Khalari - Jharkhand, Lalganj - Uttar Pradesh, and Mahua - Bihar," it said.

Meesho added that it now aims to reach 100 million monthly transacting users by December 2022 and increase its roster to over 50 million products.
Interestingly, people shopped the most on Wednesdays on the platform, driven by women shoppers. Men preferred Sundays. Also, 2 PM to 3 PM was the most preferred time to shop on Meesho throughout the week.

TOI 

06 January 2022, Mumbai:

Business-to-business (B2B) e-commerce startup Udaan has raised $250 million as it looks to scale up operations before going public in 18 24 months. Udaan raised $200 million via a convertible note along with $50 million as debt, showed an internal email by Aditya Pande, CFO at Bengaluru-headquartered startup. 

TOI was the first to report about Udaan's efforts to raise capital in new ways, including debt financing from global institutional investors.

"This round was oversubscribed 2x and also saw participation from our existing investors, exist including t those who bought into the company through the secondary (ESOP) round in HI 2021. Pande wrote in the email which TOI has reviewed.

"A convertible note is an instrument typically used by companies at the pre-IPO stage, and the instrument converts into equity at the IPO," he said.

SOURCE: TOI Dt 06-01-2021

(The news article has not been edited by DFU Publications staff)

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10 January 2022, Mumbai:

Ninjacart, a supply chain startup for fresh produce, has executed an ESOP buyback worth Rs 100 crore. underscoring a growing trend among Indian startups to enrich their employees and retain them in a highly competitive hiring environment.

ESOP

Both current and former employees of the Bengaluru-based firm are eligible for the ESOP buyback programme, which also gives them the option to entirely sell their vested employee stock ownership plans.

This is the company's second ESOP buyback The first one was conducted in 2019.

An ESOP is an employee benefit plan which gives a company's staff ownership of the firm through equity shares that they can sell at certain times.

retail.economictimes.com 

(The news article has not been edited by DFU Publications staff)

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04 January 2022, Mumbai:

Private equity and Venture capital (PE-VC) investor exits hit a record high in 322 at $38.7 billion across 270 deals due to a blockbuster year for public markets and hectic consolidation activity among digital enterprises.

The previous record was in 2018 when the Walmart, Flipkart deal had lifted exit value to around $26 billion.

Exits by value grew fivefold from $7 billion in 2000 and the number of exits jumped 72% from 157 In 2000, according to data from Venture Intelligence.

SOURCE: TOI Dt 04-01-2022 (The news article has not been edited by DFU Publications staff)

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