IppoPay experiences 94% revenue decline in FY24, swings to losses Chennai-based fintech startup IppoPay experienced a drastic 94% revenue decline, dropping from Rs 329.77 crore in FY23 to Rs 18.12 crore in FY24. Founded in 2022 by Mohan Karuppaiah and Jai Kumar, IppoPay functions as a payment aggregator, offering solutions such as QR codes, sound boxes, and lending options. The company has raised Rs 17.33 crore in funding over three rounds, with its latest seed funding in August 2024. Despite a valuation exceeding Rs 90 crore, IppoPay reported losses of Rs 52.40 crore in FY24, down from profits over Rs 100 crore in FY23. Key expenses included employee benefits, advertising, and professional fees, contributing to negative EBITDA and ROCE margins. #IppoPay #Fintech #PaymentAggregator #StartupNews #FundingRound #ChennaiStartups #StartupFunding #Entrepreneurship #TechNews #FintechStartups #BusinessInsights #StartupChallenges #TheKredible #News https://thekredible.com/blogs/ippopay-experiences-94-revenue-decline-in-fy24-swings-to-losses

Funding and acquisitions in Indian startup this week [16 – 21 Sep] In the past week, Indian startups raised approximately $628.24 million, with 14 growth-stage and 17 early-stage deals. Notable growth-stage fundings included Physics Wallah ($210 million) and Whatfix ($100 million). Early-stage startups, led by Kaleidofin, secured $61.8 million. Bengaluru dominated city-wise deals, while e-commerce, SaaS, and fintech sectors led in segment-wise funding. Overall, funding increased by 175% compared to the previous week. Three funds were launched: Z21 Ventures, Capital A, and Shivalik Investment Fund. Noteworthy developments included Byju’s layoffs, MobiKwik partnering with Meta, and PhonePe capturing over 50% of the UPI market. Meanwhile, Elara Capital predicts a lower valuation for Swiggy compared to Zomato, amid ongoing challenges for BYJU’S. #Entrackr #Fintrackr #News #Startup #StartupNews #IndianStartup #StartupFunding #VentureCapital #Edtech #Fintech #StartupEcosystem #FundingRounds #MergersAndAcquisitions #TechInvestments #Entrepreneurship #StartupTrends #BusinessGrowth #StartupsIndia #FundingSuccess https://entrackr.com/2024/09/funding-and-acquisitions-in-indian-startup-this-week-16-21-sep/

OYO acquires Motel 6-parent G6 Hospitality for $525 Mn OYO has agreed to acquire G6 Hospitality, operator of Motel 6 and Studio 6, for $525 million in an all-cash deal. The acquisition, expected to close by late 2024, will transfer G6 from Blackstone Real Estate to OYO. Motel 6 operates 1,450 hotels across the US and Canada, generating $1.7 billion in gross room revenues. This marks OYO's second major acquisition, following its purchase of Checkmyguest for $27 million. OYO recently raised $175 million, with $100 million from founder Ritesh Agarwal, and plans to refile its IPO papers. Despite turning profitable last year, OYO's revenue from operations dropped 1.4% to Rs 5,389 crore in FY24. #Entrackr #Fintrackr #News #Startup #StartupNews #IndianStartup #OYOAcquisition #OYOGlobalExpansion #OYOInvestments #BusinessAcquisition #HotelIndustryNews #MergersAndAcquisitions #OYOin2024 https://entrackr.com/2024/09/oyo-acquires-motel-6-parent-g6-hospitality-for-525-mn/

Moneyview raising $30 Mn debt via private placement Moneyview, a Bengaluru-based lending platform, is set to raise Rs 250 crore ($30 million) through debt via private placements, marking its first significant debt round in three years. The funds will be allocated for growth, working capital, and general corporate purposes. The company is also nearing unicorn status, with plans to raise $50-60 million from new and existing investors, including Apis Partners, Accel Partners, and Evolvence India. To date, Moneyview has raised around $190 million and was valued at $900 million in its last equity round. The firm, which offers various financial services and products, reported a revenue increase to Rs 577 crore and a profit surge to Rs 163 crore for FY23. #Entrackr #Moneyview #DebtFunding #StartupFunding #Fintech #BengaluruStartups #PersonalLoans #FinancialGrowth #StartupNews #IndianStartup #Fintrackr #Startup https://entrackr.com/2024/09/exclusive-moneyview-raising-30-mn-debt-via-private-placement/

Decoding Rapido’s $120 Mn unicorn round Rapido, a mobility startup, has achieved unicorn status after raising $120 million in a Series E funding round led by WestBridge Capital. The funding, disclosed through regulatory filings, involved issuing equity and convertible preferred shares to raise Rs 1,002 crore ($120 million). Rapido plans to use the funds for expansion and growth. The startup is now valued at around Rs 8,517 crore ($1.02 billion) and has become the second-largest ride-hailing platform in India, surpassing Ola. In FY23, Rapido's operating revenue tripled to Rs 443 crore, although losses also increased by 54% to Rs 675 crore. WestBridge Capital remains the largest external stakeholder with a 32.88% share. #Entrackr #Startup #StartupNews #IndianStartup #Rapido #StartupFunding #UnicornStartup #StartupGrowth #StartupIndia #RapidoGrowth #StartupEcosystem #Entrepreneurship #FundingUpdate https://entrackr.com/2024/08/decoding-rapidos-120-mn-unicorn-round/

Decoding Rapido’s $120 Mn unicorn round Rapido, a mobility startup, has achieved unicorn status after raising $120 million in a Series E funding round led by WestBridge Capital. The funding, disclosed through regulatory filings, involved issuing equity and convertible preferred shares to raise Rs 1,002 crore ($120 million). Rapido plans to use the funds for expansion and growth. The startup is now valued at around Rs 8,517 crore ($1.02 billion) and has become the second-largest ride-hailing platform in India, surpassing Ola. In FY23, Rapido's operating revenue tripled to Rs 443 crore, although losses also increased by 54% to Rs 675 crore. WestBridge Capital remains the largest external stakeholder with a 32.88% share. #Entrackr #Startup #StartupNews #IndianStartup #Rapido #StartupFunding #UnicornStartup #StartupGrowth #StartupIndia #RapidoGrowth #StartupEcosystem #Entrepreneurship #FundingUpdate https://entrackr.com/2024/08/decoding-rapidos-120-mn-unicorn-round/

Zomato acquires Paytm’s movie and ticketing biz for $244 Mn Zomato is acquiring Paytm's movie and ticketing business for Rs 2,048 crore ($244 million), marking its first major acquisition since Blinkit in June 2022. The deal involves the transfer of 100% stakes in Paytm’s subsidiaries Orbgen Technologies (TicketNew) and Wasteland Entertainment (Insider) to Zomato, along with 280 employees from these subsidiaries. The entertainment ticketing business will remain operational on the Paytm app for up to 12 months during the transition. For FY24, this business generated Rs 297 crore in revenue and an adjusted EBITDA of Rs 29 crore. The acquisition reflects Zomato’s continued expansion and Paytm’s efforts to extract value from its struggling assets. #Entrackr #ZomatoAcquisition #PaytmDeal #Foodtech #EntertainmentTicketing #QuickCommerce #BusinessAcquisition #ZomatoGrowth #BusinessNews #AcquisitionNews #StartupMergers #Startup #IndianStartup #News #StartupNews https://entrackr.com/2024/08/zomato-acquires-paytms-movie-and-ticketing-biz-for-244-mn/

Zomato acquires Paytm’s movie and ticketing biz for $244 Mn Zomato is acquiring Paytm's movie and ticketing business for Rs 2,048 crore ($244 million), marking its first major acquisition since Blinkit in June 2022. The deal involves the transfer of 100% stakes in Paytm’s subsidiaries Orbgen Technologies (TicketNew) and Wasteland Entertainment (Insider) to Zomato, along with 280 employees from these subsidiaries. The entertainment ticketing business will remain operational on the Paytm app for up to 12 months during the transition. For FY24, this business generated Rs 297 crore in revenue and an adjusted EBITDA of Rs 29 crore. The acquisition reflects Zomato’s continued expansion and Paytm’s efforts to extract value from its struggling assets. #Entrackr #ZomatoAcquisition #PaytmDeal #Foodtech #EntertainmentTicketing #QuickCommerce #BusinessAcquisition #ZomatoGrowth #BusinessNews #AcquisitionNews #StartupMergers #Startup #IndianStartup #News #StartupNews https://entrackr.com/2024/08/zomato-acquires-paytms-movie-and-ticketing-biz-for-244-mn/

Beyond the Listing Bell: Tracking Key Metrics of Startup Tech Stocks Since the IPO boom of 2021, Indian startups have increasingly opted for public listings, shifting focus from unicorn status. Only two new unicorns emerged in 2024 compared to 47 in 2021, with 26 tech startups raising over Rs 64,000 crore via IPOs since 2021. These IPOs provide financial stability, wealth creation for investors, and inspiration for other startups. Notable IPOs include Paytm, Nykaa, and PolicyBazaar. The trend continues with companies like Ola Electric and FirstCry planning IPOs. Despite challenges, startups emphasize profitability and realistic valuations to attract investors, contributing to India’s economic growth and innovation. #TheKredible #StartupIPO #IndianStartups #IPO2024 #StartupSuccess #StockMarket #TechIPO #TechStocks #InvestmentOpportunities #IPOAnalysis #RevenueGrowth #InvestmentStrategies #IndianEconomy #InvestorInsights #StartupNews https://thekredible.com/blogs/beyond-the-listing-bell-tracking-key-metrics-of-startup-tech-stocks

Paytm reports Rs 1,501.6 Cr revenue and Rs 840 Cr loss in Q1 FY25 In Q1 FY25, Paytm's operational revenue fell 33.8% to Rs 1,501.6 crore, down from Rs 2,267.1 crore in Q4 FY24, and saw a 35.87% year-over-year decline. Total revenue, including interest and gains, was Rs 1,639.1 crore. Expenses dropped 8% to Rs 2,476.4 crore, with significant cuts in employee costs and payment processing expenses. Despite a 52.6% rise in quarterly losses to Rs 840 crore, Paytm remains optimistic, citing growth in its merchant base and transaction values nearing pre-pandemic levels. #Entrackr #Startup #StartupNews #IndianStartup #Paytm #RevenueReport #FinancialResults #BusinessUpdate #Q1FY25 #FintechNews #PaytmReport https://entrackr.com/2024/07/paytm-reports-rs-1501-6-cr-revenue-and-rs-840-cr-loss-in-q1-fy25/