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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The fintech startup, which lends to blue-collar workers, has big plans and deep ties to India’s biggest ride-hailing startup.
Editor's note: A little over a month ago, three-year-old fintech startup Avail Finance announced it had raised $11.5 million in fresh funding. The transaction valued the online lender—which issues loans to blue-collar and gig workers—at about $70 million, according to estimates by Entrackr. A modest deal for a smallish startup? There’s more than what meets the eye. For one, the COVID-19 pandemic has not been kind to online lenders, with both the economic fallout and unhelpful regulatory action putting immense pressure on companies. Apart from the large, well-established players, this has not been a good time for fundraising; Bengaluru-based Avail has not only raised a Series B round, but also managed to pull in a new investor in American hedge fund Falcon Edge Capital. Credit for blue-collar workers is a segment that hasn’t been kind to many entrepreneurs in recent months with some such as Pune-based Bon Credit exiting the space and some looking for buyers. Avail Finance, on the other hand, has by all accounts managed to weather the storm better than most, and amid this crisis situation, the company is …
The fintech startup, which lends to blue-collar workers, has big plans and deep ties to India’s biggest ride-hailing startup.
Editor's note: A little over a month ago, three-year-old fintech startup Avail Finance announced it had raised $11.5 million in fresh funding. The transaction valued the online lender—which issues loans to blue-collar and gig workers—at about $70 million, according to estimates by Entrackr. A modest deal for a smallish startup? There’s more than what meets the eye. For one, the COVID-19 pandemic has not been kind to online lenders, with both the economic fallout and unhelpful regulatory action putting immense pressure on companies. Apart from the large, well-established players, this has not been a good time for fundraising; Bengaluru-based Avail has not only raised a Series B round, but also managed to pull in a new investor in American hedge fund Falcon Edge Capital. Credit for blue-collar workers is a segment that hasn’t been kind to many entrepreneurs in recent months with some such as Pune-based Bon Credit exiting the space and some looking for buyers. Avail Finance, on the other hand, has by all accounts managed to weather the storm better than most, and amid this crisis situation, the company is …
The newly announced levy on UPI payments undermines the very foundation of using digital payments for stock market investing. Brokers are in a tizzy.
The EV maker is back for fresh capital as its businesses fail to generate enough to sustain themselves.
As Rapido and Uber pull ahead, falling traction and mounting financial stress leave Ola with few options.
The newly announced levy on UPI payments undermines the very foundation of using digital payments for stock market investing. Brokers are in a tizzy.
The EV maker is back for fresh capital as its businesses fail to generate enough to sustain themselves.
As Rapido and Uber pull ahead, falling traction and mounting financial stress leave Ola with few options.
