MobiKwik partnered with NBBL to introduce Forex payments directly on its mobile application

MobiKwik NBBL Partnership

India-based MobiKwik, a leader in the digital wallet and UPI industry, achieved a major feat when it introduced Forex payments on its mobile application. This innovative service was introduced in a strategic venture with NPCI Bharat Billpay Limited (NBBL). This is a groundbreaking move that puts MobiKwik squarely in its position among the first financial technology companies in the country to incorporate digital foreign exchange services into a mobile platform. The launch will help millions of Indians gain easy and fast access to foreign exchange retail services, making the process of gaining or sending foreign currency instant, entirely safe, and secure through the mobile app, and allowing the user to lock the best rates of the deal.

Cost-efficient and innovative Forex product

The launch of this new and convenient Forex product was formally announced at a well-known industry gathering, and this fact reinforced the significance of the product to the financial ecosystem. The new feature was used to carry out the first live transaction in the august presence of Shri T. Rabi Sankar, the Deputy Governor of the Reserve Bank of India, at the endearing Global Fintech Festival in Mumbai, on 7th October, 2025. This high-profile launch indicates that MobiKwik remains intent on active support of the vision expressed by the Government and the Reserve Bank of India, which is focused on the creation of a fully digital and financially inclusive ecosystem across the country.

The supporting infrastructure that enables this ability is strong and cooperative. This project is made clear to be driven by NBBL in partnership with the CCIL (Clearing Corporation of India Ltd.). The new Forex is located on what is known as Bharat Connect and is specifically designed in such a manner that the foreign exchange transactions are transparent and accessible to all potential users.

The platform offers an alternative, which is entirely digital and very cost-effective, to the conventional and frequently unwieldy methods of conducting dealings with regard to Forex and thus fundamentally changes the manner in which Indians undertake their foreign currency transactions. The site provides a benefit to users to instantly top up their forex cards via net banking or UPI, and they will receive it within a day.

The Co-founder, MD & CEO at MobiKwik, Bipin Preet Singh, said, “At MobiKwik, our mission is to simplify access to financial services for every Indian. With Forex payments, we are proud to be among the first fintech companies to introduce a regulated, digital-first foreign exchange service in the country. Users will now be able to access competitive forex rates, top up forex cards instantly using net banking or UPI, and remit money abroad with same-day fulfilment – all from the convenience of their mobile devices. This is a significant leap forward in making foreign exchange as seamless as digital payments.”

Quotation Source: The Tribune  

Digital-first Forex service features

The new Forex category is carefully crafted to significantly reduce the cumbersome nature of how Indians normally purchase and spend foreign exchange. This simplification is led by the fact that the service offers a full set of features made to focus on the experience of the users and regulatory standards. It provides a real digital-first experience and allows booking of foreign currency, top-up of existing cards, or remittances of funds without leaving the application. The platform will ensure that it offers competitive USD rates, whereby pricing will be just and benefit the user.

One of the unique characteristics is the dedication to Same-day (T 0) fulfillment. This provides the user with two main ways of completing their payment: they may receive the physical currency immediately in their favorite bank branches or decide to have the money remitted to them in a place outside of India in digital form. This is all run on a secure and compliant platform, which ensures that the users are comfortable that the RBI, as well as NBBL, is fully overseeing their transactions, and they are sure to follow all the required legal and financial guidelines.

This is a combination of speed, ease of digital nature, and compliance that has put the foreign exchange services at the fingertips of the users, serving them with a wide variety of needs. This encompasses a student who is paying university fees to a foreign country, a family who is planning to go abroad, or a small business that is sending money back to a foreign country. This groundbreaking innovation perfectly complements the national ambition to transform the foreign exchange services to be as easy and normal as regular domestic digital payments.

The MD & CEO at NPCI Bharat BillPay Limited, Noopur Chaturvedi, said, “We are delighted to partner with MobiKwik for the Forex category launch on Bharat Connect. This innovation is set to transform how individuals purchase foreign exchange currencies, providing a transparent and seamless experience for users. Envisioned by RBI and in partnership with CCIL, this initiative reaffirms our commitment to making financial services easy and accessible to all Indians.”

Quotation Source: The Tribune  

Conclusion

MobiKwik has provided a technological breakthrough by making the foreign exchange process a digitized and instant one, thus fulfilling a significant gap in the daily financial requirements. MobiKwik has a robust base and a wide range of product offerings such as Wallet, UPI, Pocket UPI, and Zaakpay and a wide portfolio of financial products such as credit to investments which enables it to constantly empower millions of Indians to transact with unprecedented simplicity and security, with a substantial 19% market share of the PPI wallet gross transaction value (GTV) as at September 2025, as per RedSeer Report. This partnership with NBBL on the instant Forex platform reaffirms that it is contributing to the digital financial revolution of the country.

Yubi Group Secures ₹400 Crore+ in Funding to Invest in Product and Market Expansion

Yubi Group ₹400 Crore Funding

CHENNAI, India – 18 November, 2025 – Yubi Group, the AI-powered operating system (OS) for financial services, today announced that it has raised a total of ₹411 Crore in a fresh funding round. The capital comprises a long-term structured debt funding and equity of up to ₹336 Crore from EvolutionX Debt Capital, a growth stage debt financing platform, and equity of ₹75 Crore from the Founder and CEO, Gaurav Kumar. This takes Gaurav’s equity investment to over ₹330 Cr in the company. 

The funds will be strategically deployed to accelerate Yubi’s geographic expansion into the SEA and US markets, further strengthen its foothold in the Middle East and deepen investment in its proprietary AI products. Gaurav Kumar’s significant equity infusion underscores his strong conviction in Yubi’s vision and its future growth trajectory.

“We are building the foundational OS for global financial services. This investment is a powerful endorsement of our vision and our execution capabilities,” said Gaurav Kumar, Founder and CEO of Yubi Group. “The funds will enable us to replicate our Indian success story in new international markets, supercharge our AI stack, and strategically expand our ecosystem. Partnering with a prestigious institution like EvolutionX provides us with the flexible, long-term capital to pursue our ambitious goals.”

“We are impressed by Yubi’s transformative impact on the credit ecosystem in India. The company has demonstrated remarkable scale, robust technology, and a clear path to profitability,” said Rahul Shah, Partner at EvolutionX Debt Capital. “We are excited to partner with Gaurav and the Yubi team as they embark on their next phase of growth, and we believe our capital will be instrumental in scaling their unique model globally.”

Yubi Group, recently awarded ‘Fintech Startup of the Year’ at the Global Fintech Fest 2025, has facilitated over ₹3.2 Lakh Crores in debt, powered 48 Lakh+ transactions, and serves over 17,000 enterprises and 6,200+ lenders & investors.

About Yubi: 

Yubi Group is a leading AI-powered operating system (OS) for financial services, founded in 2020 by CEO Gaurav Kumar. At its core is YuVerse, an applied AI suite powering four specialized companies – Yubi, Accumn, Spocto X, and YuCollect – that together deliver end-to-end solutions in lending, underwriting, and collections. Backed by leading investors including Peak XV, Insight Partners, Lightspeed, B Capital Group, Dragoneer, and TVS Capital, Yubi has facilitated over ₹3.2 lakh crore in credit and 3.5 crore transactions, serving 17,000+ enterprises and 6,200+ investors & lenders while reducing collections costs by 57%. The company is redefining transparency, compliance, and performance across India’s financial services sector. Visit www.go-yubi.com to learn more.

Media Contact:

Sayanee Chatterjee | sayanee.chatterjee@go-yubi.com | +91 9158836036

About EvolutionX Debt Capital:

EvolutionX Debt Capital (“EvolutionX”) is a growth-stage debt financing platform jointly established by Temasek and DBS Bank. Headquartered in Singapore with a regional office in Mumbai, EvolutionX provides non-dilutive, structured capital solutions to technology-enabled companies across Asia, with a strong focus on India, Southeast Asia, China and most recently, the Gulf Cooperation Council (GCC).

By backing high-growth technology founders and entrepreneurs who are transforming large, traditional industries, EvolutionX combines Temasek’s investment expertise and DBS’ global banking networks to accelerate the digitization of key economies and further catalyze the development of Asia and the GCC’s rapidly evolving innovation ecosystems. Through flexible growth debt, EvolutionX supports companies as they scale, pursue strategic initiatives, and prepare for public market readiness—while preserving long-term value for founders and stakeholders.

www.evolutionx.com.sg

PNB Housing Finance rises as India Ratings and Research elevates credit score to top-tier ‘AAA’

PNB Housing Finance AAA Rating

The stocks of PNB Housing Finance recorded a remarkable upsurge in the equity markets after a major news about the credit rating of the company. Its share appreciated by a significant margin of 2.02% to close at ₹936.90 directly as a result of a positive response by one of the biggest credit rating agencies. This growth reflects market optimism that the company has an enhanced credit profile and stability in the future. This market enthusiasm was triggered by the disclosure that India Rating and Research (Ind-Ra) had raised its long-term ratings on the housing financier.

Strategic resilience and market recognition

The particular rating action was a rise in the non-convertible debentures (NCDs) and bank loans of the company. These instruments were rated higher than the best possible category of rating, IND AAA instead of IND AA+. The upgrade had a stable outlook, which indicated that the rating agency had confidence that the credit fundamentals of the company are likely to be strong and stable throughout the future. This top rating group is a crucial indicator to investors and creditors, which implies the lowest anticipation of credit risk and an exceedingly high level of protection concerning the punctual servicing of its debts.

Among the main forces behind this major upgrade, one can single out the anticipation of the strong and prompt support by its parent institution, Punjab National Bank (PNB). India Ratings and Research clearly indicated that the upgrade indicates the expectation that the PNB Housing Finance (PNBHF) would get much-needed support in terms of liquidity as well as equity, as and when required. This trust is founded on the strategic move by PNB to retain its interest in PNBHF, therefore, continuity of the relationship.

PNBHF enjoys the advantages of a shared brand name with the high goodwill and market reputation of one of the largest public sector banks in India. This symbiotic association is a significant credit enhancer, which lowers the independent risk profile of the housing finance company. In addition to the implicit backing that its parent provides, the rating also demonstrates the innate strength of PNBHF in the Indian financial environment.

The company is a well-established and clear leader in the business of housing financing in India. This robust position in the market is specifically impressive because it has been attained by passing through various business cycles. PNBHF has survived through different economic and industry-specific conditions and has been resilient and a planner, which has proved that its business concept is sustainable and resilient. This history of stability in its operations is one of the major criteria used by rating agencies to evaluate long-term creditworthiness.

Enhancement and financial portfolio

The rating upgrade does not only rely on the external support but is also well anchored on the recorded improvements of PNBHF in its core financial and operational measures. The firm has shown a steady rise in its profitability, implying that it manages its costs well and that it is generating revenue effectively.

The asset quality has also improved considerably, indicating that the loan book of the company is performing better, with a decrease in the non-performing assets and an improvement in the asset recovery. These are the two factors, profitability and improvement of asset quality, which are important indicators of a well-run and healthy financial institution.

PNBHF has been able to achieve granularisation of the loan book. This is the diversification of its lending exposure in a large number of small, retail accounts instead of having risk in a few, big-ticket loans to corporations or developments. This granular strategy in itself lowers the risk profile of the portfolio.

The company has also shown its success in raising funds at competitive rates in the capital markets to complement its strong underwriting and asset management. This capability, along with the fact that it has sufficient liquidity buffers, puts PNBHF in a good position to meet its financial obligations and take up growth opportunities in the future, which further warrants the ‘AAA’ status.

India Ratings and Research has a positive to medium-term perspective towards the financial health of the entity. Ind-Ra expects that the credit cost of the entity will be modest. This expectation can be attributed to the aggregate impact of the increased stringency of the underwriting standards of the company, as well as the desirable composition of its loan book, and is dominated by retail and granular. Restricted underwriting policies make sure that lending is done to borrowers who have high repayment capabilities, and this directly translates to a reduced number of defaults, thus resulting in low credit costs.

Another segment that the rating agency has been pointing at is still monitorable. This is with regard to its affordable housing finance portfolio performance. Although this segment is typified by high growth, it is still at an infantile stage in the overall mix of business in the company. A major aspect that will be followed by Ind-Ra and the market in the long term will be the successful implementation and performance of this relatively new, high-growth portfolio to ensure that the rapid growth in affordable housing does not have any effect on the quality of assets.

Conclusion

The rating of PNB Housing Finance as IND AAA on ratings by India Ratings and Research is a tremendous achievement that confirms the strict strategic and financial performance path by the company. The rating represents a powerful mix of high external support, which implies that PNB is expected to provide both liquidity and equity support in time, and a well-established set of liberties, such as a steady increase in profitability, improved asset composition, and rational risk management, as evidenced by granularisation of the loan book. The positive perception of this top credit rating is proven by the market reaction, which resulted in an increase in the share price by more than 2%.

The S.W.A.D.E.S Style: When a Hobby Blossomed into a Movement for Responsible Fashion

The S.W.A.D.E.S Style

Sometimes, the most powerful revolutions begin by accident — not in a boardroom, but at a dining table; not with a pitch deck, but with passion.

That’s how The S.W.A.D.E.S Style was born, Says the Founding Team.

In 2024, three individuals — Sid, Pavithra, and Chithra ( Founding Team) — stumbled upon what would become a heartfelt journey toward redefining Indian fashion. It all started when Chithra, a trained fashion designer, began crafting cotton bags in her spare time. Her designs were elegant yet earthy — deeply inspired by Indian motifs, hand-printed textiles, and natural fabrics.

Sid

Pavithra

Chithra

When Pavithra’s friends saw these creations, they instantly fell in love and asked if they could buy them. What began as a casual hobby quickly started attracting real interest. That’s when Sid, an entrepreneur at heart, sensed something more — a movement waiting to unfold.

“Why not turn this passion into something larger — something that carries a message?” he wondered. And thus, The S.W.A.D.E.S Style took shape — a brand that marries style with sustainability, and fashion with conscience.

From the beginning, their goal was clear: to challenge the myth that leather is the only definition of premium. The world has long been conditioned to believe that luxury comes wrapped in leather — yet few pause to consider the cost it exacts on the planet.

A single square metre of leather emits around 150 kilograms of CO₂ (from cradle to gate). Compare that to cotton, which emits just 3.2 kilograms. That means a cotton bag production contributes barely 2% of the emissions of a leather bag. And the damage doesn’t stop there — leather takes 30 to 50 years to decompose, while cotton returns to the earth in mere weeks or months.

These were the uncomfortable truths that The S.W.A.D.E.S Style wanted to bring to light. Their message was simple — responsibility can be beautiful.

Each collection they create is handcrafted from 100% cotton, designed to be as functional as it is fashionable. Every bag is made by Indian artisans who carry forward generations of textile wisdom — celebrating traditional craft through a modern lens.

The trio believes that premium isn’t about gloss — it’s about grace. It’s about products that feel good, look good, and do good.

The journey hasn’t been without its challenges. Educating customers about eco-friendly fashion in a market dominated by synthetic glamour takes time and patience. Yet, every bag sold, every conversation started, and every artisan supported is a step closer to a world where “premium” means planet-friendly.

In less than a year, The S.W.A.D.E.S Style has evolved from a kitchen-table idea into a growing enterprise rooted in community and conscience.

As Sid often says,

“Premium is not what depletes the planet — it’s what respects it. True luxury lies in responsibility.”

In the next five years, the founders envision taking The S.W.A.D.E.S Style global — showcasing Truly Indic Fashion that honours India’s textile heritage and artisanal spirit. Their dream is not just to sell bags, but to inspire conscious living, one creation at a time.

Because sometimes, revolutions don’t start with noise. They start quietly — with a designer’s sketch, a friend’s admiration, and an entrepreneur’s belief that fashion can heal more than it harms.

And that is exactly what The S.W.A.D.E.S Style stands for — a hobby turned into hope, a product turned into purpose.

Website:

www.swades.fashion

Social: 

Facebook: www.facebook.com/theswadesstyle

Instagram: www.instagram.com/s.w.a.d.e.s

YouTube: www.youtube.com/@s.w.a.d.e.s

Unlimitr secured $1.1 million in seed funding at $7 million valuation

Unlimitr $1.1M Funding

Unlimitr, an all-encompassing wellness platform, has achieved a major financial breakthrough in the global wellness industry by completing its seed round. The firm has reported that it has been able to raise new capital of $1.1 million. This effective investment is accompanied by the good valuation of $7 million, which indicates that investors have a lot of confidence in the vision of the platform and the technology roadmap in a fast-moving health and wellness technology environment. The source of capital is a significant group of Texas-based investors, which gives Unlimitr the resources required to boost its growth and strengthen its core technology infrastructure worldwide. 

Enhancement and strategic deployment

The $1.1 million raised during the seed funding round will be allocated to a series of essential strategic actions meant to make Unlimitr one of the pioneers in the personalized wellness area. The new infused capital will be channeled around enhancing the proprietary Artificial Intelligence and analytics of the platform.

This improvement is essential to providing the user experiences that are highly personal and tailored so that the advice that is given is as effective and customized to the needs of individuals as possible. The development of strategic partnerships with a specific need to enter large markets in the world arena is also an important element of the strategy, as it highlights the intention of the platform to expand internationally and become more accessible.

Besides technological and market expansion, Unlimitr will use a part of the funds in human capital and community development. This involves the initiation of a special coach training and community involvement program. The program will help in maintaining the quality and consistency of the professional advice provided on the site and will also create a supportive and connected community for users around the globe.

The capital will be utilized to hasten product innovation, which is an ongoing effort that is required to keep Unlimitr at the pinnacle of offering holistic wellness solutions. This $1.1 million strategic placement will hence make both the technological growth and the geographical growth of the brand.

Core offering and global presence

In 2020, Unlimitr was established by the co-founders Ruchika Gupta and Gaurav Agarwal. The site, formally referred to by its clientele as Health Click Away, has in a very short time established a remarkable international presence since its establishment. Unlimitr is scaling to an amazing 40-plus countries, which speaks to the adaptable nature of their model and the demand for easily accessible wellness anywhere. 

The platform is a crucial linking point, linking its users with a significant community of wellness experts. Unlimitr also enables contact with over 5,000 accredited coaches, nutritionists, and fitness experts, and provides a broad range of expert services. Unlimitr has a fast-growing base of users, which today totals 98,000 active users of its services. The unique nature of the platform is defined by a combination of progressive AI-driven insights and fundamental human guidance. 

The final vision is to establish a connected digital environment. In this ecosystem, users can easily access personalized programs, access specialized customer support, and identify comprehensive solutions to their requirements. The focus of this future state is to be able to combine intelligent technology, the bedrock AI and analytics swirling, with empathetic insight, so that the growth of the platform is user-centric and more human-centered, as it expands to the rest of the world.

The Co-founder and CEO of Unlimitr, Ruchika Gupta, said, “What started as a personal need has evolved into a global ecosystem backed by AI, science, and compassion. With this investment, we’re set to make Unlimitr the go-to wellness destination, a lifestyle companion that understands, adapts, and grows with every user.”

Quotation Source: indianretailer.com   

Conclusion

The achievement of the $1.1 million seed round at a valuation of $7 million is an important inflection point in Unlimitr. Having raised capital with the help of Texas-based investors, the platform is now in a good position to pursue its strategic roadmap, which is focused on personalization improvement via AI, international expansion to large international markets, and strengthening its community of professional coaches. With an established and fast-growing community of 98,000 users and a network of more than 5,000 experts in 40 countries, Unlimitr is focused on its goal of providing personalized and sustainable wellness experiences, which has led to its growth.

Pype AI secured $1.2 million in a pre-Seed funding round led by Kalaari Capital

Pype AI $1.2M Funding

Pype AI, an Agentic Artificial Intelligence (AI) startup, is a Bengaluru-based startup that has effectively raised a $1.2 million pre-seed round of funding. The funding was led by Kalaari Capital, a leading venture capitalist company, with effective participation from Wyser Capital and Tenity. This new capital injection is to be allocated towards the fast-tracked growth of its in-house AI communication solution and a calculated move into the highly profitable United States (US) market, sealing its mission to act as the smart front office of the healthcare facilities all over the world.

Ambitious scaling plan and capital infusion

Dhruv Mehra and Ashish Tripathy established Pype AI in 2024. With the deployment of voice AI agents of high specialization, Pype AI will be used to address long-standing inefficiencies in the healthcare sector. Such a large pre-seed investment of $1.2 million indicates that investors are confident in the domain-focused nature of Pype AI AI solutions, especially when dealing with such a sensitive and demanding industry like healthcare.

Kalaari Capital, which led the funding, saw the potential in the startup to introduce large-scale reliability to the complex operational issues. The investor support will enable the Pypy AI to move its success in the Indian ecosystem to the global scope, increase its product features, and expand its market presence.

Pype AI has a solid presence in India, with about 15 hospitals in its report. Through the new capital, the business will proceed to speed up its growth plans in the US market. One of the major aspects of this growth plan is the inclusion of key electronic medical record (EMR) systems to facilitate the smooth flow of data and synchronization of operations in health institutions.

The ambitious scaled-up plan by Pype AI will have seen the company expand to cover 50 hospitals and clinic chains by the mid-year of 2026. Local MA is a characteristic technology of Pype AI, and it has concentrated on language diversity. The team invested efforts in fine-tuning its models to the Indian English accent to warrant effective and natural communication with patients in the area.

Since that time, the platform has managed to develop its language support to support Hindi and Kannada, which has been made possible by the major collaborations with reputable organizations such as Sarvam and Krutrim. The operational division of Pype AI is made up of engineers, researchers, and physician advisors, which strategically spread out in India and the US, as the company focuses on two markets and is determined to grow internationally.

The CEO of Pype AI, Dhruv Mehra, said, “Our platform is like an AI front desk for hospitals and clinics, serving as a communication layer. Pype AI began by finetuning its models specifically for the Indian English accent to ensure accurate and natural communication with patients. The company has since expanded its language support to include Hindi and Kannada, leveraging partnerships with Sarvam and Krutrim to enhance regional language capabilities.” 

Quotation Source: The Economic Times  

Central offering and efficacy of Pype AI

The flagship of Pype AI is a set of specialty-trained voice AI agents carefully tailored to take care of patient contacts in hospitals and clinics. The platform identifies itself as a crucial AI front desk to these organizations, building a smart communication layer that can greatly reduce the burden on human capital in administrative tasks. The agents have the responsibility of automating a broad range of routine patient requests and procedures, including some of the most important ones, like appointment booking, treatment preparation, following up, and offering 24/7 reliable support.

The effectiveness of the system of Pype AI lies in its highly specialized training approach. These voice agents are conditioned on large sets of medical conversational data and can comprehend and react to the intricacies of patient inquiries with low latency and high accuracy.

During the training stage, the company requires voice actors and contract nurses, a rare practice that is supposed to make sure that all automated conversations are perceived as natural, human, and caring, so that there is a positive patient experience. The platform has robust safety guardrails that work with the agents are actually instructed to never give medical prescriptions and are obligated to transfer calls to a human doctor smoothly whenever a query falls outside their knowledge base or needs to be medically judged.

The AVP at Kalaari Capital, Jayraj Bharat Patel, said, “Globally, healthcare has long suffered from deep operational inefficiencies. Pype AI is solving this with domain-specific agents designed to handle communication reliably and at scale.”

Quotation Source: The Economic Times  

Conclusion

The successful pre-seed funding round of Pype AI is an important milestone in the implementation of agentic AI in the international healthcare sector. With the creation of a reliable, compassionate, and highly specialized communication layer, Pype AI will restructure the interaction of patients with healthcare providers and organizationally transition the facilities toward operational efficiency and improved patient services. The funding obtained will be important in realizing their dream of making Pype AI the autonomous AI front desk of clinics and hospitals around the world. 

DriveU expands footprint in Tamil Nadu, launches operations in Madurai, Tiruppur, and Coimbatore 

DriveU Tamil Nadu Expansion

With this expansion, DriveU plans to grow its presence in Tier-2 cities and generate new income avenues for gig workers. 

Bengaluru, India – November 11, 2025 — DriveU, India’s leading on-demand driver platform for private car owners, has expanded its footprint in Tamil Nadu with the launch of its services in Madurai, Tiruppur, and Coimbatore. With this expansion, customers across these cities can now hire professional chauffeurs for both intra-city commutes and multi-day intercity trips such as weekend getaways and long vacations. 

DriveU’s relationship with Tamil Nadu has grown steadily over the past few years. After establishing a strong presence in Chennai, the Bengaluru-based startup is now deepening its reach across the state. With the new office in Madurai, DriveU now operates three offices in Tamil Nadu and has built a network of over 20,000 verified drivers in the region. The company’s expansion into Tier-2 cities is expected to create new livelihood opportunities for gig-workers and professional drivers. 

In Madurai, DriveU has partnered with two prominent automobile dealerships to provide reliable B2B driving solutions and will soon extend its services to individual car owners (B2C). In Coimbatore, DriveU already works with over 15 leading automobile dealerships, helping manage vehicle logistics and driver requirements. 

“We’re expanding to cities that are growing organically along with our brand’s popularity across India,” said Rahm Shastry, Co-founder & CEO, DriveU. “South India continues to be our highest-priority market, and Tamil Nadu stands out with its strong automotive ecosystem. We remain committed to deepening our presence in the region by making commuting easier and more convenient for people in their own cars, while creating sustainable income opportunities for professional drivers and gig workers.” 

Nationally, DriveU is India’s largest driver aggregator with over 1 lakh verified drivers across Bengaluru, Mumbai, Hyderabad, Pune, Kolkata, Chennai, and Delhi NCR. The platform has completed over 9 million trips for more than 1 million customers to date. 

To ensure the highest service quality, all DriveU drivers undergo rigorous driving tests, comprehensive background verification, and a course in professional etiquette and customer service before being onboarded.

DriveU’s services cater to a wide range of use cases — from daily office commutes and airport transfers to shopping trips, errands, social events, and outstation travel. Whether it’s a late-night party, wedding, concert, or business meeting, DriveU ensures safe, reliable, and comfortable travel in the customer’s own car. 

The DriveU app, available on Android, iOS, and the web, allows customers to book and track a driver in real time, view their photo and contact details, and enjoy transparent pricing with no hidden charges. 

About DriveU:

DriveU is India’s largest platform for on-demand driver services and is actively transforming how urban India experiences car ownership and everyday travel. 

● India’s leading on-demand driver service app 

● Over 1 million customers | 9+ million trips | 10 major cities 

● Over 1 lakh background verified drivers, 15,000+ monthly active driver partners ● Trusted by working professionals, families, and senior citizens 

Hoopr secured ₹4 crore in a pre-Series A funding round led by Inflection Point Ventures (IPV)

Hoopr ₹4 Crore Funding

Hoopr has already closed the first round of its pre-Series A funding round by raising ₹4 crore. Inflection Point Ventures (IPV) was leading with this important funding round, and several family offices and existing investors were present. This tranche capitalization will put the post-money valuation of the company at a notable ₹160 crore, solidifying its expanding role in the creator economy ecosystem. This new round of financing brings the total amount of capital that Hoopr has raised to ₹18 crore since it was founded.

Vision and capital infusion

Hoopr was co-founded by Gaurav Dagaonkar and Meghna Mittal in 2021 with a clear vision to open a transparent and accessible music licensing market. The main product of the platform is copyright-free music in a large library of more than 12,000 music tracks and sound effects (SFX). It is a huge catalogue created to be used by content makers and brands in a broad spectrum of media, such as videos, vlogs, podcasts, films, advertising campaigns, and apps, to make sure that within it, users are guaranteed compliance and the freedom of creativity.

The new funds will be used in several strategic projects aimed at enhancing the growth trend of Hoopr, both locally and globally. A major part of the capital will be channeled to the rapid growth of Hoopr Smash, which is the proprietary, automated self-serve music licensing marketplace owned by the company. 

This targeted expansion will be accompanied by an initiative to deepen, significantly, the music catalogue of Hoopr, especially in terms of the introduction of Bollywood, regional, and global music. Such growth of products will open up novel and profitable monetization opportunities to a broad scope of stakeholders, including artists, composers, and even established music labels.

In addition to the expansion of the catalogue, the investment will also be used to enhance the overall product innovation and size the talent pool of the company. Hoopr will be powering its globalisation efforts by aligning its current catalogue with the demands of the international markets. At the same time, the platform will vigorously onboard international music content, which is to be licensed in India. This two-pronged approach means Hoopr is developing an international grade music licensing ecosystem.

The Co-founder & CEO of Hoopr, Gaurav Dagaonkar, said, “At Hoopr, our vision is to shape the future of India’s creator economy by empowering musicians, enabling brands, and driving the next wave of the digital music revolution. With 4.4x growth since inception and 300% revenue growth this year, we’re now expanding globally and unlocking new monetization models for creators and brands. Over the next five years, we aim to build the world’s most trusted and intelligent music licensing platform — one that connects creativity and commerce seamlessly while strengthening India’s position on the global music map.”

The Co-Founder of IPV, Mitest Shah, said, “India’s creator economy is exploding, and Hoopr’s stepped in right where people need them — making copyright-safe music easy to get for anyone making digital content. With so many videos coming up everywhere everyday, their licensing solution just lands at the perfect moment. At IPV, we’re excited to back Hoopr. Their goal to create India’s biggest music licensing ecosystem and take it worldwide feels just right for where the industry’s headed.”

Quotation Source: MarcaMoney  

Core offering and transparent revenue model

The Hoopr Smash is the operational backbone of the site, and it offers the customers a very efficient and smart process of licensing. It has smart discovery features, hand-picked playlists, and quick licensing solutions, and it is easy to locate the ideal and licensed track for any creative endeavor.

The revenue structure of Hoopr is clear, and artists receive half of the amount of the licensing fees generated, once the initial start-up expenses are covered. Hoopr allows creators and major brands to deliver a high quality of content, and at the same time makes sure that a fair and worthy amount of money goes to the artists who supply the music.

The scale of the company will be evidence of how it has successfully entered the growing creator economy. Hoopr serves a massive user base of more than 250,000 creators, 100+ brands, and filmmakers. The platform has managed to onboard over 30,000 individual creators, including such high-profile creators as Chef Ranveer Brar, Ashish Vidyarthi, Tanya Khanijow, Mr. Indian Hacker, Flying Beast, and Rajesh Rawani. At the B2B level, Hoopr has already partnered with more than 180 corporate customers, including such big brands as Myntra, Marico, Sony LIV, Mumbai Indians, Meesho, Himalaya, and Cadbury.

The company has achieved strategic alliances with other industry giants like Yash Raj Films Music, Universal Music, Saga Music, Merchant Records, and Adobe. Hoopr also displays a token of transparency through its strong relationship with the Indian Performing Rights Society (IPRS), with the aim of establishing new industry standards of accountability in the music licensing industry. Hoopr has already partnered with over 300 independent artists in the past three years, working with 21 different regional labels, and has managed to pay out over ₹4.5 crore in royalties in this time period.

The Co-founder & CRO of Hoopr, Meghna Mittal, said, “Our technology forms the backbone that makes Hoopr scalable, transparent, and future-ready. This investment will fuel our AI-led innovation — enhancing efficiency, accountability, and brand protection while empowering creators like never before. As the creator-brand economy evolves, technology will define the future of music licensing — where every use is traceable, every creator is fairly rewarded, and every brand is protected. By strengthening our tech infrastructure, we’re building Hoopr to lead this transformation in India and beyond.”

Quotation Source: MarcaMoney  

Conclusion

The ₹4 crore of the initial tranche of pre-Series A financing has been successfully raised, and this is a significant step towards Hoopr. With the support of Inflection Point Ventures and other investors, the company currently has a strong standing to implement the ambitious growth plan. The capital will play a crucial role in the expansion of Hoopr Smash’s proprietary platform, the growth of its variety of music catalogue, and the technological innovations led by AI.

Tribe Stays secured $2.8 million in a seed funding round co-led by Artha Venture Fund and Riverwalk Holdings

Tribe Stays $2.8M Funding

Tribe Stays, an innovative and fast-expanding company in the extremely competitive hospitality industry in India, has reached a major milestone in its financial history, having effectively closed a seed funding round of $2.8 million (approximately ₹24 crore). This substantial capital injection will power the mission of the company to dominate the market of long-stay accommodations of premium quality in the whole country. The large-scale investment indicates the growing investor confidence in the managed living space segment and the singular positioning of Tribe Stays within the segment.

Capital infusion and strategic expansion

The seed funding round recently closed was an active involvement of a carefully selected group of institutional and individual investors. Two leading investment firms, Riverwalk Holdings and Artha Venture Fund, were also key co-leaders in the capital raise. They are leading this round of funding is an indication that they believe in the business model of Tribe Stays, and they are optimistic that it will be able to secure a large market share in the premium long-stay segment.

In addition to the lead investors, other major financial investors got involved in the seed capital infusion. These consisted of several prominent individual investors, like Kunal Khanna and Krishna Jain, and a pool of High-Net-Worth Individuals (HNIs) and reputable, prominent family offices. This heterogeneity in terms of sources of support, including venture funds, individual angels, and established family wealth, offers not only the muscle required but also the required strategic approval to the aggressive expansion strategies of Tribe Stays.

The recently acquired capital is not simply meant to be used in the ongoing running costs, but it is strategically dedicated towards the targeted expansion of three separate core sub-brands of Tribe Stays. This multi-brand strategy enables the company to serve the particular market segment demographics under the larger long-stay accommodation spectrum.

Tribe Student Accommodation is committed to the provision of high-quality managed residential homes that are specifically designed to address the requirements of students. This brand will be a new standard in comfort, safety, and community in education centers, as the need for quality student housing has been identified to increase.

Tribe Commune is aimed at a group of working professionals, providing an opportunity to co-live and share the spaces and conditions of the contemporary urban lifestyle. The segment corresponds to the demand for flexible and community-oriented housing solutions that the mobile workforce requires.

Tribe Suites targets the premium corporate market niche and provides premium, serviced long-stay apartments, which are targeted at corporate guests and executive customers who need to receive high-quality service during a long stay.

The short-term growth plan involves the substantial growth of the existing operating capacity of the company. Tribe Stays currently operates 650 beds in Pune. The company has established a challenging target of 1,000 additional beds in the sight of the ongoing financial year as a vivid sign of its desire to use the money immediately. This rapid growth is a practical initial move towards the achievement of the company’s vision across the country.

Objective and massive scaling effort

Beyond the addition of additional capacity currently underway in Pune, under the management of its founder, Yogesh Mehra, Tribe Stays is strategizing its future growth path along an aggressive, long-term direction. The ultimate goal is to expand business to a staggering 25,000 beds spread over major Tier I and Tier II cities in India.

The company has also well established its target metropolitan markets with emphasis on high-demand hubs that have strong needs for quality long-stay accommodations. These are the target markets of the new expansion, which involve big cities like Hyderabad, Bengaluru, Mumbai, Gurugram, and Pune. The choice will guarantee Tribe Stays to align itself in the economic and educational hubs where the need for controlled student, professional, and corporate accommodations is the most urgent and long-term.

As part of this massive scaling effort, the development of the company heavily depends on the ability to create key strategic partnerships. Tribe Stays will plan to work directly with big corporations and universities. Such partnerships will be crucial in establishing the company as an ideal partner in institutional managed living, whereby specific accommodation solutions will be offered based on student housing, employee relocation, and other long-term institutional needs. This institutional partnership is one of the strategies that cement the position of Tribe Stays in the market.

Conclusion

Tribe Stays has managed to raise $2.8 million in its seed funding, led by Artha Venture Fund and Riverwalk Holdings. This is not merely an infusion of capital in the company; it is a sign that India is ready to grow dramatically in terms of its long-stay market, which has always seen low demand. Having a long-term objective of expanding to 25,000 beds and a well-defined plan of institutional collaboration in such major cities as Bengaluru, Mumbai, and Hyderabad, Tribe Stays is now squarely on its way to becoming a national leader in the managed accommodation industry.

Godrej Properties to launch ₹22,000 crore housing plan during H2 FY26

Godrej Properties ₹22000 Crore Plan

Godrej Properties is preparing to experience a phase of rapid growth by declaring a massive scheme to launch new residential projects worth some ₹22,000 crore in the second half of the current fiscal year (H2 FY26). This is a massive launch pipeline that is deemed as one of the most important launch cycles the company has had so far, and is a strategic move meant to take active advantage of the continuously increasing consumer demand that is rife in the core real estate markets in India. The magnitude of the scheduled launches in the next six months is vital to the overall performance objectives of the firm and its subsequent position in the market.

Launch plan of Godrej Properties

The H2 FY26 massive ₹22,000 crore launch strategy is the core of the overall Godrej Properties strategy for the entire fiscal year. The company had set clear and challenging goals where it aimed to have a total of ₹40,000 crore worth of project launches and hoped to record a sales booking of approximately ₹32,500 crore of sales throughout the year. The ambition was supported by performance in the first half of the fiscal year, H1 FY26. During the first six months, Godrej Properties has managed to introduce projects worth ₹18,600 crore and made recorded sales bookings amounting to close to ₹15,600 crore.

These H1 figures show that the company had achieved nearly 50% of its annual launch and sales targets in the first six months. With new launches and the respective sales volume being stronger in H2, the company is still optimistic about its course. It can therefore be concluded that the ₹22,000 crore plan is the ultimately necessary step to narrow the gap between the final ₹40,000 crore launch target and the attainment of the sales target.

Market focus and capital infusion

The core force behind this intended expansion is the strong demand recorded in the housing sector, which was observed by Pirojsha Godrej has played a crucial role in enabling the company to maintain its strong growth momentum. The strategic focus of the company is also based on major urban agglomerations where the housing demand is the most intensive. Within this regard, the launching of new projects in Mumbai is going well, with the Executive Chairperson specifying an exciting new project that will launch in Worli and another major development that is to be launched by the end of March in Bandra. These are strategic launches in upscale locations in Mumbai to emphasise high-value market segments by the company.

In addition to the Mumbai Metropolitan Region (MMR), the company has remained strong in terms of sales performance with total sales standing at ₹29,444 crore in the past fiscal year (FY25), but to an extent, this has been contributed to by strong performance in terms of sales in various other major real estate markets. These are the Delhi-NCR, Bengaluru, Pune, and Hyderabad. The company is also in the process of enhancing its product range and geographical location by increasing its residential plots in a choice of emerging tier II cities.

The massive ₹22,000 crore launch program has been supported with a strong and highly liquid balance sheet, and this makes Godrej Properties well placed to expand further. The firm has the capacity to fund its vast growth pipeline, owing to the ₹6,000 crore it was able to raise in a Qualified Institutional Placement (QIP) last year.

This high capital inflow, coupled with its consistently robust operating cash flow, offers the much-needed resource to sustain the high-scale acquisitions and development processes implied in the intended launches. In the recent past, the company has shown financial strength through its interest in the second quarter of the financial year’s results of operations. In the business world, Godrej Properties recorded a remarkable net profit increase of 21% in Q2 FY26, which comprised consolidated net earnings of ₹402.99 crore. This profit performance was accompanied by the growth in the total income, which reached ₹1,950.05 crore in the quarter. 

Conclusion

Godrej Properties has found itself at the edge of one of its busiest development stages with a ₹22,000 crore launch plan, H2 FY26. With the well-developed consumer housing demand and with the sound financial health, the company is implementing a well-laid strategy to achieve or even exceed its aggressive annual sales targets of ₹40,000 crore in launches and ₹32,500 crore in sales. As it rolls out strategic projects in some of the most strategic places, such as Mumbai, and continues operation in its main metropolitan sites, Godrej Properties is portraying a calculated action toward market share and perpetuation of its mighty growth momentum within Indian real estate.

Maruti Suzuki Smart Finance achieved over 2.5 million mark in car loan disbursals, totalling ₹1.7 lakh crore

Maruti Suzuki 2.5 Million Car Loans

Maruti Suzuki Smart Finance (MSSF), the first digital car financing platform in India, has made a historic milestone of surpassing the 2.5 million mark in the number of car loans disbursed. This milestone is quite impressive in highlighting the tremendous success and adoption of digital solutions in the Indian motor industry. Since its launch in the Financial Year 2020-21, MSSF has been able to fund loans worth an incredible amount of over ₹1.7 lakh crore, essentially changing the car ownership of millions of clients.

Crucial objective and rapid expansion

The concept of Maruti Suzuki Smart Finance has a clear and crucial objective to directly resolve the major issues with car financing that have arisen over the years. The major issues surrounding these challenges were inconvenience and the lack of transparency to the customer. 

MSSF allowed Maruti Suzuki to transform the entire customer experience by moving from a complex, opaque, and paper-based one into a fully digital, transparent, and well-developed experience. This was a strategic step to offer a refreshing change to the cumbersome physical processes that had to be undertaken before.

The high rate of platform growth is a clear indication of how well-mature the digital solutions are in automotive retail within the nation. The size of the operations is impressive, having disbursed more than 2.5 million car loans; the total amount disbursed through MSSF since its inception is now more than ₹1.7 lakh crore.

MSSF has attained an impressive penetration of the existing customers of the brand. The information indicates that more than 40% of all customers of Maruti Suzuki, including the sales in the ARENA and the NEXA channel, have been able to avail loans via the Smart Finance platform. 

MSSF guarantees the customers a full range and extensive choice by collaborating with a large network of 35 finance companies. This massive alliance of partners is offered nationwide, ensuring that there is extensive coverage and customer competitiveness when buying a vehicle in the ARENA and NEXA dealerships.

Core strength of MSSF

The core strength of MSSF is its capacity to offer an end-to-end digital experience to the customers of Maruti Suzuki. This is a smooth operation that takes care of all the stages that the application of the loan until the final stage of the funds being disbursed, all of which is available anywhere and everywhere. The transparency and ease of use are also how the platform is committed to, which is evident in its package of essential digital features.

The customer will be empowered with facilities that involve a fully online loan application process, then finally loan sanction and disbursement. In the entire process, the user has the advantage of monitoring the status of their loan application in real time so that they are never in doubt about the process and are not required to make physical follow-ups.

One of the outstanding elements is the capability of the customers to quickly compare and select among the various financiers combined within the platform, so as to get the best terms. MSSF also offers ready-made and tailored loan services, which are exclusive to the needs of the salaried and self-employed. The rates provided are usually determined by the Credit Score-Based evaluations, which introduce further personalization and equity to the financing prospects.

Conclusion

Maruti Suzuki Smart Finance has been able to achieve the 2.5 million loan milestone is not merely a success of figures, but a major point of evidence on how automotive retail in India will turn out to be. Maruti Suzuki has not only reiterated its determination to transform the customer experience with high customer-focused digital solutions but also made it very clear by developing the first end-to-end/digital car financing solution in India. As one of the most effective working unions of technology and finance, MSSF is a strong testament to the fact that there is an easy, transparent, and enabling road to car ownership that allows millions of people to get their cars.

Nomura initiated an investigation into its India fixed-income business to determine potential profit inflation

Nomura India Investigation

Japanese investment bank Nomura Holdings Inc. has also embarked on an inquiry into its India fixed-income business involving serious claims of inflating profits over the past years. This in-house investigation, which throws light on valuation activities in a niche yet important section of the Indian debt market, entails top officials in the bank rates section, who have been requested to establish the extent and nature of the possible misconduct. The relocation indicates an increasing question in the financial industry as to the accounting techniques used on complex fixed-income products.

Internal investigation and subsequent valuation

Nomura’s compliance department formally initiated the probe, which indicated a significant degree of internal anxiety about the valuation and accounting conduct of the firm. The centre of the investigation is the evaluation of the trading desk at the firm regarding the initiated trades of particular structured sovereign securities, termed as Strips. 

Strips is an acronym of Separate Trading of Registered Interest and Principal of Securities. These financial instruments are designed by issuing long-term government bonds and disaggregating their future cash flows, the principal repayment, and the various coupon (interest) payments into different, separately-tradable securities.

The compliance department started investigating the activities of the local primary dealership of the firm about a month ago. The internal audit is specific, and it will focus on whether the trading desk has employed certain valuation methodologies that could have exaggerated financial reports. In the case of Nomura, the quality of such valuations is crucial, particularly after the company had become a key player in the Indian sovereign debt market.

The main concern under scrutiny is the purported act of marking positions to hypothetical prices, which, as indicated by those who were conversant with the situation, was not relevant to the true market liquidity. These theorized valuations are believed to be used by the trading desk, not on a price that can be obtained in a real market sale, and this would have the impact of possibly inflating reported business. This particular accounting procedure is subject to close examination due to the fact that it enables the institutions to report unrealized profits on securities that are usually illiquid.

The process is formed by breaking the government bonds of long date into the separate principal and interest parts (Strips), allowing this process to result in the individual valuation of the different parts. The issue is that the future valuation of these components might have been artificially increased to inflate the financial performance of this firm in general. This type of use of illiquid securities, coupled with dubious assumptions of valuation, is a considerable threat to the accuracy of financial reporting. The Nomura compliance department is currently in the aggressive process of resolving this issue.

Market for Strips and a surge in demand

This research is conducted against the backdrop of the Indian sovereign debt market, which is growing fast. The Strips market can be described as a niche segment, but it is a rapidly expanding segment of the overall sovereign debt market in India, which is also priced at a massive $1.3 trillion. Nomura has positioned itself as one of the most important participants in this particular segment, and the results of this internal investigation are therefore especially important to the reputation of the firm in Indian finance.

The Strips market has seen phenomenal growth over the past few years, and this indicates its growing significance. According to the figures of the clearing house, Trading volumes in Strips were ₹2.47 trillion (approximately $28 billion) in the year ending March 31, which is a rise of over six times higher than the figures registered five years ago. This is a dramatic growth that has given it increased attention and, unfortunately, increased concern throughout the industry.

The demand for these instruments has been boosted mainly by the presence of certain institutional investors, who are mainly the insurance firms. These companies have intensely increased their buying of Strips since they are zero-coupon securities. This format is very appealing to insurance firms because it ensures their cash flows are not vulnerable to risks and uncertainties of interest-rate fluctuations, thus it becomes easier to manage the long-term liabilities. Risks to the accounting integrity are new, however, with the increasing complexity and volume of the market.

The probe that Nomura has initiated is not being done in isolation; it highlights a wider, armed issue in the financial fraternity. This market is actually an area that has been reported to be a hotbed of accounting practices that can exaggerate reported gains either by aggressive or inappropriate valuation. By raising this matter, the internal investigation underscores the importance of effective compliance and open valuation practices as the specialized debt market goes on a high growth spurt in India.

Conclusion

The internal review of its India fixed-income business by Nomura Holdings Inc. is an indicator of a serious commitment to the examination of valuation integrity in a complicated and rapidly expanding section of the market. The investigation, which focuses on the pricing of Strips and how profits can be inflated with the help of a theoretical approach to pricing that is illiquid, puts the compliance department at the bank squarely in the middle of a growing problem. Considering the significant presence that Nomura has in the $1.3 trillion Indian sovereign debt market, the result of this investigation will be highly monitored by both regulators and other market actors alike, since it touches on the serious industry issues concerning the aggressive accounting practices in the high-growth Strips market.