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Fintech startup Simpl aims to onboard over 3,000 merchants to empower D2C ecosystem in Karnataka
IndianStartupNews
·
1y ago
Medial
Fintech startup Simpl aims to onboard over 3,000 merchants in Karnataka, focusing on Direct-to-Customer (D2C) businesses, within the next 2-3 years. The goal is to support the growing D2C ecosystem in Bengaluru, which is known for its expanding startup base. Simpl plans to enhance conversions, reduce cash-on-delivery transactions, and minimize product returns for its merchant partners through its AI-led Checkout Network. The D2C sector in India is projected to grow at a CAGR of 34.5% between 2022 and 2027, and Simpl aims to empower D2C merchants in Bengaluru to become a leading enabler of change.
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Simpl introduces early settlement for D2C merchants to reduce CoD settlement time by up to 90 per cent
OutlookIndia
·
1y ago
Medial
Fintech startup Simpl has launched 'Early Settlement', a business offering for D2C (Direct-to-Customer) merchants in India. The service aims to reduce the settlement time for Cash on Delivery (CoD) orders by up to 90%, improving daily sales by almost 40%. CoD orders typically take 15-20 days to settle, causing cash flow issues. Simpl's Early Settlement ensures same-day settlement for both CoD and prepaid orders, helping merchants improve their cash flow and reconciliation. Over two dozen merchants have already adopted Early Settlement, experiencing increased sales and improved cash flow. Simpl plans to introduce real-time settlements for CoD transactions in the future.
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Ayekart Nets $6.5 Mn To Offer Agri Focussed Financial, Services
Inc42
·
1y ago
Medial
Agri-fintech startup Ayekart has raised $6.5 million in Series A funding to expand its operations nationwide and cater to a larger customer base. The funds were raised from investors Omnivore, Siana Capital, and Unleash Capital. Ayekart provides fintech and supply chain solutions for traditional businesses in the agrifood value chain. The startup claims to operate across 18 states with over 9,000 active merchants on its platform and has facilitated over 2.5 Lakh transactions. It aims to empower Farmer Producer Organizations (FPOs) and agrifood MSMEs by addressing their pain points through innovative fintech solutions.
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Karnataka To Launch Integrated Fintech Programme Soon
Inc42
·
1y ago
Medial
The Karnataka government is planning to establish a Centre of Excellence (CoE) for fintech startups, focusing on nurturing talent, leadership, entrepreneurship, and fostering innovation. The state's IT/BT Minister, Priyank Kharge, revealed that Karnataka has 1,300 active fintech startups, with 12 out of 23 fintech unicorns based in Bengaluru. The government aims to create a Fintech Regulatory Support framework to encourage innovation and industry growth. Last year, Karnataka announced plans to invest INR 25 crore in setting up a fintech hub in Mangaluru and launched the Startup Karnataka Policy 2022-2027 to support and strengthen the startup ecosystem.
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Simpl introduces Pay After Delivery checkout offering
OutlookIndia
·
1y ago
Medial
Fintech startup Simpl has launched a new payment feature called "Pay After Delivery Checkout." The offering allows users to make payments after receiving their orders, enhancing the purchasing experience. It helps reduce cash on delivery orders and returns for merchants by enabling payment to be deducted only after the successful delivery of a shipment.
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Life after getting payment aggregator license: Thousands of merchants already pinging us, says Razorpay's Harshil Mathur
Money Control
·
1y ago
Medial
Harshil Mathur, CEO of Razorpay, expressed his elation upon receiving approval from the Reserve Bank of India (RBI) to become a payment aggregator (PA). After waiting for over a year, Razorpay, along with other fintech companies like Cashfree, EnKash, Open, and Payments, can now onboard new merchants to their platforms. Mathur mentioned that thousands of merchants have been waiting and he is confident that Razorpay will be able to attract and onboard many new businesses. He also highlighted how the company focused on other business lines and initiatives to compensate during the waiting period.
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Nestcoin Secures $1.9 Million Investment to Scale Onboard Product
Robots
·
1y ago
Medial
African web3 startup Nestcoin has raised $1.9 million in funding, led by Hashed Emergent and joined by Adaverse and Base Ecosystem Fund. Nestcoin's focus has shifted to developing its Onboard product, aiming to provide equitable access to financial opportunities in frontier markets. The platform offers a noncustodial wallet with innovative features like email-based access and multifactor authentication. Onboard also plans to introduce a virtual card product for spending stablecoins globally. The investment from Base Ecosystem Fund will help Nestcoin expand its reach beyond Nigeria and empower individuals in frontier markets with greater financial access.
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MSH ‘Investor Connect Programme’ Reaches Delhi To Provide Funding Opportunities To Startups
Inc42
·
1y ago
Medial
The MeitY Startup Hub (MSH) is hosting an Investor Connect Programme on April 10 in Amity Innovation Incubator, Delhi NCR. The event aims to connect ten startups from sectors like fintech, edtech, AI, analytics, and agritech with over 20 investors. Supported by Amity Innovation Incubator and Inc42, the programme aims to empower emerging startups and facilitate funding opportunities. Delhi NCR is a growing innovation hub in India, ranking second in terms of startup funding. The Amity Innovation Incubator provides support to startups through its comprehensive ecosystem and has aided the growth of over 850 ventures.
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Inc42 & Simpl Host The CXO Lounge To Spotlight The Builders Powering India’s Startup Growth
Inc42
·
4d ago
Medial
Inc42 and Simpl hosted the CXO Lounge, a unique networking event for startup leaders in India, highlighting the country's rapidly growing startup ecosystem. With over 175K recognized startups, including 121 unicorns, India boasts the third-largest startup ecosystem globally. The event emphasized reducing friction, improving user experience, and innovation. Indian startups have collectively raised over $161 billion since 2014, reflecting a cumulative valuation of $650 billion, showcasing substantial growth and market impact.
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Mobikwik-owned Zaakpay gets RBI's in-principle nod to operate as payment aggregator
Money Control
·
1y ago
Medial
Fintech company Mobikwik's payment gateway arm, Zaakpay, has received in-principle approval from RBI to operate as a payment aggregator. This will enable Zaakpay to onboard new merchants. Mobikwik had applied for the license two years ago, and after initially being rejected in 2021, they reapplied in October 2022. Other top payment gateway firms in India, including Razorpay, Paytm, PayU, and Cashfree, are still awaiting final approval from RBI to onboard new merchants.
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Simpl Partners With Myntra To Offer 1-Tap Checkout During The Festive Season
OutlookIndia
·
1y ago
Medial
Fintech company Simpl has joined forces with fashion e-tailer Myntra to introduce its 1-tap checkout feature to Myntra's customers. This partnership aims to enhance the checkout experience for Myntra's customers and improve conversion rates for merchants. Simpl's 1-Tap pay feature will be available during the Myntra Big Fashion Festival, offering a seamless and convenient checkout process. This collaboration reflects the growing demand for convenience, particularly among Gen Z and millennial shoppers in the online fashion category.
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