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e-bike startup VanMoof, unable to pay its bills, files for payment deferment in Holland

TechCrunch · 2y ago

e-bike startup VanMoof, unable to pay its bills, files for payment deferment in Holland

E-bike startup VanMoof company has applied to a local court for an official suspension of payment provision after running out of money. Is VanMoof about to go ‘poof’? According to a report in the Dutch publication NRC, VanMoof is not officially bankrupt. Read the article to know more from the source link below-

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VanMoof makes a move: Lavoie acquires the e-bike startup out of bankruptcy and plans to relaunch it

TechCrunch · 1y ago

VanMoof makes a move: Lavoie acquires the e-bike startup out of bankruptcy and plans to relaunch it

Lavoie, a division of McLaren Applied, has acquired e-bike startup VanMoof out of administration for a price in the "tens of millions" of dollars. VanMoof had raised over $200 million as a venture-backed startup but struggled with glitches and costly servicing, leading to its bankruptcy earlier this year. Lavoie plans to invest in the brand and relaunch the business, using its urban mobility expertise to transform VanMoof's operations.

TechCrunch Mobility: Applied Intuition’s eye-popping valuation, the new age of micromobility, and Waymo’s wild week | TechCrunch

TechCrunch · 1m ago

TechCrunch Mobility: Applied Intuition’s eye-popping valuation, the new age of micromobility, and Waymo’s wild week | TechCrunch

Waymo, the leading commercial robotaxi operator, navigated a dynamic week by limiting services amid protests and expanding coverage in major California cities. Meanwhile, Applied Intuition attracted significant investment, raising $600 million to boost its valuation to $15 billion. Micromobility companies, strengthening their market presence, are pushing towards profitability, with Bird emphasizing data usage for optimal deployment. In other news, Honda launched an electric last-mile vehicle, and VanMoof reentered the e-bike market post-bankruptcy.

How This E-Bike Startup Raced To INR 100 Cr Revenue By Redefining Micromobility

Inc42 · 12m ago

How This E-Bike Startup Raced To INR 100 Cr Revenue By Redefining Micromobility

Pune-based e-bike startup EMotorad is set to establish the world's largest electric cycle gigafactory in India. With a growing domestic market and increasing demand for e-bike components worldwide, the company plans to address consumer needs through its two major product lines, the X Factor (economical) and the Desire (premium range). EMotorad has a 65-70% market share, and its revenue is primarily generated through B2B partnerships. The startup aims to produce 550K units annually once the gigafactory is operational. Additionally, they are developing an app to enhance the functionality of their e-bikes.

Alibaba's China ecommerce platforms to accept Tencent's Wechat Pay

Economic Times

Economic Times · 11m ago

Alibaba's China ecommerce platforms to accept Tencent's Wechat Pay

Alibaba's Taobao and Tmall platforms in China will now accept payments through Tencent's WeChat Pay, according to a statement by Alibaba. This move comes as Tencent has been investing in various e-commerce platforms, including Alibaba's rivals JD.com and Pinduoduo, both of which already offer WeChat Pay. Alibaba's domestic e-commerce market share has stabilized, with a slight decrease in revenue but an increase in the number of purchasers and their buying frequency. The integration of WeChat Pay as a payment option aims to further diversify payment methods within the Chinese e-commerce landscape.

Amazon Pay secures payment aggregator licence from RBI

Economic Times

Economic Times · 1y ago

Amazon Pay secures payment aggregator licence from RBI

Amazon Pay has received a payment aggregator (PA) license from the Reserve Bank of India, allowing it to offer online merchant payment services. This license will enable Amazon to strengthen its merchant payments business and provide secure and convenient payment experiences to its customers. Amazon Pay operates a consumer-focused mobile wallet and has issued 6.6 crore wallets as of January 2024. With this license, Amazon can process e-commerce payments and expand its services to direct-to-consumer sellers. In FY23, Amazon Pay reported operational revenue of Rs 2,093 crore and a net loss of Rs 1,499 crore.

MENA Digest: Ejari bags a big cheque; fintechs OCTA, Krti, Qpay get funding

VCCircle

VCCircle · 10m ago

MENA Digest: Ejari bags a big cheque; fintechs OCTA, Krti, Qpay get funding

- Saudi e-grocery delivery platform Nana acquires software solutions provider Rasseed to enhance the shopping experience for users. - Saudi rent-now-pay-later startup Ejari raises $14.65 million in a seed round to scale its business. - UAE-based fintech startup OCTA raises $2.25 million in a pre-seed round to automate payments collection for SMEs. - Dubai-based dropshipping service platform 4Partners secures $3.6 million to expand operations. - Kuwaiti online payment solutions startup Krti secures $1.5 million in pre-seed funding to strengthen the e-commerce sector. - Oman-based BNPL platform QPay closes a seed round led by Cyfr Capital to accelerate growth.

Flipkart expands bill payment suite in partnership with BillDesk

Economic Times

Economic Times · 1y ago

Flipkart expands bill payment suite in partnership with BillDesk

Flipkart has partnered with BillDesk to launch new bill payment services on its app. Users can now make payments for services like Fastag, DTH recharge, landline, broadband, and mobile bills. Flipkart aims to simplify digital payments and promote a cashless economy. The Bharat Bill Payment System (BBPS) processed around 1.3 billion transactions in FY24, and Flipkart expects this number to grow to over 3 billion by 2026. The company recently launched its UPI service, offering customers a safe and convenient option for recharges and bill payments. Meanwhile, rival Amazon is also expanding its fintech business, Amazon Pay.

Govt defers nod for Paytm's investment in its payments arm

VCCircle

VCCircle · 1y ago

Govt defers nod for Paytm's investment in its payments arm

The Indian government has postponed its approval of Paytm's $6 million investment in its Paytm Payment Services arm. The deferment is reportedly due to concerns about a Chinese shareholding in the parent company. Paytm is already under investigation by India's banking regulator and financial crime-fighting agency after being ordered to wind down its payments bank. The government panel responsible for approving the investment includes representatives from India's home affairs, finance, and industries ministries, as well as the foreign office, which has cited "political grounds" for its rejection of the investment.

New York City is testing public e-bike charging stations for delivery workers

The Verge

The Verge · 1y ago

New York City is testing public e-bike charging stations for delivery workers

New York City has launched its first public e-bike charging station in an effort to promote safe usage and prevent battery fires. The charging station, located in the East Village, will be available for free to 100 delivery workers during a six-month pilot program. The city, which experienced 18 deaths and 150 injuries due to e-bike fires in 2023, plans to open four additional stations in Brooklyn and Manhattan. The move aims to address issues stemming from poorly made e-bike batteries and unsafe charging practices, particularly in dense residential areas.

Bike taxis: Karnataka in no mood to relent on its stand, say sources

Economic Times

Economic Times · 3m ago

Bike taxis: Karnataka in no mood to relent on its stand, say sources

Karnataka is firm on its ban on bike taxis despite appeals from app-based aggregators like Rapido, Ola, and Uber. The transport department argues bike taxis evade taxes levied on autos and cabs, as they pay only lifetime tax. The High Court extended the deadline to cease bike taxi operations, while aggregators urge for regulatory rules and licenses. While some states like Delhi have adapted policies for electric bike taxis, Karnataka remains hesitant.

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