🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

Related News

IndiaGold turns profitable, secures NBFC licence as gold-loan demand soars

EntrackrEntrackr · 4d ago
IndiaGold turns profitable, secures NBFC licence as gold-loan demand soars
Medial

IndiaGold, the gold-loan fintech operated by Flat White Capital, has turned profitable at the profit-after-tax (PAT) level in the current financial year and has also secured a non-banking financial company (NBFC) licence, according to two sources aware of the company’s details. The development comes amid strong momentum in gold-backed credit across the country, as both borrowers and lenders increasingly favour secured lending. Industry data from CRIF High Mark shows that retail loans grew 18% year-on-year in Q2 FY26, with gold loans expanding 35.8% YoY. During the quarter, gold-loan originations surged 53% year-on-year to Rs 6.05 lakh crore. The data also points to a clear shift towards higher-ticket gold loans. Loans above Rs 5 lakh now account for over 30% of total gold-loan originations by value, while the Rs 2.5–5 lakh segment has steadily gained share over the past two years. In contrast, the contribution of loans below Rs 1 lakh has declined, a sign of wider usage beyond small, emergency-driven borrowing. While smaller-ticket loans continue to dominate volumes, gold loans are increasingly being used for business-linked needs, particularly by self-employed individuals and micro-entrepreneurs. The category also remains a key entry product for first-time borrowers, with new-to-credit customers accounting for around 15% of origination value in Q2 FY26. Geographically, gold-loan adoption is becoming more evenly distributed. Nearly two-thirds of originations now come from cities beyond the top nine metros, underscoring the category’s expanding pan-India footprint. According to sources, NBFC licence and its first profitable year would support the next phase of growth for its regulated lending business. While the company declined to comment on the story, a company’s spokesperson said that the focus will remain on strengthening risk management, operations, and customer experience as the Gurugram-based firm scales its gold-backed credit offerings. On the funding front, IndiaGold has raised $24 million to date, with its latest funding round coming in November 2022. It competes with digital-first players such as Rupeek, as well as traditional brick-and-mortar lenders including Muthoot Finance and Manappuram Finance.

Zomato hikes platform fee for users to Rs 5; pauses intercity deliveries

Economic TimesEconomic Times · 1y ago
Zomato hikes platform fee for users to Rs 5; pauses intercity deliveries
Medial

Food delivery platform Zomato has increased its platform fee for customers by 25% to Rs 5 per order, effective April 20. The fee increase, applicable in key markets including Delhi, Bengaluru, Mumbai, and Hyderabad, is expected to boost the company's earnings. Zomato's rival, Swiggy, already charges Rs 5 as a platform fee on food delivery orders. Zomato's platform fee is in addition to the delivery charge, but it is waived for Zomato Gold loyalty programme members. The fee was initially introduced in August 2023 at Rs 2 per order and was increased to Rs 4 earlier this year. The intercity delivery service, Legends, has been temporarily suspended by Zomato due to low consumer traction and legal issues.

Jar clocks Rs 208 Cr operating revenue in FY25, turns profitable in H2

EntrackrEntrackr · 4m ago
Jar clocks Rs 208 Cr operating revenue in FY25, turns profitable in H2
Medial

Jar clocks Rs 208 Cr operating revenue in FY25, turns profitable in H2 Savings app Jar has reported strong growth in FY25, reaching an operating revenue of Rs 208 crore during the fiscal year ending March 2025. The surge in scale came after the company vertically integrated its gold stack, which pushed its gross revenue to Rs 2,450 crore during the period. Vertical integration implies owning and operating several stages of the gold value chain. The Bengaluru-based startup also reduced its net losses (excluding ESOP costs) to Rs 35.23 crore and turned fully profitable in the last two consecutive quarters from January to June 2025. Founded in 2021 by Nishchay AG and Misbah Ashraf, Jar has built a base of over 35 million registered users across 12,000 pin codes, with more than 95% of its users being first-time savers. Jar leverages UPI Autopay to automate savings and has expanded into jewellery through its vertical Nek and forayed into insurance offerings. The startup has raised over $60 million with a valuation of approximately $325 million, backed by investors like Tiger Global, Arkam Ventures, Tribe Capital, and WEH Ventures.

Bharat Matrimony invests $500K in Ask My Guru

EntrackrEntrackr · 3m ago
Bharat Matrimony invests $500K in Ask My Guru
Medial

Bharat Matrimony, part of Matrimony.com Group, has invested $500,000 in Bengaluru-based AI startup Ask My Guru (AMG). This follows AMG’s earlier $1.2 million seed funding, bringing total funding to $1.72 million. The investment will support AMG’s AI astrology development and integration with Bharat Matrimony’s platform. Founded by Krishna Mohan Vedula and Vivek Sadamate, Ask My Guru provides AI-driven Vedic astrology solutions for matchmaking, using algorithms based on Vedic and KP systems. Users can get compatibility assessments, astrological guidance, and insights on relationships, career, and life decisions. The platform claims to have registered over 400,000 users and facilitated 5 million chats since its beta launch in June 2025. Ask My Guru plans to expand globally, starting with the US, while Bharat Matrimony provides access to its large user base of over 4 crore customers across web, mobile, and over 130 retail outlets. The partnership positions AI astrology as an integrated feature in online matchmaking, linking cultural traditions with technology for scalable matchmaking solutions.

Jar in talks to raise $100 Mn led by Westbridge

EntrackrEntrackr · 1m ago
Jar in talks to raise $100 Mn led by Westbridge
Medial

Bengaluru-based fintech startup Jar is in advanced discussions to raise over $100 million in a new funding round led by Westbridge, according to three sources aware of the details of the transaction. “The discussions are at an advanced stage and the company has received a term sheet which will value Jar in the range of $500-550 million,” said one of the sources requesting anonymity. “Kotak Investment Banking has been appointed as the banker for the transaction.” The proposed fundraise comes on the back of a strong financial performance by the company. In FY25, Jar reported Rs 208 crore in operating revenue. The company also turned profitable in the second half of FY25 and posted profits in two consecutive quarters, as reported by Entrackr. “The discussions have been ongoing for the past several months. If nothing goes wrong at the last moment, the deal will come through in the next 4 to 6 weeks,” said another source, who also requested anonymity. Queries sent to Jar and Westbridge on Monday remained unanswered, while Kotak did not respond to queries sent on Thursday until the story was published. Founded in 2021 by Nishchay AG and Misbah Ashraf, Jar operates a micro savings platform that allows users to invest spare change automatically into digital gold through UPI. It claims to have over 35 million registered users across more than 12,000 pin codes, with a large share of first-time savers. Over the past year, Jar has expanded beyond digital gold into jewellery through its Nek brand and has also entered insurance distribution. Jar has raised multiple funding rounds since inception. In August 2022, it raised $22.6 million in a Series B round led by Tiger Global at a valuation of over $300 million. Other notable investors include Arkam Ventures, Tribe Capital and WEH Ventures.

MoEngage raises $100 Mn from Goldman Sachs and A91 Partners

EntrackrEntrackr · 2m ago
MoEngage raises $100 Mn from Goldman Sachs and A91 Partners
Medial

MoEngage raises $100 Mn from Goldman Sachs and A91 Partners Customer engagement platform MoEngage has raised $100 million in its Series F round from existing investor Goldman Sachs Alternatives and new investor A91 Partners. The new round has come after more than three years for the Bengaluru and San Francisco headquartered company. The round comprises 60% primary and the remaining as secondary. With this round, MoEngage’s total funding has crossed $250 million. The company will use the proceeds to enhance its Merlin AI suite, a set of AI agents that help consumer brands automate campaign creation, offer decisioning, and improve conversion rates. It also plans to expand its go to market and customer success teams in North America and EMEA. “Over 300 enterprises worldwide have turned to MoEngage for its ease of use and AI led agility,” said Raviteja Dodda, chief executive officer and co-founder of MoEngage. “These enterprise migrations have accelerated our growth in the North America and EMEA regions,” he added. Goldman Sachs, which first backed MoEngage in 2022, has doubled its investment in this round. According to Entrackr’s sources, the firm was valued at around $700 million (post money) earlier. A MoEngage spokesperson did not comment on its current valuation. Founded in 2014 by Dodda and Yashwanth Kumar, MoEngage offers insights led customer engagement tools that help brands target users across web, mobile, email, and messaging channels. The platform counts SoundCloud, McAfee, Flipkart, Kayak, Domino’s, and Deutsche Telekom among its clients. The company serves over 1,350 consumer brands across 75 countries, powering digital experiences for more than 2 billion users each month.

Download the medial app to read full posts, comements and news.