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News on Medial
Grapevine: Flipkart, Super.money, Ather Energy, and Nobel Hygiene in news
VCCircle
·
6m ago
Medial
Flipkart is reportedly in advanced discussions to lead a $35-40 million funding round for its fintech unit, Super.money. This round may introduce external investors, though Flipkart intends to retain majority ownership. Super.money is expected to dilute up to 10% of its equity, suggesting strategic growth and expansion plans. This move reflects Flipkart's ongoing interest in bolstering its financial technology offerings and potentially diversifying its investment portfolio.
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Neo Asset Management invests $20 mn in diaper maker Nobel Hygiene
VCCircle
·
2m ago
Medial
Neo Asset Management has invested $20 million in Nobel Hygiene, a disposable hygiene products maker, through primary and secondary transactions. This move aligns with Nobel Hygiene’s plans to expand its presence in the adult diaper market, enhance its distribution network, and support its growth trajectory towards an IPO. Nobel Hygiene, known for brands like Teddyy, Snuggy, and Friends, aims to capitalize on the $1 billion adult diaper market, targeting significant growth in the coming years.
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Grapevine: Imperial Blue, KKR, OTPP, Akzo Nobel, InCred, and Enel Group in news
VCCircle
·
7m ago
Medial
The sale process of Pernod Ricard's Imperial Blue whiskey, Akzo Nobel India Ltd, and Enel Group's renewable energy assets in India is progressing, as reported by various media outlets. Additionally, KKR and OTPP are planning to invest in Highways Infrastructure Trust, while InCred Financial Services Ltd has announced its plans.
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PE firms eye stake in diaper maker Nobel Hygiene as existing backers look to exit
VCCircle
·
1y ago
Medial
Several private equity firms are reportedly interested in acquiring a stake in diaper manufacturer Nobel Hygiene Pvt. Ltd, as its existing backers consider exiting. The Mumbai-based company is expected to secure a deal that involves a primary capital infusion. The potential investors are looking to capitalize on the increasing demand for hygiene products, particularly in the diaper segment.
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Sachin Bansal exits Ather Energy selling remaining stake to Hero MotoCorp, Nikhil Kamath
Economic Times
·
1y ago
Medial
Flipkart co-founder Sachin Bansal has sold his remaining 7.5% stake in electric scooter manufacturer Ather Energy. Bansal sold a 2.2% stake to Hero MotoCorp for INR 124 crore and the rest to Zerodha co-founder Nikhil Kamath. Bansal had previously invested around INR 400 crore in Ather Energy. Hero MotoCorp's inferred valuation for the latest stake purchase was INR 5,636 crore. After this transaction, Hero MotoCorp now holds about 40% of Ather's total shareholding. Ather Energy recently raised INR 286 crore ($34 million) in funding and plans to raise between $75-90 million in the next round.
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Jaipur man buys Ather electric scooter worth a lakh using ₹10 coins: See Pic
Livemint
·
1y ago
Medial
A man in Jaipur, Rajasthan, made an interesting purchase recently by buying an Ather 450 Electric Scooter worth over ₹1 lakh, completely paid in ₹10 coins. A picture shared by Ather Energy CEO Tarun Mehta showed the "new Ather owner" being handed over the keys, along with pouches filled with ₹10 coins. Ather Energy, backed by investors like GIC and Flipkart founders, is planning to list in India and has a market valuation of $739.4 million, with expectations of electric two-wheeler sales increasing to 60%-70% by 2030. A potential IPO in Mumbai is also being considered, which could value the company at about $2 billion.
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Flipkart may lead $35-40 million round in its Super.money
Economic Times
·
6m ago
Medial
Flipkart is negotiating to lead a $35–40 million funding round in its fintech venture, Super.money, potentially involving external investors while retaining majority ownership. Super.money, a rapidly growing Unified Payments Interface (UPI) app, recently exceeded Amazon Pay's transaction volumes. The funding, set to establish a valuation benchmark for Super.money, will support its aggressive scaling in 2025. Established as a separate entity, Super.money continues to innovate with products like credit-first UPI applications, fixed deposits, and instant lending solutions.
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Behind Flipkart’s big billion dreams for the fintech market
Inc42
·
1y ago
Medial
Flipkart is entering the lending space with its fintech platform, Super.Money, aiming to offer lending, insurtech, and other fintech products and services. The move represents Flipkart's strategic shift towards diversification and profitability, as it seeks to leverage its vast user base while navigating potential conflicts with PhonePe and regulatory complexities. Flipkart has invested $20 million in Super.Money and has introduced personal loans as an initial offering on its app. However, Flipkart faces challenges such as competition in the lending space and the need to bring in experts in financial services to lead operations.
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Flipkart fintech 2.0: Can super.money strike gold?
Livemint
·
11m ago
Medial
Indian e-commerce giant Flipkart has launched a new fintech platform called super.money, signaling its renewed commitment to the digital payments and financial services market in India. The app allows users to make UPI transactions and earn cashback. Flipkart, which previously owned digital payments company PhonePe, aims to establish a strong presence in the fintech sector. The launch of the co-branded credit card in partnership with Utkarsh Small Finance Bank is part of Flipkart's expansion into offering financial services beyond payments. Flipkart is leveraging its vast user base to accelerate customer acquisition for super.money.
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Flipkart launches UPI app Super.Money to offer financial services
Entrackr
·
1y ago
Medial
E-commerce major Flipkart has launched a unified payments interface (UPI) app Super.Money to offer payments, credit, deposits and other digital financial services. As a part of the beta version, the app will be available for initial 100,000 users. The app is live in partnership with Axis Bank while it will also offer credit through Utkarsh Small Finance Bank. As per the company’s website, DMI Finance and Credit Saison are other financial partners of Super.Money. The app is also offering coupons, scratch cards or coins for making UPI payments. “Super.money aims to democratise access to financial services by leveraging UPI infrastructure, which is aligned to the government’s larger vision of financial inclusion,” said Prakash Sikaria, CEO of Super.Money. The development comes 18 months after the separation of Flipkart and PhonePe, which is the leading UPI app in India with nearly 50% market share. It’s worth highlighting that Flipkart also has its own UPI handle within the shopping app. Super.Money was reportedly in talks to raise $20 million from Flipkart. In March, Flipkart launched its own UPI services which will allow its users to set up their own UPI handle for online and offline merchant transactions. As per NPCI data, the app registered 4.44 million transactions worth Rs 251 crore in May. Its arch rival Amazon Pay did 68.34 million transactions in the last month. With 48.6% market share, PhonePe is the leader among UPI apps followed by Google Pay and Paytm with 37% and 8% market share respectively.
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Quadria, Sixth Sense-backed Friends, Snuggy diaper maker takes a down round
VCCircle
·
2m ago
Medial
Nobel Hygiene Pvt Ltd, the company behind Friends and Snuggy diaper brands, experienced a valuation markdown in a new funding round, adding Neo Asset Management as an investor. Neo Asset Management invested $20 million via primary and secondary transactions. While specific transaction details remain undisclosed, this development reflects a down round in the company's valuation, as reported by VCCircle.
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