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D2C Insider hosts first Super Angels Founders Day in Gurugram

EntrackrEntrackr · 1m ago
D2C Insider hosts first Super Angels Founders Day in Gurugram
Medial

D2C Insider, a community for direct-to-consumer (D2C) startups, held its first Super Angels Founders Day at UrbanWrk, Gurugram. The event brought together founders of portfolio companies, investors from the Super Angels Fund, and others from the D2C ecosystem. The event focused on the progress of Super Angels Fund I, a Rs 25 crore fund launched in the previous year. Founders from companies such as Assembly, Basil, Business on Bot, Crest, Divine Hindu, Futwork, GoOat, Pikndel, Snackible, Samosa Party, Solved Skin, and Steam Pro shared business updates and engaged with their early-stage investors. Among the investors who attended were Rohit Bansal (Snapdeal), Hitesh Dhingra (The Man Company), Sumit Baid (KeraGain), Atul Bhakta (One World Group), Mohit Garg (Assembly), along with others. A session titled “The Operator Capital Revolution” featured Rohit Bansal and Hitesh Dhingra in conversation with Abhishek Shah of D2C Insider. They discussed communication between founders and investors and the role of experienced founders in supporting newer ones. Another discussion, “From Guts to Graphs,” brought together both investors and founders to examine startup evaluation and the fundraising experience from both perspectives. D2C Insider provides funding and support to early-stage D2C startups and has a network of over 10,000 founders. The Super Angels Fund, introduced in October last year, focuses on investments in consumer-focused startups.

Groww receives RBI approval to operate as payments aggregator

EntrackrEntrackr · 1y ago
Groww receives RBI approval to operate as payments aggregator
Medial

Fintech unicorn Groww has received approval from the Reserve Bank of India to operate as a payment aggregator. The firm has joined several fintechs which recently received similar in-principle approval from the central bank. RBI has granted the licence to Groww Pay, the UPI payments platform of broking firm Groww. The licence will allow the Tiger Global and Peak XV Partners-backed firm to facilitate e-commerce transactions through its UPI app. Launched in July last year, Groww’s UPI app allows bill payment services such as making loan and credit card repayments, paying electricity and water bills and DTH recharge, among others. In October last year, Groww surpassed its arch rival Zerodha for the first time in terms of active users. Further, Groww ended 2023 with 7.5 million monthly active users whereas Zerodha and AngelOne had 6.7 million and 5.3 million MAUs, respectively. In terms of valuation, Zerodha stood at the top with $3.6 billion followed by Upstox and Groww with $3.4 and $3 billion, respectively. Last week, Groww’s Mutual Fund also received SEBI’s approval to launch the Nifty Non-Cyclical Consumer Index Fund through a new fund offering (NFO). Groww registered more than 260% jump in its operating revenue to Rs 1,277 crore in FY23, according to startup data intelligence platform TheKredible. The company also posted Rs 448.7 crore profit against Rs 239 crore loss in FY22. Like several fintechs, Groww is also planning to move its domicile to India. Entrackr exclusively reported the development in May last year. Other companies on the list include KreditBee, Pine Labs, Groww, Razorpay, Meesho and Zepto. Most recently, PayU received in-principle approval from RBI to operate as a payment aggregator. Besides PayU and Groww, fintech firms Razorpay, Cashfree, Open, EnKash, Juspay, and Infibeam also received PA licence from the apex banking body.

D2C Insider hits first close of maiden fund to back consumer startups

VCCircleVCCircle · 9m ago
D2C Insider hits first close of maiden fund to back consumer startups
Medial

- Startup enabler D2C Insider has reached the first close of its first fund for investing in early-stage consumer startups. - The Super Angels Fund has a target corpus of Rs 25 crore and has successfully hit the first close at Rs 10 crore. - D2C Insider plans to deploy the fund across 20-25 early-stage startups in the pre-seed/seed stages with average investment amounts of Rs 1 crore. - The fund has already invested in nine D2C startups including Basil, PiknDel, Samosa Party, Crest, Assembly, Futwork, The Solved Skin, Business On Bot, and Snackible. - The fund is backed by over 50 founders, including Snapdeal co-founder Kunal Bahl, with other notable backers being Aneesh Seth, Vedang Patel, Soumya Kant, and Vivek Biyani. - D2C Insider began as a community on a social networking app in 2019, and it has grown to include thousands of brand founders, enabler-founders, and investors.

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