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Zippee has launched Blaze, a 60-minute delivery service for e-commerce in India, now operational in NCR, Bangalore, and Mumbai, with plans for expansion. The service covers various categories, including food, fashion, and skincare, aiming to meet rising consumer expectations for rapid delivery. Founded in 2021, Zippee operates dark stores and last-mile fleets across 13 cities, backed by $8.5 million in funding, and anticipates that 17% of its shipments will utilize Blaze by Q2 FY2026.
Fintech unicorn Cred is set to raise between $100 million and $200 million at a post-money valuation of $4 billion, down from $6.4 billion in 2022. This funding aims to support its growth and potential IPO within two years, reflecting a broader trend of declining fintech investments globally. Despite losses, Cred's expansion into a super app model and strategic acquisitions signal a shift towards sustainable revenue amid market challenges.
CRED has achieved significant growth, surpassing INR 2,400 Cr in revenue, signaling its successful strategy of focusing on the top 1%-2% of the fintech customer base. Over the past 18 months, the company, led by Kunal Shah, has launched various products to enhance user engagement, with recent efforts aimed at monetizing this elite segment through secured loans.
Flipkart has shut down Ans Commerce, a SaaS platform acquired in 2022 to bolster its e-commerce services, impacting around 110 employees. Despite fulfilling over 600,000 orders and raising $2.2 million in funding, the closure aligns with Flipkart's strategy to streamline operations ahead of its planned IPO in the next 12 to 18 months.
Fintech firm Cred has launched 'Svalbard,' a suite of features designed to help users manage their credit scores and secure digital credit lines by pledging mutual fund investments, with interest rates starting at 8.99%. The initiative includes tools like Aurora, which animates credit scores, and Foresight, a predictive analytics feature that forecasts the impact of financial decisions on credit scores. Additionally, Compass offers personalized roadmaps for achieving credit score goals, while an enhanced credit card management system provides a unified dashboard for tracking spending across multiple cards.
Kunal Shah's Cred is expanding its financial services by applying for a stock broking license through its subsidiary, Spenny. This move follows Cred's acquisition of a micro-savings and investment platform and aims to compete in the crowded stock broking market dominated by Zerodha and Groww.
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Zippee launches 60 minute delivery service expanding quick commerce in India
10:14 16.04.2025
Cred seeks to raise 200 million amid valuation drop and funding challenges
10:24 14.04.2025
cred targets top fintech users with new secured loan offerings
04:08 02.03.2025
Flipkart closes Ans Commerce as it prepares for upcoming IPO
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Arvind Fashions Ltd.
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Gokul Rajaram Waghunde
Kunal Shah
Kunal Bahl
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04:15 01.03.2025
cred introduces svalbard to enhance credit management and digital lending options
08:46 26.02.2025
cred subsidiary spenny applies for stock broking licence to compete with rivals
08:16 15.11.2024
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