Listed below are some of the major news of the startup sector, take a look to stay updated:
Flipkart applies for NBFC certification to focus on customer lending
Flipkart applied for an NBFC (Non-Banking Financial Company) licence to focus on consumer lending.
According to reports, the company will take a hybrid approach, looking to take a good chunk of the loan book while also creating a curated marketplace of lenders.
The company will start its fintech services with microlending and micro-insurance for e-commerce purchases on its website. It has a long-term plan of moving to products such as general and life insurance. It also plans to revive its seller financing and wants to be competitive in the SME lending segment.
Edtech startup Eruditus raises funds
Edtech startup Eruditus, a company that offers executive education programmes globally has raised $2.3 million in debt from Temasek-owned InnoVen Capital.
Eruditus, promoted by Alumni of INSEAD and other top business schools, delivers high-quality executive education programmes to corporations and participants across the globe. Eruditus collaborates with global business schools and renowned faculty in delivering these programmes.
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Naukri parent Info Edge backs realty-tech startup ZippServ
Info Edge (India) Ltd, which runs jobs site Naukri.com, has invested Rs 3 crore (around $440,000) in ZippServ, an online platform that provides risk-assessment services for real estate investments.
Mumbai-listed Info Edge said in a stock-exchange filing that it will hold a 45% stake in ZippServ—operated by Bengaluru-based startup Ideaclicks Infolabs Pvt. Ltd—after the investment.
The company had previously invested Rs 2.4 crore in ZippServ for a 28% stake, its 2016-17 annual report shows.
Today’s Take Away:
Courage to complete the task that one has taken up is essential for entrepreneurial success.
Famous author, Ernest Hemingway had rightfully said,
“Go all the way with it. Don’t back off. For once, go all the goddamn way with what matters.”