KEB Hana Bank’s partnership with the crypto custodian ties one of the largest financial groups in the country to the digital asset space.
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Cronos tapped Google Cloud, Amazon Web Services, CertiK, PeckShield and various other firms to participate as mentors in the accelerator program.
European Central Bank executive Fabio Panetta warned of the risks associated with private stablecoins, while making the case for CBDCs.
A World Federation of Exchanges survey found 41% of respondents already offer crypto-related products or services, with a further 24% planning to offer them in the future.
Options tied to ether recorded their highest volumes since March of this year, Deribit’s Luuk Strijers told CoinDesk.
In another top-level exit at fintech unicorn BharatPe, its chief business officer (CBO) Nishant Jain has resigned after being with the startup for over three years.
In a LinkedIn post on Tuesday (September 5), Jain said he was starting a new position as executive director and CBO (assisted business) at broking firm Angel One.
“The past 3.5 years with BharatPe have been nothing short of extraordinary. It has been a thrilling experience, filled with the satisfaction of making a meaningful impact, achieving significant milestones, navigating thru (through) the challenges and triumphs & most importantly forging strong and enduring friendships,” wrote Jain in his social media post.
BharatPe was not immediately available to respond to Inc42’s query on the matter.
The latest exit comes days after it was reported that Dhruv Dhanraj Bahl, former chief operating officer of BharatPe who was recently appointed as the CBO for the merchant lending division, was set to quit the fintech startup this month.
BharatPe, which has been embroiled in multiple controversies since last year, has seen an exodus of senior executives, including chief technology officer Vijay Aggarwal, head of consumer product-PostPe Nehul Malhotra, and chief product officer of lending and consumer products Rajat Jain, over the last year or so.
In January, its CEO Suhail Sameer also stepped down from his role.
Prior to that, in 2022, BharatPe’s cofounder Bhavik Koladiya exited the company amid legal cases and the public mud-slinging with the startup’s former MD and founder Ashneer Grover, who also stepped down from his position last year.
Founded in 2018, BharatPe enables merchants to accept online payments through QR codes and PoS devices. BharatPe recently said its PoS business processes payments of over $3.5 bn annually on its machines.
In FY22, BharatPe’s operating revenue doubled to nearly INR 300 Cr while loss more than tripled to around INR 5,000 Cr.
The fintech unicorn has raised over $583 Mn in equity till date from marquee investors including Tiger Global, Peak XV Ventures, Steadfast Capital, Ribbit Capital, Insight Partners, and Steadview Capital.
As per a latest report, BharatPe is looking to raise $100 Mn in a new round of funding from existing and new investors.
The post Top-Level Exits Continue At BharatPe; CBO Nishant Jain Steps Down appeared first on Inc42 Media.
In another top-level exit at fintech unicorn BharatPe, its chief business officer (CBO) Nishant Jain has resigned after being with the startup for over three years.
In a LinkedIn post on Tuesday (September 5), Jain said he was starting a new position as executive director and CBO (assisted business) at broking firm Angel One.
“The past 3.5 years with BharatPe have been nothing short of extraordinary. It has been a thrilling experience, filled with the satisfaction of making a meaningful impact, achieving significant milestones, navigating thru (through) the challenges and triumphs & most importantly forging strong and enduring friendships,” wrote Jain in his social media post.
BharatPe was not immediately available to respond to Inc42’s query on the matter.
The latest exit comes days after it was reported that Dhruv Dhanraj Bahl, former chief operating officer of BharatPe who was recently appointed as the CBO for the merchant lending division, was set to quit the fintech startup this month.
BharatPe, which has been embroiled in multiple controversies since last year, has seen an exodus of senior executives, including chief technology officer Vijay Aggarwal, head of consumer product-PostPe Nehul Malhotra, and chief product officer of lending and consumer products Rajat Jain, over the last year or so.
In January, its CEO Suhail Sameer also stepped down from his role.
Prior to that, in 2022, BharatPe’s cofounder Bhavik Koladiya exited the company amid legal cases and the public mud-slinging with the startup’s former MD and founder Ashneer Grover, who also stepped down from his position last year.
Founded in 2018, BharatPe enables merchants to accept online payments through QR codes and PoS devices. BharatPe recently said its PoS business processes payments of over $3.5 bn annually on its machines.
In FY22, BharatPe’s operating revenue doubled to nearly INR 300 Cr while loss more than tripled to around INR 5,000 Cr.
The fintech unicorn has raised over $583 Mn in equity till date from marquee investors including Tiger Global, Peak XV Ventures, Steadfast Capital, Ribbit Capital, Insight Partners, and Steadview Capital.
As per a latest report, BharatPe is looking to raise $100 Mn in a new round of funding from existing and new investors.
The post Top-Level Exits Continue At BharatPe; CBO Nishant Jain Steps Down appeared first on Inc42 Media.
IPO-bound D2C furniture brand Pepperfry has raised $23 Mn from its existing investors, including institutional investors and family offices.
The fresh capital infusion will help the startup cater to its over 10 Mn customer base while strengthening its omnichannel presence, Pepperfry said in a statement.
The funding comes almost two years after the startup bagged around $45 Mn in a debt funding round from Norwest Venture and General Electric Pension Trust.
Besides the fundraise, the startup also announced elevation of its cofounder Ashish Shah as the new CEO, after the unfortunate demise of Ambareesh Murty last month.
The startup, which competes against the likes of Urbanladder, has been preparing for its initial public offering (IPO) since early 2022. It even converted itself into a public entity in May last year, a mandatory step before filing draft red herring prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI).
The startup is backed by the likes of Goldman Sachs, Norwest Venture Partners, Bertelsmann India Investments and State Street Global Advisors. It reported a net loss of INR 183 Cr in FY22, while total revenue stood at INR 264.1 Cr during the year. The startup’s expenses jumped 40% to INR 458.1 Cr in FY22 from INR 327.5 Cr in FY21 on the back of growing marketing expenses.
Founded in January 2012 by Murty and Shah, Pepperfry sells a wide range of furniture and other home products, including mattresses, dining and bar furniture, carpets, appliances, garden and outdoor, on its website. It also has an offline presence through its franchise model.
Pepperfry competes against the likes of Jaipur-based Woodenstreet, which last raised $30 Mn last year, Reliance-owned Urban Ladder, Think Investments-backed Arrivae, and Upscalio-backed Green Soul.
The post Pepperfry Bags $23 Mn Funding, Appoints Cofounder Ashish Shah As CEO appeared first on Inc42 Media.
The firm plans to use the funding to grow internationally and develop the company’s financial engineering platform.
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