Startups tap new pools of capital; consumer lending apps hit profitability
ETtech.com - 2024-04-08T01:38:00.000Z

Happy Monday! There’s a shift in how founders and dealmakers are approaching funding in today’s times. Details on this and more in today's ETtech Morning Dispatch.Also in this letter:■ Challenges await new Wipro CEO■ Filter Capital’s closes maiden fund■ Illegal betting sites back in IPLETtech In-depth: How source of capital is diversifying for startup funding 109117040Entrepreneurs and dealmakers are beginning to look at potential funding transactions differently given that new kinds...

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Consumer lending apps on track on profitability front
Consumer lending fintech firms, badly impacted during the pandemic, seem to be finding some stable ground. With most of the startups operating in this space diversifying into ancillary businesses, the widening revenue horizon has started to play out positively in their balance sheets as well.Peak XV-backed consumer lending app Freo (previously Moneytap) has reported cash profitability since last December. It posted gross revenue of Rs 350 crore in fiscal 2023. Pune-based Fibe (previously...
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- 2024-04-08T00:30:00.000Z
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New venture capital firm Synapses to invest in climate tech, health tech startups
IIT alumni and veteran investors Ruchira Shukla and Karthik Chandrasekar have launched Synapses, a venture capital firm aiming to invest in climate tech and health tech startups.While Shukla earlier led South Asia investments for World Bank Group’s International Finance Corporation (IFC), Chandrasekar had founded early-stage climate fund Sangam, backed by Shell Foundation and USAID.With a fund size of $125 million (about Rs 1,040 crore), Synapses aims to support science, technology, engineering...
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- 2024-04-09T13:24:00.000Z

In related news

Consumer lending apps on track on profitability front

Colorado's startup community rallies behind Ibotta as Denver's popular consumer app has IPO

New venture capital firm Synapses to invest in climate tech, health tech startups