Spice Money: Industry Monitoring 21 February 2019
- Priyanka Kanodia
- Feb 25, 2019
- 3 min read
Spice Money
Industry News
BharatPe in talks to raise Rs 120 cr in series-A round
Publication- The Economic Times
Edition- Online
Date- 21 February, 2019
BharatPe is in the final stages of raising nearly $17 million (about Rs 120 crore) from investors led by Sequoia Capital India, in what could turn out to be one of the largest Series-A funding rounds in India’s startup sector, said people aware of the deal. The latest fundraising is expected to value the payments startup at $60-65 million, they said. BharatPe runs a QR code-based payment app which enables offline merchants to accept digital payments via any service running on the Unified Payment Interface (UPI) directly to the merchant’s bank account.
It claims to make payment acceptance simple by offering merchants a single interface for all UPI apps such as Paytm, PhonePe, Google Pay, BHIM, Mobikwik, Freecharge and Truecaller, and 100 other UPI apps. BharatPe was incorporated last April by former Grofers chief technical officer Ashneer Grover and Shashvat Nakrani. The firm claims to have processed more than seven million transactions valued at over Rs 150 crore since then.
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Lucky draw for those making digital payments
Publication- The Times of India
Edition- Online
Date- 21 February, 2019
The MC organised a lucky draw on Wednesday at zone A office for the residents who have opted for digital payment method. The MC officials claimed that more than 40% of tax payers in the city have opted for digital mode of transaction and this trend is increasing with every passing day. Abhishek Kumar won the first prize, Subhash Kumar won the second prize, Rajiv Kumar Sharma, Jugal Kishore Khanna and Amar Singh won third prize, while Narinder Kumar Chopra, Sanjeev Kumar Bansal, JS Makkar, Ashwani Kumar and Ashok Kumar Malhotra won the fourth prize.
The additional commissioner MC Sanyam Aggarwal said a lucky draw of all such people was organised where 10 selected winners were awarded with attractive gifts. He said this draw is organised every month for people who use digital mode of payments for paying their property tax, house tax or any other tax. He clarified that residents don’t have to pay any hidden charges or surcharge for making these payments, for any payable amount. He said that for encouraging more residents to adopt online mode of payments, digital cards of city bus service are also being made at local bus stands, and soon, these cards can be found at all MC zonal offices.
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Jio Money’s Anirban Mukherjee to head PayU operations in India
Publication- Tech Circle
Edition- Online
Date- 21 February, 2019
Naspers-owned digital payments service provider PayU has announced the appointment of Anirban Mukherjee as India chief executive officer (CEO). He will be replacing Amrish Rau, who will be heading broader fintech partnerships and investments at Naspers, a South African media and e-commerce group. Mukherjee, who was co-CEO of Reliance Payments Solutions till recently, which owns and operates Jio Money, will be reporting directly to Laurent Le Moal, CEO of PayU Global. Apart from leading PayU’s India business, Mukherjee will be a part of the global leadership team at the company, driving credit and financial services in high-growth markets. He will also be in charge of operations and businesses at PayU India and will be (/) g p y responsible for investment opportunities for Naspers’ fintech growth.
Mukherjee will also lead new product development at PayU India into remittances and credit. “The business and regulatory environment in India creates great opportunities for PayU to further build on its strong position in payments and launch innovative new products and services, including offline solutions and credit,” said Le Moal, CEO of PayU Global, in a statement. He added that the company stood to gain from Mukherjee’s experience for its next phase of innovation, which will be focused on payments, credit, and fintech investments.
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