The recent collapse of UST has once again demonstrated that many of the so-called stablecoins in the web3 world today are tied to high-risk and often unsustainable assets. As decentralized finance attempts to expand its reach, it appears to be in dire need to find alternative sources of yields. Dur…
Byju’s cuts over 600 jobs, pushes back payments for $1 billion acquisition
Byju’s, India’s most valuable startup, has eliminated over 600 jobs in recent days and pushed back on payments for a $1 billion acquisition it announced last year. The Bengaluru-headquartered startup, valued at about $22 billion, has cut over 300 jobs at Toppr, an online learning startup it acquire…
Mapan’s services helps low-income Indonesians users afford goods and services
In Indonesia, arisans are traditionally rotating savings and credit associations (RSCA) that let groups of people, primarily women, save and borrow money together. Mapan digitized that concept, and turned it into a service where users, also mostly women, can use it to pay for goods and services. Th…
WhiteHat Jr, the kids-focused coding platform that edtech giant Byju’s acquired for $300 million two years ago, has eliminated about 300 roles in recent days, the latest in a series of startups globally to cut workforce amid the market downturn. The layoff impacts the startup’s teams globally…
India will give VPN providers and cloud service operators an additional three months to comply with new rules that require they maintain names and addresses of their customers and their IP addresses, giving some relief to firms as many scramble to follow the new guidelines and some explore the opti…
Google backs Progcap, a startup delivering working capital to small retailers in India
The investment is part of a $40 million fresh funding Progcap has raised, said the startup, which also counts Tiger Global and Sequoia India among backers.
Indian fintechs request central bank to treat full-KYC PPI same as bank account to survive crackdown
Payments giants and fintech startups in India on Saturday requested the central bank to treat widely used prepaid payment instruments on par with bank accounts for customers who have undertaken certain verifications, days after the monetary authority signalled industry-wide crackdown. The Payments …
Having a great "ask" slide can reassure investors: It shows a founder wants to raise an amount of money that unlocks the next stage of growth and knows what milestones they need to hit to get there.