- Briefing Your roundup of Asian tech and startup news that matter
Deepti Sri · · 1 min readIndia Roundup: IPO-bound Paytm mulls bitcoin offerings, and more
IPO-bound Paytm mulls bitcoin offerings
- The fintech company said it will consider bitcoin offerings if India eased regulations surrounding the adoption of cryptocurrency services.
- Currently, Paytm doesn’t provide such services because the rules around these assets remain in a “gray area.”
- The development comes amid Paytm’s plans for a public listing, which aims to raise as much as US$2.44 billion. (Read: Paytm IPO: 8 key points about India’s largest stock market debut)
Youngest unicorn Apna posts 3.2x jump in FYE 2021 revenue
- Apna recorded US$2.3 million in revenue in financial year ended (FYE) 2021, up from US$702,000 in the previous corresponding year. The increase can be attributed to the technical support services for recruiters that the company provides on its platform.
- Meanwhile, Apna swung to a loss of US$3.8 million in FYE 2021 from a profit of nearly US$40,000 a year ago, mainly because the company scaled its operations.
- Established in 2019, Apna leverages an algorithm that matches candidates with employers, taking into account their skills, experiences, and preferences. The company broke into the unicorn club in September after raising US$100 million in a round led by Tiger Global.
Peer-lending firm Finzy banks US$2 million in fresh funds
- The company didn’t disclose the investors that joined the round but said that it’s looking to get US$10 million as part of its series A fundraise.
- The latest investment will be used to develop Finzy’s tech and products for its lenders and borrowers.
- Founded in 2017, the company provides consumers with personal unsecured loans starting at an interest rate of 7.99% per annum.
Editing by Collin Furtado and Eileen C. Ang
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
