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Lending platform Indifi partners Retailio to strengthen its presence in pharma sector

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Following its successful foray into the pharma segment, Indifi is strengthening its presence in this space further. As part of this initiative, the leading MSME lending platform has partnered with Retailio, India’s largest B2B pharma marketplace. Through this association, Indifi will be pre-approving and providing pharma retailers with its curated credit options to meet small working capital requirements throughout India.

Retailio, a platform used by retailers to order products from distributors and make payments to them, will now have a lending option as well. Retailers can now take small loans from Indifi’s tech-driven lending platform, and ensure smooth working capital management. The partnership allows Indifi to cater to around 100,000 retailers already present on the Retailio platform.

Alok Mittal, CEO and Founder, Indifi, said, “One of the biggest challenges most retailers face in the pharma space is the lack of access to small-ticket credits. This makes it difficult for them to ensure smooth functioning of their businesses. By collaborating with Retailio, we aim to tackle this pain point and equip retailers with credit facilities to buy inventory from suppliers and ensure timely and seamless procurement in the process.”

Rupesh Pathak, Director – Retailio, said “We are committed to driving growth and sales within the pharma ecosystem by providing the best in class services on our platform. Working capital is one of the major challenges faced by small businesses today which need a solution. Having Indifi onboard is a step towards forging a strong partnership to provide the much-needed assistance to them. Our partners have always been quite enthusiastic about the products that are most trusted and this partnership will enable us to help them grow.”

Since its inception, Indifi has served numerous businesses with its large array of credit options. To take this vision forward, Indifi has launched industry-specific credit products that meet the working capital requirements of that segment.

Trell appoints former Flipkart executive Dina D’Souza as VP Monetisation

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Dina D’Souza has been appointed Vice President of Monetization at Trell, India’s leading lifestyle, vlogging and social commerce platform. As part of the leadership team, Dina will drive the brand and ad sales initiatives across India.

Dina brings with her 20 years of experience across print, digital, ad tech, gaming, and commerce industries. Her previous assignments involved leadership and sales roles at Flipkart Ads, POKKT, 9X Media, Microsoft, Yahoo!, and Bennett Coleman & Co. Limited.

“We are excited with the addition of Dina to the leadership team at Trell. Dina’s experience and expert knowledge will elevate our brand’s capabilities and build awareness with critical stakeholders. With her contribution, we look forward to building a robust system and functionality that can aid Trell in its monetization strategies in the current phase of growth for the platform,” said Pulkit Agrawal, Co-Founder, Trell.

“I am happy to join Trell to build the India monetization & sales strategy, at this juncture of its growth phase. The digital and media industry has seen significant shifts in the consumer’s media habits in the recent past. Regional content creation, video consumption, and online shopping continue to fuel digital growth in the country. Trell’s team has built a potent and differentiated product in the influencer led content, and lifestyle-commerce space. I look forward to bringing Trell’s full stack of advertising & content solutions to marketeers and media agencies and together build successful content to commerce brand strategies on the platform,” said Dina D’Souza on her appointment.

Trell claims to be India’s largest community commerce platform, where users share 3-minute vertical videos on over 20 interest-based lifestyle categories in over 8 Indian languages. With over 90 million downloads, the platform has hyper-grown over the past few months and surpassed the active users of Twitter and Pinterest in India. Currently, the platform is aggressively expanding its social commerce vertical, where users can also shop their favourite lifestyle products best suited to their needs, based on recommendations from trusted influencers.

Flix launches Tripper Bluetooth speaker at Rs 4,199 in India

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Beetel-owned smart accessories brand Flix has expanded its product portfolio with the launch of its first Bluetooth speaker called Tripper in India. With this launch, the brand also reinforces its online presence with all products being available on Amazon apart from offline stores.

Priced at Rs 4,199, Tripper is engineered to deliver deep, loud and immersive sound from its compact construction. The true 360-degree speaker comes with side radiators for deeper and unmatched bass that provides a uniform and complete surround sound experience. Its 31W output gives earth-shaking, powerful stereo sound by incorporating 3 speakers in 1 – having 8WX2 + 15WX1 powerful driver set up, including the large bass radiators, amounting to a thumping 31W loud Output.

Its TWS feature allows it to pair devices including speakers wirelessly. Giving an edge to connect 2 (1+1) speakers at one time, Tripper amplifies the listening experience. Its IPX7 water-resistant design covers the spill at the table or the accidental drop in the water. Stylish yet rugged, the speaker’s exterior resists dents, cracks and scratches.

The speaker can be paired for up to a distance of 20 feet. With a 2,200mAh battery, the speaker supports uninterrupted up to 12-hour playtime. Adding to the unique features, it also offers various connectivity options – Bluetooth and Aux. The speaker comes with easy access integrated controls, for ease of use.

Puneet Gupta, Business Head – Beetel India, said, “Despite having introduced Flix amidst the pandemic in India, we have received an overwhelming response both from our partners and consumers. The success and response are testimony to Beetel’s commitment to the Indian markets. Encouraged by the growing needs, we are now excited to introduce Flix audio solutions in India, designed as per the preferences of the Indian consumers, especially youth, who seek innovation with quality, and are willing to spend a bit more, to buy reliable products.”

“Along with the addition of new categories, we are thrilled to associate with India’s largest e-commerce marketplace – Amazon.in for Flix range of products. We look forward to leveraging Amazon.in’s wide reach, to offer a hassle-free shopping experience to consumers residing even in the remotest parts of the country. This is an exciting and promising beginning in the new year for Team Flix,” he added.

Akshay Ahuja, Category Leader – Consumer Electronics & Personal Computing, Amazon India, said, “In a very short span of time, Flix has built a credible following in the country and we’re excited to bring their products for customers on Amazon.in. With this launch, we continue to build a strong portfolio in the audio category providing customers with vast selection, unmatched value, fast, safe and reliable delivery and a great shopping experience.”

The Flix family of products in the audio range includes neckbands, headphones, earphones and portable speakers. In the next few weeks, Flix also plans to add wearables to its growing product portfolio.

ViewSonic partners Ingram Micro to fast pace LCD division in India

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Visual solutions provider ViewSonic has collaborated with Ingram Micro, the world’s largest provider of technology logistics services and solutions. Ingram Micro will be an exclusive distribution partner for ViewSonic’s LCD business targeting the Indian market.

The LCD monitor business in India is at a matured state and high-end professionals and gaming professionals have been the key players in fostering its growth. Ingram Micro has commenced its business with ViewSonic from January 1. This seamless partnership with a leading giant will append an additional benefit to the business growth and prospects for a longer-term.

Eric Wei – Senior Director, Asia Pacific ViewSonic, said, “We are glad to cooperate with Ingram Micro, a reputed national distributor, to jointly develop business in India. With Ingram’s strength and ViewSonic’s advantage, I believe we can create the value and share value with partners and customers. Then eventually make life more convenient and make business more efficient.”

In this year, ViewSonic will be adding new and innovative products in its portfolio compelling its end customers. For ViewSonic, this partnership will be a significant benefit in reaching its retailers via one partner Ingram Micro. This sole partner will ease the distribution process benefiting both.

Ingram Micro is an industry leader and is one of the largest companies in the world in distribution of IT products. Accelerating multiple growth opportunities in Indian market, it aims to keep its strategy significantly in the industry.

“We are excited to expand our offerings from ViewSonic to their LCD business. This partnership further strengthens the relationship between the two organizations and gives an opportunity to offer LCD monitors to our channel partners. It complements our existing portfolio. The best-in-class products from ViewSonic and Ingram Micro’s wide channel footprint will be mutually beneficial to both the organizations in advancing the business,” said Sanjay Achawal, Executive Director, Ingram Micro India.

Sanjoy Bhattacharya, IT Business Head, ViewSonic India, said, “We are happy to welcome Ingram Micro as national distributor for ViewSonic range of LCD monitors in India. Ingram Micro is India’s largest distributor, and they have a vast product portfolio of computer peripherals/hardware, with ViewSonic monitor they have completed the basket.”

He also added, “ViewSonic is a global leading display brand with futuristic product line up. I am sure this association will do wonders and together we give the best display solution to the Indian consumer and commercial customers.”

GalaxyCard introduces virtual card for digital transaction

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Fintech startup GalaxyCard, which offers instantly approved digital credit cards, has come up with its another revolutionary product – virtual shopping card, to provide hassle-free solutions to the costumers. The virtual card is exclusively developed by the company to help customers avail maximum benefits of digital commerce across different market segments.

The newly-developed virtual card enables the customers to shop online, book train tickets, make payments for e-books, online gaming, web streaming apps – Netflix, Hotstar, Amazon Prime, etc. All transactions supported by the virtual card will be wallet-based to be processed within a highly secured and risk-free mode.

Amit Kumar, Founder, GalaxyCard, said, “We are extremely delighted to come up with virtual card concept which is the need of the hour to promote contactless transaction in the present market scenario. The seamless and instant process of activating the card offers a world-class experience to customers. Additionally, our plans to offer exciting discounts and rewards are also going to help customers in an efficient shopping experience.”

Unlike the physical debit/shopping cards, it can easily be availed and accessed right from the GalaxyCard app. It features a card number, expiry date, and CVV that can be entered on any e-commerce website for processing the transaction.

Additionally, the customers also get real-time notifications for each transaction that makes GalaxyCard’s virtual card more reliable for customers. Moreover, to maintain a high standard of security, the customers can block any retail merchant at any time. This will give them better control over their subscriptions making it easy to unsubscribe from any site.

The GalaxyCard’s virtual card is one of a kind in the industry. This is an NPCI RuPay card that promotes Atma Nirbhar Bharat vision. It enables customers to allow/disallow any transaction. They can also turn off any subscription from the app itself that will make the unsubscription process easier.

Incepted in 2018, the company has acquired a huge customer base and moving on its growth trajectory. After launching instantly approved credit cards and newly-developed e-card, GalaxyCard is aggressively expanding its product portfolio. It is also planning to launch premium credit cards for the upper segment customers in the less than 30k per month income bracket by February. Additionally, it is also exploring credit card options for students to make them manage their education expenses and learn financial management from an early age.

Paytm launches instant personal loans, to offer credit to 1 mn customers

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Digital financial services platform Paytm has introduced instant personal loans on its platform to facilitate access to credit services to the masses. The service can be availed 24×7, round the year even on public holidays and weekends.

Paytm is the technology and distribution partner for NBFCs and would help them expand the reach and adoption of loan services to salaried individuals, small business owners and professionals. The loans would be processed and disbursed by NBFCs and banks. This move will bring ‘new to credit’ customers into the ambit of the formal financial market, and will also empower individuals from small cities and towns who do not have access to traditional banking institutions.

Paytm has digitised the entire process for loan application and disbursal with no physical documentation requirement. This unique service proposition is built on Paytm’s cutting-edge tech platform which enables banks and NBFCs to process loans end to end in less than 2 minutes. It comes with a flexible repayment tenure of 18-36 months and EMI is determined accordingly. The eligible customers can avail of the service through the ‘Personal Loan’ tab under the Financial Services section and can manage their loan account directly from their Paytm app.

The company has partnered with various NBFCs and banks to facilitate this service. During the beta phase, Paytm disbursed personal loans to over 400 selected customers. The company is now aiming for over 1 million users by fiscal year-end to avail the personal loan services from the platform.

Bhavesh Gupta, CEO – Paytm Lending, said, “We aim to make Instant Personal Loans accessible to the self-employed, new to credit individuals and young professionals who need short to medium term personal loans to manage urgent expenses so that lack of resources does not come in their way to fulfill dreams and ambitions. Our aim is to become a growth enabler for India’s aspiring youth and young professionals to help them become self-reliant. We will continue to innovate and digitise as many services that help in bringing ‘new to credit’ users into the formal economy.”

Recently, the company has expanded its Paytm Postpaid service to a large set of use-cases such as payments at neighbourhood Kirana and at popular retail destinations. Additionally, it has also been extended to various bill payments facilities available on Paytm, shopping on Paytm Mall, and online payments at internet apps such as Domino’s, Tata Sky, Pepperfry, HungerBox, Patanjali, Spencer’s among others.

C Ahead Digital partners Asana, a SaaS-based mobile and web application

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IT firm C Ahead Digital has collaborated with Asana, a work and project management solution for modern teams. Asana is a work management tool which helps to manage tasks, team projects and company objectives with any problem.

This association will support C Ahead Digital’s clientele across India, the US, the UK, South Africa, UAE and Australia making it easier for the organizations to manage the work with Asana by providing them access to local expertise and support. Meanwhile, C Ahead Digital will be providing Asana with license subscriptions, on-boarding services, use cases for Asana and end-user support and advisory.

Ben Crow, Revenue Partnerships Manager EMEA, Asana, said, “As Asana continues to expand globally and we introduce our industry-leading work management platform to teams around the world, we have seen an increase in the demand for local Asana expertise and on-boarding services increase in regions across India, the US, the UK, South Africa, UAE and Australia. We’re proud to partner with C Ahead Digital in meeting the growing demands of businesses and teams in these markets, and are excited to join together in serving our customers throughout the region.”

Sandeep Sekhar, Chairman and Global CEO, C Ahead Digital, said, “C Ahead Digital is delighted to have partnered with Asana to offer our joint strength to clients in the regions of US, UK, South Africa, Middle East and India. Asana is an outstanding platform capable of helping teams with effective work management for projects and tasks with seamless collaboration.”

C Ahead Digital works with various global software service providers, SaaS players for its clients in developing and executing APIs to enable an instant and fast response to constantly shifting business needs, applications and business models.

Warburg Pincus invests $100 million in boAt

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Popular audio brand boAt has raised approximately $100 million from an affiliate of Warburg Pincus, a leading global private equity fund focused on growth investing. This investment is a landmark deal for the direct-to-consumer (D2C) industry in India as it endorses the sector’s coming of age with consumers trusting and gravitating towards brands launched online.

boAt is the No.1 brand in personal audio in India (headphones, earphones, sound-related accessories) with a rapidly emerging presence in adjacent consumer-focused, lifestyle electronics categories. Its product portfolio offers well-designed, distinctive products at attractive price points. boAt continues to achieve rapid revenue growth (100%+ over the past several years) and exhibits a strong profitability profile.

As a digitally native brand in India, boAt has consistently been breaking barriers in a sector traditionally dominated by established global brands, placing Indian brands on the global map. In addition to solidifying its position in the Indian market as the No. 1 player, boAt has also emerged as the fifth largest wearable brand globally, according to IDC data.

 

The investment by Warburg Pincus will enable the company to further fortify its leading market position, widen its R&D capabilities and product portfolio, and build on boAt’s efforts to create and support a manufacturing ecosystem under the Make-in-India initiative, enabling the manufacture of products in India.

Aman Gupta, Co-Founder, boAt, said, “We welcome Warburg Pincus as a new investor into the company. This is a vote of confidence for our business model and growth prospects. The investment is great news for not only the company but for the entire D2C sector. The investment has come at the right time as we make efforts to ramp up our manufacturing and global supply chain.”

Sameer Mehta, Co-Founder, boAt, said, “As boAt enters the next phase of growth and innovation, we look forward to benefitting from Warburg’s pedigree, collective experience and resources in helping us scale. Going forward, with the government’s support, we will focus on building capabilities in domestic R&D and undertake vertical integration across both the hearable and wearable space to establish India as a global supplier.”

Vishal Mahadevia, Managing Director and Head, Warburg Pincus India, said, “We see a compelling growth story in boAt and believe the company is well-poised to build upon the strong leadership position it has carved out within the industry and stands to benefit from the secular tailwinds of e-commerce growth in India. Warburg Pincus is excited to partner with the management team of boAt led by Aman and Sameer in this journey and we look forward to supporting them through the next phase of the company’s growth.”

Avendus Capital acted as the exclusive financial advisor to boAt and its shareholders on the transaction.

China’s Alibaba to shut down Xiami music app next month

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Alibaba Group will close its music streaming platform Xiami Music next month, in a move that marks a step back from its ambitions to push into China’s entertainment industry.

According to some media reports, due to operational adjustments, the company will stop the service of Xiami Music by Feb 5.

Alibaba acquired the music service in 2013 and invested millions of yuan to compete in China’s online music market, which is dominated by Tencent Holdings. Its efforts however have not paid off and the app currently only has 2% of China’s music streaming market, behind KuGou Music, QQ Music, KuWo, and NetEase Cloud Music, according to Beijing-headquartered data intelligence company TalkingData.

Xiami’s closure also comes after Chinese regulators announced that they had launched an antitrust investigation into Alibaba, which beyond its core e-commerce business also operates in sectors such as financial services, cloud computing, and artificial intelligence.

However, it does not mark the end of Alibaba’s participation in the online streaming market. In September 2019, Alibaba invested $700 million in one of Xiami’s competitors, NetEase Cloud Music.

Akamai partners with MX Player to deliver seamless viewing experience to users in India

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MX Player has partnered with Akamai Technologies, the intelligent edge platform for securing and delivering digital experiences, to provide its increasing user base in India with seamless digital experience.

Earlier in the year, MX Player was ranked by App Annie as the No. #1 streaming app in India and the onset of the pandemic saw the platform witness not just a massive boost in viewership, but also new subscribers, and a newer audience. This accelerated growth heightened MX Player’s need for infrastructure that could support the scale and availability of the app across different networks and locations.

MX Player found Akamai’s world class media delivery solution to be the right choice in order to deliver a high-quality viewing experience to their customers across different cities. The enhancement in performance and user experience was particularly pronounced in the case of MX TakaTak, a popular short video platform, that has seen a rapid surge of users, with a large portion of them coming from tier II and tier III towns.

According to Redseer, the online content consumption in India grew by 35% in April 2020 compared to January 2020. It further stated that short-form video content consumption recorded the most significant jump during the lockdown.

Vivek Jain, Chief Operating Officer, MX Player said, “In the last couple of months, our user base has increased exponentially. The demand to consume content on the go and the need for virtual entertainment amongst the middle, mass, mobile, millennial audience in India is growing faster than ever before. MX Player has seen more than 7x jump in time spent on the app. Even MX TakaTak, which we recently launched, crossed 1Bn video views per day within a month from launch and has quickly become the market leading app in the short video category. We have always obsessed about best-in-class video load times. Akamai is a pioneer in Edge distribution and its presence particularly in tier II and tier III towns has helped us deliver an unmatched viewing experience for our customers across India’s mega cities as well as the hinterlands.”

Mitesh Jain, India Sales Head, Media & Carrier Division of Akamai said, “Unprecedented demand for content coupled with rapidly evolving user behavior poses a challenge for apps trying to ensure high-quality viewing experience across a complex network topology. We are glad to have partnered with MX Player to help them scale the user base and step up to conform with user expectations of evolving Indian consumers. Given MX player’s ambition, I am sure that this is just a start and we will be accomplishing many more milestones together.”

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