r.com, India’s leading financial marketplace with 50 million visits per quarter, has raised US$30 million in a funding round led by Experian, the world’s largest credit rating agency and information Management Company.
Speaking about the investment, Adhil Shetty, CEO, BankBazaar, said, “Experian is a global leader in credit reporting and information management, and we are very excited to have them on board as a part of our investor group which includes Amazon, Sequoia, Eight Roads (Fidelity Growth Partners), and Walden International. There is a natural synergy between the world’s largest information management company and one of the fastest-growing fintech companies. The funds from this round will be used to further strengthen our position as the leader in secure paperless access to loans, cards, and mutual funds. Experian will enable us to accelerate towards our vision of paperless access to all financial products.”Read More: http://www.varindia.com/news/bankbazaar-raises-us30-million-from-investors-group-led-by-experian
A high level meeting was organised in the national capital to understand on how to achieve a US $1 trillion digital economy within four years by creating affordable technology and an inclusive environment. Besides the Union Minister of Law and Justice of India, Shri Ravi Shankar Prasad and Union Minister of State, Ministry of Law and Justice, Shri P P Choudhary, the meeting on building India’s digital economy saw the presence of Indian technology giants and leaders.
There were industry experts like R Chandrashekhar President – Nasscom; Rajan Anandan, VP & Managing Director – Google India; Rishad Premji, Chief Strategy Officer – Wipro; C P Gurnani, MD and CEO- Tech Mahindra; A P Hota, Managing Director & CEO of National Payments Corporation of India; Rajendra S Pawar, Chairman & Co-Founder – NIIT Group, Subho Ray, President – Internet and Mobile Association of India and Kavin Bharti Mittal, CEO – Hike Messenger, among others.
The minister spoke on how the government is committed for deform and perform, by using digital delivery and services like the AADHAR and 2.5 lakh Common Services Centres (CSC) spread across the country. Nearly Rs 1200 crore income has been generated by CSCs. “With this we can definitely achieve the said target, where there is a multi-billion dollar opportunity that exists in areas like IT and IT enabled services, e-commerce, electronics manufacturing, digital payments and cyber security.
While giving a brief of the progress that has been made in the Digital India initiative from the period of May 2014 to June 2017, the Minister said that India became the second largest market for smartphones in the world, with smartphone users rising to 40 crores, mobile phone users to 108 crores and Internet users to 50 crores in 2017. India has also emerged as the 3rd largest start-up eco-system with IT/Technology start-ups dominating the start-up scenario in the country. Nearly 400 new start-ups are coming up every year. The e-commerce market has also seen nearly 100% growth with the figure showing 2.11 Lakh Crore customers shopping online in December 2016. The growth in e-governance transactions has also gone up, with the latest figure from April pointing to 3.5 crore. The growth in Digital Payments has been drastic after demonetization, with Mobile wallet, UPI-based payment, Debit Card, IMPS and Aadhaar enabled Payment System being the top digital payment modes….
See more at: http://www.varindia.com/news/india-to-be-a-1-trillion-digital-economy-in-4-years-ravi-shankar-prasad