China’s central bank said on Friday that all cryptocurrency-related transactions are illegal in the country and they must be banned, citing concerns around national security and “safety of people’s assets.” The world’s most populated nation also said that foreign exchanges are banned from providing services to users in the country. In a joint statement, 10 […]
Amazon assembles video streaming apps to fight with Netflix and Disney in India
Amazon has launched Prime Video Channels in India, allowing its customers to subscribe to eight streaming services including Discovery+ and Mubi from one hub (Prime Video website or app), the latest in a series of efforts by the U.S. giant to win customers in the South Asian nation. The new offering makes it easier for […]
India’s Oyo to file for $1 billion IPO
Indian budget hotel chain startup Oyo is looking to file for an initial public offering as soon as next week, people familiar with the matter told TechCrunch, joining a handful of firms in the world’s second-largest market that are working to explore the public markets. The seven-year-old startup, founded by 27-year-old Ritesh Agarwal, is planning […]
Fintech startup Tag valued at $100 million in Pakistan’s largest seed round
Tag, a one-year-old startup that offers banking and financial services to users in Pakistan, has raised over $12 million in what is now the largest seed financing round in the South Asian market. Liberty City Ventures, Canaan Partners, Addition, Mantis and Banana Capital and others financed the round, which brings YC-backed Tag’s to-date raise to […]
Indian buy now, pay later startup ZestMoney raises $50 million from Australia’s Zip
ZestMoney, a Bangalore-based buy now, pay later platform, said on Wednesday it has raised $50 million in a new financing round from Australia’s Zip as the Indian firm looks to double down on a trend that has shown early signs of traction in several global markets. The eight-year-old Australian firm, which has a presence in […]
Netflix launches free plan in Kenya to boost growth
Netflix said on Monday it is launching a free mobile plan in Kenya as the global streaming giant looks to tap the East African nation that is home to over 20 million internet users. The free plan, which will be rolled out to all users in Kenya in the coming weeks, won’t require them to […]
Salesforce backs Indian payments startup Razorpay
Six-year-old Bangalore-based fintech Razorpay, which was valued at $3 billion in a financing round in April this year, has courted one more high-profile investor: Salesforce Ventures. Razorpay said on Monday it has received a “strategic investment” from the venture arm of the American enterprise giant. The investment will help the startup “further strengthen its presence […]
Amazon bets on Hindi voice shopping to reach wider India
Speaking of Amazon — which is reportedly conducting an investigation to find whether its lawyers bribed government officials in India — the company announced today it plans to roll out the voice shopping experience feature in the Hindi language in the South Asian market ahead of the Diwali festival in early November. The e-commerce giant, […]
Amazon starts probe over bribe to gov’t officials by its lawyers in India, report says
Amazon has launched an investigation into the conduct of its legal representatives in India following a complaint from a whistleblower who alleged that one or more of the company’s reps had bribed government officials, Indian news and analysis outlet the Morning Context reported on Monday. The company is investigating whether legal fees financed by it […]
FloBiz raises $31 million to scale its neobank for small businesses in India
FloBiz, an Indian startup that is building a neobank for small- and medium-sized businesses in the South Asian market, said on Monday it has raised $31 million in a new financing round as it works to broaden its product offerings. Sequoia Capital India and Think Investments co-led the 18-month-old startup’s Series B financing round. Existing […]