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M2P Fintech acquires Bengaluru-based cloud lending platform Finflux

Chennai-headquartered M2P Fintech acquired Bengaluru-based cloud lending platform Finflux, which will enable M2P Fintech to accelerate the adoption of next-generation digitisation, workflow automation, and rollout cutting-edge lending products that are secure, scalable, and cloud-ready.  

Finflux’s cloud lending platform offers loan origination, loan management, co-lending, Buy Now Pay Later (BNPL), marketplace integration, app-based lending, alternative data-based credit scoring, and analytics features.

With over 60 global customers from across 15 countries, which includes fintechs, NBFCs, microfinance, savings and credit co-operative societies (SACCOs), banks, financial institutions, etc., Finflux serves more than 12 million borrowers.  

Madhusudanan R, Co-founder of M2P Fintech, said, “With Finflux and the formidable team led by Nayan, we found a match to cater to the burgeoning and fast-evolving digital lending ecosystem across banks, NBFCs, and fintechs. Our key offerings around BNPL and neo credit products will get a major thrust with Finflux’s platform, and we are embarking on a mission to digitise the lending ecosystem.” 

GAIL to invest in startups operating in petrochemicals, logistics, other areas

Through its startup initiative ‘Pankh’, GAIL (India) plans to invest in Indian startups operating in identified focus areas, including natural gas, petrochemicals, energy, project management, logistics, electric mobility, bio manure marketing, nanomaterials, IoT and data mining, environment, health and social, etc. 

According to stock exchange filings, GAIL has now opened a fresh round for solicitation of investment proposals from startups operating in these focus areas.

Startups interested in equity investment from GAIL can apply on ‘GAIL Pankh’ on the company’s website. The current solicitation round will remain open till July 31, 2022. 

Google launches Startup School India; to enable 10,000 companies in Tier II, III cities

Google launched Startup School India — a Google for Startups initiative — to help entrepreneurs understand the nitty-gritty of the startup ecosystem. The programme aims to organise this knowledge into a structured curriculum and deliver it across a wide footprint.

The nine-week virtual programme will feature fireside chats between Google leaders and collaborators from across the startup ecosystem, spanning fintech, ecommerce (D2C, B2B, and B2C), language, social media and networking, job search, etc.

Aimed at early-stage startup founders with a minimum viable product, the curriculum will feature instructional modules on subjects like shaping an effective product strategy, deep-diving into product user value, road mapping and PRD development, building apps for the ‘Next Billion Users’ in markets like India, driving user acquisition, and more.

IndusInd Bank, MoEngage partner to deliver differentiated digital experience to customers          

IndusInd Bank has partnered with Moengage, an insights-led customer engagement platform, to deliver a ‘Gen Z’ digital banking experience to its customers. The deal will also enable the bank to curate personalised content and recommendations across channels, where customers spend most of their time.

Soumitra Sen, Head – Consumer Banking and Marketing, IndusInd Bank, said, “IndusInd Bank’s engagement with MoEngage is designed to achieve strategic outcomes that support our vision of being the most preferred bank for our customers by providing relevant and personalised financial recommendations.”

Yash Reddy, Chief Business Officer (APAC and EMEA), MoEngage, said, “We are excited to partner with IndusInd Bank and look forward to using our deep banking industry knowledge and digital capabilities to support IndusInd Bank in their ongoing journey to deliver highly personalised and seamless experiences across all digital touchpoints.”

Digital Startup Pitch Night aims to accelerate the digital startup culture in India

Launching a series of pitch events, a Digital Startup Pitch Night (DSPN) will bring together digital startups in an engaging and inspiring environment. 

To be held at The Oberoi, Gurugram, on July 21, DSPM will expose early-stage startups to the wider ecosystem, including angel investors, venture capitalists, HNIs, mentors, technical experts, and policymakers, alongside fellow startup founders.

Several senior leaders from the industry will also attend DSPN to share their thoughts and provide guidance, and network with startups and investors.

A phygital event, DSPN will be hosted locally but broadcast globally. It will allow the participants to pitch to a wider audience, and the organisers are expecting the gathering to reach a local and international viewership of over a million through the live broadcast on social media.

DSPN, which is built on the four pillars of funding, global visibility, brand recognition, and networking, will seek to promote a local culture with a focus on digital startups. 

It will also offer support to the government’s Digital India and Startup India initiatives to help the country attain its 2025 vision of becoming a leading digital economy. 

Additionally, startups will showcase emerging Web 3 technologies that will help drive the Metaverse in the future.