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PolicyBazaar appoints former Oriental Insurance GM Ajit Kumar to advisory board

PolicyBazaar has appointed former General Manager of Oriental Insurance Co. Ltd Ajit Kumar to the business vertical‘s advisory board.

Kumar has over 37 years of experience in the insurance sector. In his new role, Kumar will work with the existing team to enhance insurance services offered to startups, SMEs and corporates. He will focus on guiding them on critical processes and technical aspects to assess their risks while also providing specialised guidance on the products needed to safeguard against any financial loss, the company said in a statement.

Fintech startup Kiwi partners with Axis Bank for credit on UPI service on RuPay

Mumbai-based fintech startup Kiwi has joined hands with Axis Bank to offer ‘credit on UPI’ service on RuPay credit cards, claiming to be the first app in India to launch this service.

This partnership enables Kiwi users to seamlessly access the RuPay lifetime free virtual Axis Bank KWIK credit card through the app, it said in a statement.

Users can make merchant payments within the Kiwi app using their credit cards via UPI, eliminating the need for physical cards. With this partnership, customers can enjoy the benefits of credit card rewards, while experiencing the convenience of UPI’s fast and secure payment, it added.

Other product features include UPI-enabled free virtual credit card, two edge rewards per Rs. 200 spent, 1% cash back on Scan & Pay Transactions (using CC on UPI) powered by “Kiwi” and 1% fuel surcharge waiver.

Digital lending platform LoanTap opens new office in Delhi-NCR

Digital lending startup LoanTap on Wednesday opened a new office in Delhi-NCR following the acquisition of financial services firm Unofin.

The new establishment will further facilitate streamlined operations, personalised services, and efficient support to customers across Delhi, Gurgaon, Noida, and the surrounding areas, it said in a statement.

“The expansion into the North Indian market represents a golden opportunity for us to engage with a diverse range of clients and cater to their unique financial needs,” Satyam Kumar, CEO and Co-founder of LoanTap, said.

Space data application firm SatSure invests in Astrogate Labs

Earth Observation (EO) space data application firm SatSure has made an undisclosed strategic investment in Astrogate Labs, a space technology company developing laser communication solutions for small satellites.

The partnership marks a pivotal step in bolstering SatSure’s subsidiary, KaleidEO, in the upstream sector, by harnessing the capabilities of Astrogate’s laser communications system, Astro-Link, with an impressive satellite-to-ground communications speed of 1 Gbps, it said in a statement.

The collaboration with Astrogate Labs will KaleidEO’s upcoming mission, featuring a fleet of four optical microsatellites with a swath of 65 km and near-meter ground resolution. Astrogate’s solution in data transfer will enable seamless and high-speed communication between the satellite fleet and the ground station. Astrogate’s terminal will be integrated with KaleidEO’s optical payload in its upcoming mission to further enhance the efficiency of the mission, it added.