Funding news
Medront raises Rs 1.06 Cr in pre-seed round
User data storage startup Medront raised Rs 1.06 crore in a pre-seed round led by Inflection Point Ventures for product development, growth efforts, user acquisition, onboarding DaaS clients, and miscellaneous expenses, ensuring efficient user acquisition and strong retention.
Medront Datalabs, founded in 2023 by Nitesh Singh and Saurav Suman, empowers its users with control over their data through innovative data pods, offering brands an alternative to the monopolies of the tech giants.
The startup also launched its MVP on the Play Store and has built a comprehensive data pipeline for mining, classifying, and generating insights from diverse sources. With over 20,000 users and 20 data partners, Medront is focused on expanding its user base in India.
Other news
OPEN launches Bharat BillPay for Business
SME-focused fintech startup OPEN launched Bharat Billpay for Business in partnership with NPCI Bharat BillPay Limited (NBBL).
OPEN has become one of the first Indian fintechs to offer Bharat Billpay for Businesses.
Bharat Billpay for Business, created by NBBL, simplifies B2B transactions by connecting ERP systems, accounting software, and banks.
Over 40 lakh businesses using Open Money can now easily generate invoices that are instantly accessible to clients for quick payment. Incoming bills from vendors automatically appear in the payable section, eliminating the need for manual entry or downloads.
PayMate partners with NBBL to launch BBPS-B2B platform
PayMate, a digital B2B payments company, has partnered with NPCI Bharat BillPay Ltd (NBBL) to launch the PayMate BBPS-B2B platform.
The platform aims to standardise and digitise invoicing, payments, and collections across India, connecting 634 lakh MSMEs and 16.6 lakh corporates.
NBBL’s platform addresses the entire invoice lifecycle, offering features like business background checks, real-time invoice tracking, access to multiple financiers, and easy reconciliation for corporate and SME clients.
PayMate is integrating with NBBL to ensure seamless interoperability between different systems, enabling digital ordering and e-invoicing. PayMate customers can connect with multiple lenders for the best financing rates, access a pan-India network of verified businesses, and receive real-time invoice updates.
Cashfree Payments launches Secure ID at Global Fintech Fest
Cashfree Payments, a payment and API banking solutions company, launched its Secure ID solution at Global Fintech Fest.
Secure ID is an end-to-end identity verification and fraud prevention solution, which has crossed over 100 crore verifications and prevented fraud worth over Rs 50 crore.
Using AI and LLMs, Secure ID integrates smoothly into business workflows, enhancing onboarding, user verification, and fraud detection. It offers reliable fraud detection, data-driven risk scoring and monitoring for potential risks in the user’s journey.
Cashfree Payments has unified all its verification services—Aadhaar, PAN, DL, Voter ID, Passport, Face Match, Liveness Detection, GeoLocation, Bank Account, and UPI ID—into the Secure ID suite for improved efficiency.
Kotak Life Insurance, Bajaj Finance, Tata AIG, CRED, BookMyForex, Meesho, and Acko General Insurance are part of the Secure ID portfolio.
NxtWave, NSDC announce tech upskilling initiative
NxtWave, a tech education company, and the National Skill Development Corporation (NSDC) will launch the ‘NxtWave SkillUp India 4.0’ initiative on September 3, which aims to empower over 30 lakh students in India.
The initiative will go beyond traditional learning by conducting employability tests, workshops, and hackathons at 3,000 colleges, impacting millions of students nationwide.
With over 500 companies at job fairs and 1,000+ partners offering jobs, NxtWave connects students directly to the job market. It also offers deserving students free access to premium tech programmes, including a two-year full stack + AI/ML course worth Rs 2 lakh.
(This article will be updated with the latest news throughout the day.)
