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Pop icon Zaeden enters D2C; launches bespoke fragrance brand SOL

Indian pop icon Zaeden launched his bespoke fragrance brand SOL–a unisex perfume line born from the Stories of Life. It is a collaboration between Zaeden, Aesir Perfumes LLP, and talent management firm REPRESENT.

The unisex fragrance brand launched two fragrances–Mystic Voice and Sweet Sea.

Supported by Aesir Perfume’s legacy experience to build top-quality products, the brand makes use of the best and safest chemicals.

Fidelity International opens new office in Bengaluru

Fidelity International, an investment and retirement savings business, said it is expanding its presence in India by opening an office in Bengaluru.

The Bengaluru office will complement its current Gurugram and Mumbai offices to bolster Fidelity International’s strategic presence in the country.

Situated in Manyata Embassy Business Park, the new Fidelity International office has started hiring for the office and will thoughtfully build its local presence over the next year and a half for skills and capabilities across business functions.

It has started welcoming new hires in Bengaluru this July and will also appoint a Bengaluru office head soon, likely to be an internal hire.  

Prozo expands pan India coverage with three new warehouses in Bengaluru, Ludhiana 

Supply chain company Prozo launched three new state-of-the-art warehouses located in Bidadi and Makali in Bengaluru and Ferozpur Road in Ludhiana. These strategically positioned facilities are designed to further optimise and enrich the user experience through their advanced operational capabilities.

The Bidadi warehouse, designed as a built-to-suite (BTS) structure, spans over 45,000 sqft. Makali’s facility covers an area of 29,750 sqft., with a clear height of 25 ft and a running dock. The Ludhiana warehouse, designed specifically for storing electronics and FMED, is spread across a more compact area of 3,700 sqft.

The company currently oversees supply chains for over 100 enterprises, including some of India’s leading ecommerce players. Prozo’s fulfilment network extends to over 30 omnichannel fulfilment centres spread across 12 locations in India, covering a total area of 1.5 million sqft.

Razorpay launches India’s first money-saver export account, saves exporters 50% in bank transfers

Razorpay launched its MoneySaver Export Account to enable Indian exporters to now open a smart account in any country of their choice and receive payments locally via bank transfers on the Razorpay platform.

It claims the product is India’s first smart account to offer 50% savings on international bank transfers for exporters and helps save them from high transfer costs, chargebacks, and payment failures. 

India’s annual exports account for $750 billion. Even if 10% of the overall payments happen via bank transfers, the SWIFT charges alone can accumulate to a staggering $5 billion, the company said.

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SEBI grants online bond platform provider (OBPP) license to Wint Wealth

Wint Wealth has received the online bonds platform provider (OBPP) license from the Securities and Exchange Board of India (SEBI). The license enables the Bengaluru-based company to continue facilitating investments in corporate bonds for retail investors.

In November 2022, SEBI stipulated that online bond platforms selling listed debt securities must acquire a certificate of registration as a stockbroker in the wholesale debt segment under the SEBI (Stockbrokers) Regulations to function as an OBPP. The regulation aims to deepen the secondary debt market by standardising the processes and strengthening the trust of retail investors.

Wint Wealth has empowered close to 50,000 investors, facilitating cumulative investments in corporate bonds worth over Rs 1,000 crore. The company is backed by prominent equity investors, including Eight Roads Ventures, 3one4 Capital, Arkam Ventures, and Blume Ventures, and industry leaders such as Nitin Kamath (Co-founder, Zerodha and Rainmatter Foundation), Kunal Shah (Founder, CRED), Lalit Keshre (Co-founder and CEO, Groww), among others.