PayMate India Pvt. Ltd., India's leading mobile and e-payments company, today announced that it is now processing in excess of $500M in annualized payment processing run rate. This announcement follows PayMate being awarded the "Fastest Growing Solution" by Knowledgefaber Awards for Excellence in Payment Methods and Technologies, held last month in Bangalore.
"Achieving $500M in processing run rate is a major milestone for PayMate. It validates our business focus and comes at a time when we are experiencing tremendous growth" said Mr. Ajay Adiseshann, Founder and Managing Director of PayMate. "We now have our sights set on doubling this number in the coming months".
PayMate offers a full suite of services and solutions for consumers to make payments and transfers, for businesses to accept payments and make business-to-business payments. PayMate solutions cater to both urban and rural users and aim to reduce friction in payments by keeping them simple and convenient, without compromising security or compliance.
PayMate has been experiencing double-digit, month-on-month, growth in its processing business. Its B2B e-payments business has been especially strong. PayMate has also been working closely with National Bank of Agriculture and Rural Development of India (NABARD), to promote greater and easy use of Kisan Credit Cards (KCC) by enabling mobile access of KCC. Now farmers can make payments using their mobile phones and rural merchants can accept payments using their mobile phones.
In a recently published report by Hamburg based market research company yStats.com, it was stated that the Indian online payments market is expected to grow 20+% annually over the next few years*. PayMate's achievement is further evidence of the growing momentum in the India e-payments market and confirms its market leading position to exploit future growth.Read More
Parabo Press is a breeze to use: It’s clean and easy to read, your options are straightforward, and there are no annoying upsells. Prints from its Risograph machine, which uses soy-based ink and is described by Parabo as having “a cult following since its invention in 1980s Japan.”
“We are creating solutions specifically for the Indian rental community. For Aibnb, we are creating a separate set of packages, more attuned towards travellers, which will allow the hosts to pick and choose from these packages and furnish their house,” Ajith Karimpana
The Make in India programme needs design, in order to succeed in its fundamental endeavour. Melorra has integrated design and manufacturing with processes, people working in manufacturing are involved in product design concepts as a result delivery times are almost half those of competitors.
Red Chillies Entertainment partnered with Furlenco for its forthcoming Shah Rukh Khan and Alia Bhatt starrer ‘Dear Zindagi’. Furlenco and Red Chillies have also launched a TVC and an exclusive ‘Dear Zindagi’ store for the movie buffs.
Sub-cultures drive the products that emerge out of tech startups. Sub-cultures push the envelope on thinking about how society might develop. The ones that interest investors are those with the potential to indicate where the world could go next.
It is a combination of 50% equity and 50% debt, making them one of the largest debt funded start-ups in India. While Furlenco plans to utilise the equity component to grow its business into more cities, the debt will be used to purchase inventory.
Droom has clocked a GMV of Rs 104 crore in a short span of 19 months. They have registered over Rs 1,200 crore in annualised GMV, with plans to achieve Rs 3,000 crore by March 2017. The achievement has come despite low marketing spends at 3.75 per cent of the entire GMV.