RuPay credit cards are seeing a growth in usage after linking with UPI, with its issuance at 30%, up from a mere 5% in 2022-23. The shift towards UPI-based credit cards on third-party apps like Google Pay and PhonePe poses a challenge for banks, raising concerns about customer retention and cross-selling. Fintech startup Fibe, led by Ashish Goyal, foresees a potential share struggle among top UPI apps.
New Investors leading the round include TR Capital, Trifecta Capital and Amara Partners with existing investors TPG Rise Fund, Norwest Ventures Partners, Eight Roads Ventures and Chiratae Ventures also participating
Fintech firm Fibe raises $90 million in Series E round financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.
Happy Thursday! While layoffs continue, startups are strategically refilling certain open positions with lower-salaried junior staff to cut costs. This in todays ETtech Morning Dispatch.