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Fintech firms face IPO challenges
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Three Indian fintech firms have IPOs coming up soon, but face unique challenges related to their revenue models, foreign ownership, and increased scrutiny from regulators. Will they be able to replicate Zomato’s success?
Also in this letter:
MyGlamm bag Rs 355 crore
Zomato’s IPO success will inspire many
Paytm, Mobikwik, Policybazaar look to raise Rs 28,000 crore
At least three fintech startups are set to launch initial public offerings (IPOs) in the next five months. Paytm, Mobikwik, Policybazaar are likely to raise up to Rs 28,000 crore ($3.7 billion) from the offerings.
Veera Health, a digital health platform for women, raised $3 million in a funding round co-led by Sequoia Capital India’s Surge and Global Founders Capital. The funding round also saw participation from Y Combinator, CloudNine Hospitals’ co-founder Rohit MA, and Tinder India Head Taru Kapoor. Angel investors, participating in the round, included Benjamin Bryant, Ethan Perlstein, Holly Liu, Utsav Somani and Walter Chen. Veera Health is also backed by global tech accelerator Y Combinator. The company’s first product is a digital therapeutics platform that helps women identify and navigate PCOS, with a comprehensive offering of medical care, nutrition therapy, lifestyle coaching and doctor support.
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