The Tiger Global-backed startup’s employee benefit expenses increased by 4.6 times to Rs 407.4 crore in FY21 against Rs 88.3 crore in FY20, , according to filings sourced from business intelligence platform Tofler.
After another meeting on Thursday, the industry has decided to seek a six-month extension from the RBI. One fintech founder told us investors are “really spooked”.
Perfora will use the funds to build its team, introduce a range of innovative oral care solutions, strengthen its brand positioning, and expand distribution.
The sector-agnostic fund will invest in pre-seed and seed rounds across consumer internet, healthcare, insurance, financial services, Software as a Service, gaming, and artificial intelligence, a senior executive told ET.
“This is very critical as other RBI guidelines like the one on co-branding cards came in advance, giving time to companies to react. Monday’s note on non-bank prepaid payments instruments (PPIs) is effective immediately,” one of the people involved in the discussion said.
The Softbank Group-backed company, which aims to produce 10 million scooters a year, had moved to the new payment model on May 28. Earlier, customers could only make part payments through four separate windows which opened on specific dates.
In a one-page circular, issued on Monday, RBI had directed all non-bank pre-paid payment instruments (PPIs) to stop loading credit lines onto their products.