Latest News | Business Briefs Khatabook Aims to Turn Profitable in 18-20 Months
Get latest articles and stories on Latest News at LatestLY. Fintech firm Khatabook said it has started a platform monetisation strategy and aims to turn profitable in the next 18-20 months.
Mumbai, Oct 18 (PTI) Fintech firm Khatabook said it has started a platform monetisation strategy and aims to turn profitable in the next 18-20 months.
At present, the startup, which was valued at USD 600 million in August 2021, has an annualised gross revenue of Rs 70 crore, as per a statement.
Also Read | Adani Defence Systems and Technologies To Acquire Air Works for Rs 400 Crore.
*** RBL Bank appoints Alok Rastogi as corporate centre head * Private sector lender RBL Bank on Tuesday appointed Alok Rastogi as the head of its corporate centre.
Rastogi will be a member of the bank's managing committee and lead the operations and client services unit of the lender, a statement said.
*** Sidbi ties up with IIM Sambalpur * State-owned Sidbi on Tuesday said it has tied up with IIM Sambalpur to fuel entrepreneurship among small weavers and craftsmen.
Several interventions will be undertaken under the partnership focused on strengthening the supply-chains, helping clusters become self-sustainable and developing a culture of entrepreneurship, according to a statement.
*** Mahindra and Mahindra Financial Services ties up with India Post Payments Bank * Mahindra and Mahindra Financial Services on Tuesday said India Post Payments Bank will help it source lending opportunities.
The payments bank will generate leads for auto, three-wheeler, tractor and commercial vehicle loans, a statement said.
*** Samsung rolls out captive finance arm * Largest consumer electronics brand Samsung has launched a new digital lending programme to finance its consumers this festive season.
Called Samsung Finance+, this initiative aims to drive financial inclusion and strengthen the Korean major's business this festival season by offering easy access to credit and to buy its consumer electronics like TVs, soundbars, refrigerators, washing machines, microwaves, and air conditioners, the company said in a statement.
The loan will be sanctioned within 20 minutes, it added.
The new facility will be available at around 3,000 consumer electronics stores across 1,200 cities. It plans to take this to more than 5,000 retail outlets in around 1,500 cities by the end of 2022.
*** Waterfield Advisors appoints Nakul Beri as senior MD * Waterfield Advisors, which claims to be the largest multi-family office and wealth advisory firm, has appointed Nakul Beri as its senior managing director for global client origination and coverage.
Beri, who comes from Incred Wealth and had previously worked with Standard Chartered Bank Singapore and Barclays Wealth among others, will lead and build the firm's global wealth segment.
Beri has over 26 years of experience across the wealth management spectrum having started off in investment and corporate banking, and wholesale/institutional banking.
Soumya Rajan, founder and chief executive of Waterfield, said it has seen significant interest from NRIs and large family offices outside to access India's promising investment opportunities.
To tap this opportunity, the company has also tied up with Zephyr Management.
Established in 2011, Waterfield is a multi-family office and wealth advisory firm, and currently advises on over USD 4.3 billion in assets.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)