The pocket money app is struggling to make money or find investors. Will becoming a neobank help?
Subscribe to read this story
We publish over 500 original, detailed stories every year on startups, corporates, stock markets and economic current affairs.
Limited time offer $125 $99 for 1 year
A breakdown of the recent numbers suggests that the Policybazaar parent may face a slowdown in the years ahead.
The fund seems convinced that technology-led businesses in India are overvalued and not good for making big exits. Instead, what is needed to return large sums of capital are investments in mature companies with a proven track record.
They were the app’s flagship feature until the RBI shut down new deposits into Paytm wallets a year and a half ago.