We are almost there ...
The Kunal Shah-helmed fintech faces a make-or-break year to get to profitability, or resort to a fundraise fraught with risk.
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It is becoming increasingly clear that the startup ecosystem is stuck with building for the top 3% of Indian society. Now consumption in even this rarefied segment is under pressure.
A crash in lending saw the fintech end the financial year in the red. But its payments business is going strong, and the worst may be over in the loans business.
A breakdown of the recent numbers suggests that the Policybazaar parent may face a slowdown in the years ahead.