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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The investment signals Razorpay’s expansion from core payment infrastructure into consumer payments.
Razorpay has made an investment of $30 million in Bengaluru-based fintech startup POP, acquiring a majority stake in the company. The move expands Razorpay’s presence beyond core payment processing and into consumer loyalty and engagement.
POP operates a UPI-based payments system with built-in rewards, combining payments, e-commerce and credit. Its main feature is a gamified approach using a rewards-currency called POPcoins, which can be earned through transactions and redeemed from various partner merchants. In the year since its launch in 2024, it has scaled to over 600,000 daily UPI transactions, more than a million monthly active users and 40,000 RuPay …
The UAE is looking at its first public listing of the year while Egypt just delivered a big one; OpenAI’s bugging accused has ties to Saudi Arabia; and other updates from the week.
The fintech is gearing up to go public at a $5-6 billion valuation. Much like beauty, value lies in the eyes of the beholder, but public markets are rightly cross at obscene startup valuations.
Billionaire Mohamed Alabbar goes for the Indian Ocean archipelago, India’s PhonePe gets UAE approval, and other updates from the week.
