Infibeam Avenues Limited is set to launch a new payment app, RediffPay, which will place the company in direct competition with popular platforms like PhonePe, Google Pay, Paytm, and MobiKwik. Sources told Entrackr that this move will mark Infibeam Avenues’ entry into the growing Unified Payments Interface (UPI) market. Infibeam’s Acquisition of Rediff.com Last month, Infibeam Avenues acquired a 54% stake in Rediff.com India. This acquisition highlights Infibeam’s strategy to transform Rediff.com into a consumer-facing digital financial services platform. Rediff.com, an established name in the digital space, will serve as the foundation for RediffPay’s launch. The relaunch of Rediff.com will

Edtech company Physics Wallah (PW) has raised a whopping $210 million in its latest Series B funding round. This investment was led by Hornbill Capital, with participation from well-known investors like Lightspeed Venture Partners, GSV, and WestBridge. With this fresh round of funding, Physics Wallah’s post-money valuation has skyrocketed to $2.8 billion, more than double its previous valuation of $1.1 billion from its Series A round. During that earlier round, the company had raised $100 million. The company has big plans for this new funding. According to a press release, Physics Wallah will use the money to scale operations and

*Aye Finance, a platform that provides loans to small businesses, has raised *₹250 crore ($30 million)* in a *Series G funding round. This round was led by *ABC Impact, a Singapore-based investment firm. *British International Investment (BII), the UK’s development finance institution, also participated in this round. BII had previously led Aye’s Series F round in *December 2023, raising *₹310 crore ($37 million)*. Earlier, in June 2024, Aye Finance also raised *$30 million through debt. This new investment comes from *ABC Impact’s Fund II, which now manages over *$850 million** in assets. However, the deal will be completed once certain

GrayQuest, a Mumbai-based fintech startup focused on education loans, is raising ₹53 crore ($6 million) in a Series B funding round. The round is co-led by Pravega Fund and IIFL Fintech Fund, both investing ₹21.5 crore each. Additionally, GrayQuest’s founder, Rishab Sumer Mehta, is contributing ₹10.56 crore worth of shares. Some of the shares allotted to Mehta are partly paid, meaning the remaining payment will be made when the board decides. Where Will the Money Go? GrayQuest plans to use the new funds to meet its financial needs and expand its operations. The company’s filings show that they are focusing

Bookmybai, a platform that connects families with domestic help, has raised Rs 2 crore in a pre-Series A funding round. The round was led by Inflection Point Ventures, a well-known investment group. This new funding will help Bookmybai grow its services and reach more locations, making it easier for families to find reliable help. Expanding Services The money raised will be used to expand the company’s services to new cities and areas. Bookmybai aims to add 50,000 new housemaids to its already large network. This will make the process faster and more efficient for families looking for long-term, trustworthy help.

Everest Fleet, a mobility startup based in Mumbai, has raised Rs 251.7 crore (approximately $30 million) in its Series C funding round. This investment was led by global ride-hailing giant Uber, marking Uber’s second investment in the company. Everest Fleet operates a fleet of cabs, primarily for Uber in India. Details of the Funding Round According to a regulatory filing accessed from the Registrar of Companies (RoC), Everest Fleet raised the funds by issuing 13,726 Series C preference shares. After this round of funding, the company has been valued at around $425 million, according to TheKredible, a startup data intelligence