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Flipkart To Start Selling Insurance Products

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Flipkart To Start Selling Insurance Products,Startup Stories,2017 Business News Updates,Flipkart Start Selling Insurance Products,Flipkart Insurance Products Services,Flipkart Business News,Flipkart Insurance Services,Flipkart Financial Marketplace,Flipkart Life and Health Insurance,Flipkart Launch Insurance Products Coming Soon

Flipkart, India’s largest ecommerce startup, will start selling insurance products on its platform including general, life and health insurance. According to filings with the Registrar of Companies, the ecommerce firm will also venture into other categories such as motor insurance later.

In the filings, the company stated, “The company intends to venture into the new line of business viz., solicitation and servicing of insurance policies by acting as a Corporate Agent. In this regard, the company is required to alter its objects clause in order to align its main objects clause in line with the new line of business the company proposes to undertake.”

However, Flipkart can launch this product only after obtaining regulatory approval from the Insurance Regulatory and Development Authority (IRDA.) Under IRDA’s regulations, Flipkart can partner with three other insurers under each of insurance category to facilitate and provide end to end transactions. The exact time of the launch, however, cannot be specified as it is not clear whether the company has already obtained the regulatory approval.

Flipkart’s intentions to venture into financial services marketplace was first revealed in June this year. The insurance industry of India has seen tremendous growth in the last few years. According to sources, the company was also in talks with a slew of digital lending startups with the hope to add a new revenue generating business to its suite of offerings.

The company is leaving no stones unturned to capture the highest position in the Indian ecommerce market. Flipkart also received a $ 4 billion war chest from SoftBank, Microsoft, Tencent and eBay earlier this year. The investments and backing by some of the biggest venture capital firms has given the ecommerce company the space to look into investing in other IoT areas. For this purpose, Flipkart even relaunched its grocery offering service Supermart and initiated discussions with vertical ecommerce players like Swiggy, BookmyShow, Urbanclap, Urban Ladder and Pepperfry.

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Blissclub Raises INR 33 Crore in Fresh Funding Months After Layoffs

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Blissclub, the women-centric D2C apparel brand, has raised INR 33 crore in a Pre-Series B funding round led by Elevation Capital, with Eight Roads Ventures also participating. This funding comes just three months after the company laid off 18% of its workforce-about 21 employees from creative, sales, marketing, growth, and product teams-due to high cash burn and challenges in securing new capital.

The latest investment was made through the allotment of 16,076 compulsory convertible preference shares (CCPS) at a premium of INR 20,428 each. Elevation Capital invested INR 19 crore, securing a 24.5% stake, while Eight Roads Ventures contributed INR 14 crore, raising its stake to 15.79%. The capital will be used for working capital, capital expenditure, and general corporate purposes.

Founded in 2020 by Minu Margeret, Blissclub started as an online activewear brand for women and has since diversified its product range and established offline stores. Despite recent restructuring, the company’s revenue grew 27% to INR 86.9 crore in FY24 from INR 68.3 crore in FY23, though net losses also increased to INR 43.9 crore.

Blissclub’s successful fundraising, despite recent layoffs, underscores both the ongoing challenges and the resilience of India’s D2C startup sector in a difficult funding environment.

 

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Apple to Shift Entire US iPhone Assembly to India by 2026

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Apple is set to relocate all assembly of iPhones destined for the US market from China to India by the end of 2026, marking its biggest manufacturing shift in decades. The move is driven by escalating US-China trade tensions and steep tariffs—up to 145% on Chinese imports—making Chinese assembly increasingly costly for Apple. Although some smartphone imports are temporarily exempt, a 20% duty still applies to Chinese-made iPhones entering the US.

 

India, in contrast, offers a more favorable trade environment, with a paused 26% reciprocal tariff and ongoing negotiations for a bilateral trade deal with the US that could shield Indian exports from future levies. Apple plans to more than double its current iPhone output in India, aiming to assemble over 60 million units annually for the US market. The company already produces about 25% of its global iPhones in India, working with partners like Foxconn, Tata Electronics, and Pegatron.

 

This shift is part of Apple’s broader strategy to diversify its supply chain and reduce reliance on China amid geopolitical risks. However, the transition’s success will depend on how quickly India can scale up its manufacturing capabilities and the outcome of ongoing trade negotiations.


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PhonePe’s PINCODE Launches 10-Minute Medicine Delivery in Cities

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PhonePe’s PINCODE app has launched a 24×7 online medicine delivery service in Bangalore, Mumbai, and Pune, promising delivery of both prescription and over-the-counter medicines within 10 minutes from nearby local medical shops. Unlike conventional e-pharmacies that use dark stores, PINCODE partners exclusively with neighborhood pharmacies, enabling faster deliveries and supporting local businesses in the digital economy.

Customers without prescriptions can select a “no prescription” option when ordering; a qualified doctor then provides a free teleconsultation and issues a digital prescription compliant with telemedicine guidelines, ensuring seamless access to medicines. The app offers competitive pricing by passing discounts from local pharmacies directly to customers and charges no delivery fees.

PINCODE’s hyperlocal model enhances healthcare accessibility and convenience while empowering local pharmacies, helping them remain integral to their communities and stimulating local economic growth. Launched in 2023, the app focuses on quick commerce with an emphasis on speed, reliability, and supporting local sellers.

In summary, PhonePe’s PINCODE app is transforming medicine delivery in major Indian cities by combining ultra-fast 10-minute delivery, free doctor consultations, and a hyperlocal sourcing model that benefits both consumers and neighborhood pharmacies.

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