News
Navi Surpasses Cred to Become Fourth Largest UPI App in India!
Sachin Bansal’s fintech platform Navi has emerged as the fourth largest UPI app in India, overtaking Kunal Shah-led Cred. According to data from the National Payments Corporation of India (NPCI), Navi witnessed a significant 31% month-on-month growth in October, registering 158 million transactions compared to 120 million in September.
Market Dynamics
Despite Navi’s impressive growth, Cred also saw an increase in transactions, growing from 140 million in September to 152 million in October. However, Navi’s expansion came even as it scaled back its cashback and incentive programs, demonstrating its ability to attract users through its core offerings.
UPI Market Leaders
The UPI market continues to be dominated by:
- PhonePe: 48% market share
- Google Pay: 37% market share
- Paytm: 7% market share
Both Navi and Cred now account for approximately 1% of the UPI market each. Additionally, Flipkart Group’s super.money app has shown rapid growth, doubling its transaction count to 50 million in October and achieving a 0.3% market share.
Impact of Festive Sales
The festive season contributed to an overall 11% increase in UPI transaction volumes and a 14% rise in transaction value during October. This surge highlights the seasonal boost that often accompanies major shopping events in India.
Navi’s Unique Offerings
Unlike many UPI and fintech apps, Navi operates as a manufacturer of financial products. It offers a range of services including:
- Personal loans
- Home loans
- Mutual funds
- Insurance
- Digital gold
This approach distinguishes Navi from competitors who typically act as third-party distributors of financial products.
Resilience Amid Regulatory Challenges
In October, the Reserve Bank of India (RBI) directed Navi Finserv and three other non-banking financial companies (NBFCs) to halt lending practices due to concerns over high interest rates and hidden charges. Notably, this directive did not impact Navi’s UPI operations, allowing it to continue expanding its user base.
Challenges in Market Regulation
The NPCI has faced challenges in implementing a proposed 30% market share cap for UPI apps, aimed at preventing concentration risk within the ecosystem. Currently, PhonePe and Google Pay collectively account for about 85% of UPI transactions, highlighting the dominance of these two players.
NPCI’s Strategic Moves
To foster competition, NPCI has spun off its BHIM app into a separate entity and appointed veteran banker Lalitha Nataraj as its CEO. However, despite these efforts, BHIM has not seen significant growth in transaction volumes this financial year.
Future Prospects
As tier-two UPI apps like Navi and super.money gain traction, competition in India’s UPI ecosystem is intensifying. With plans to introduce innovative credit products—such as RuPay credit cards on UPI—emerging players are poised to disrupt the market further. Meanwhile, the dominance of leading apps remains a challenge for regulators aiming to promote a more balanced ecosystem.
Conclusion
Navi’s rise to become the fourth-largest UPI app marks a significant milestone in India’s digital payment landscape. By leveraging its unique business model and navigating regulatory challenges effectively, Navi is positioned for continued growth. As competition heats up among fintech players, the evolution of the UPI ecosystem will be crucial for enhancing financial inclusion across India.
Bengaluru, January 13, 2026 Dazzl, the D2C beauty startup revolutionizing AI personalized skincare India, secured $3.2 million in seed funding led by OYO founder Ritesh Agarwal’s venture arm. Co-investors include Snapdeal’s Rohit Bansal and Fireside Ventures, valuing Dazzl at $15 million post-money. Founded in 2024 by IIT alumni Priya Singh and Arjun Mehta, the app uses smartphone scans for custom serums, boasting 50,000+ users and ₹5 crore ARR amid India’s $25 billion beauty market surge.
Ritesh Agarwal praised Dazzl’s tech: “Personalization is beauty’s future, like OYO’s guest model.” Funds target R&D for 100+ skin profiles, Gujarat manufacturing under PLI, Instagram/Nykaa campaigns, and 50 hires. In a 20% YoY growing sector (Redseer 2025), Dazzl edges Mamaearth and Plum with 95% AI precision, 90% natural formulas, ₹499 kits, 65% retention (vs. 40% avg), and viral TikTok traction in 10 cities.
D2C beauty startup Dazzl tackles regulations via FSSAI compliance, eyeing $10B e-commerce beauty by 2028 and MENA exports. Q2 haircare launches and Series A loom, with Agarwal’s backing signaling unicorn potential for sustainable beauty products India. Dazzl blends AI with clean beauty for 500M+ consumers.
Google has launched the Google Startup Hub Hyderabad, a major step in strengthening India’s dynamic startup ecosystem. This new initiative aims to empower entrepreneurs, innovators, and developers by giving them access to Google’s global expertise, mentoring programs, and advanced cloud technology. The hub reflects Google’s mission to fuel India’s digital transformation and promote innovation through the Google for Startups program.
Located in the heart of one of India’s top tech cities, the Google Startup Hub in Hyderabad will host mentorship sessions, training workshops, and networking events designed for early-stage startups. Founders will receive Google Cloud credits, expert guidance in AI, product development, and business scaling, and opportunities to collaborate with Google’s global mentors and investors. This ecosystem aims to help Indian startups grow faster and compete globally.
With Hyderabad already home to tech giants like Google, Microsoft, and Amazon, the launch of the Google Startup Hub Hyderabad further cements the city’s position as a leading innovation and technology hub in India. Backed by a strong talent pool and robust infrastructure, this hub is set to become a growth engine for next-generation startups, driving innovation from India to global markets.
BMW quietly debuted its new logo on the all-electric iX3, marking a significant yet understated shift in the brand’s design direction for 2025. The updated emblem retains the classic roundel and Bavarian blue-and-white colors, but sharp-eyed enthusiasts noticed subtle refinements: the inner chrome ring has been removed, dividing lines between blue and white are gone, and the logo now features a contemporary satin matte black background with slimmer “BMW” lettering. These enhancements showcase BMW’s embrace of modern minimalism while reinforcing their commitment to premium aesthetics and the innovative Neue Klasse philosophy for future electric vehicles.
Unlike rival automakers that reveal dramatic logo changes, BMW’s refresh is evolutionary and respectful of tradition. The new badge ditches decorative chrome and blue borders associated with earlier electric models, resulting in a flatter, more digital-friendly design that mirrors recent branding seen in BMW’s digital communications. Appearing first on the iX3’s nose, steering wheel, and hub caps, this updated identity will gradually be adopted across all BMW models—both electric and combustion—signaling a unified brand language for years to come.
BMW’s strategic logo update represents more than just aesthetic reinvention—it underscores the brand’s dedication to future-ready mobility, design continuity, and a premium EV experience. As the new roundel begins rolling out on upcoming BMW vehicles, it stands as a testament to the automaker’s depth of detail and thoughtful evolution, offering subtle distinction for keen observers and affirming BMW’s iconic status in the ever-changing automotive landscape.
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