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Paytm To Offer Foreign Exchange Services And Remittance Soon

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Paytm Offer Foreign Exchange Services And Remittance Soon,Startup Stories,2018 Latest Business News,Startup News India,Paytm New Offers,Paytm Launch Foreign Exchange Services,India Largest Digital Payments Platform,Paytm Foreign Exchange Services,Paytm Business News

India’s largest digital payments platform, Paytm, is set to foray into foreign exchange and cross border payments under its payments bank entity. Paytm is on the road to dominate the Indian digital payments space with its recent entry into wealth management and insurance services as well as entering into cross border commerce among other services. According to reports, Paytm already received the authorized dealership license from the Reserve Bank Of India to offer services of foreign exchange to foreigners traveling in India as well as Indians looking for foreign exchange before embarking on a trip abroad.

The Economic Times reported the newly formed bank is all set to start offering foreign exchange services and going forward, could also enter into cross border remittance services for its customers, as per sources. A Paytm top executive further added, “Having started with payments, Paytm is slowly diversifying into other financial services and foreign exchange conversion will be a starting point and eventually it could also try to venture into cross border payments both outward and inward.

Along with Paytm, Airtel Payments Bank and Jio Payments Bank have also received the license for cross border payments from the Central Bank of India. Fino Payments Bank is the latest bank to join the list of companies taking a step closer towards becoming full service financial entities.

According to fintech company InstaReM the cross border remittance market in India is worth around $ 6 billion to $ 7 billion annually. InstaReM and PayPal are two of the biggest competitors to Paytm in this space. Paytm is also a majority player in the Indian digital payments space which is said to be worth $ 500 billion. The financial services company is backed by the world’s leading conglomerates Alibaba and SoftBank as well.

Launched in 2010, Paytm quickly grew in ranks by offering online services like mobile recharges, utility bill payments, travel, movies and events bookings as well as in store payments with the Paytm QR Code. As of February 2017, the company claims to have 800 million active users, over 13,000 employees and has 3 million offline merchants across India.

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Swiggy Unveils Pyng: AI App Linking Users to Verified Pros

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Swiggy - StartupStories

Swiggy has launched Pyng, a new app aimed at connecting consumers with verified professionals across over 100 specializations, including yoga instructors, financial advisors, tutors, and event planners. Currently live in Bengaluru, Pyng uses AI to match users with trusted experts and offers a money-back guarantee for unsatisfactory services.

The app also provides professionals with tools to manage bookings, track payments, and schedule services efficiently. This marks Swiggy’s entry into the professional services marketplace, expanding beyond its core food delivery and quick commerce businesses. Pyng is available on both iOS and Android, with plans for a nationwide rollout.

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Eat Better Secures ₹17 Crore in Pre-Series A Funding

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Eat Better, a Jaipur-based D2C snacking brand, has raised ₹17 crore in a Pre-Series A funding round co-led by Prath Ventures and Spring Marketing Capital. Founded by Vidushi Kanoria, Mridula Kanoria, and Shaurya Kanoria in 2020, Eat Better specializes in healthy snacks like dry fruit ladoos and nuts.

Key Highlights:

  • Investment Use: Funds will expand Eat Better’s product line and enhance its presence on quick commerce platforms.
  • Market Position: Competes with brands like Happilo and Yoga Bar in the healthy snacking space.
  • Operational Milestones: Fulfills over 2 lakh orders monthly.
  • Financial Performance: Revenue grew nearly threefold to ₹14.47 crore in FY24, with a reduced net loss.

Market Opportunity:

The Indian food and beverages market is projected to reach $68 billion by 2030, positioning Eat Better favorably to capitalize on the demand for healthy snacks. With this funding, Eat Better aims to strengthen its market presence and product offerings.

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Funding

Outzidr Raises ₹30 Crore to Transform Gen Z Fashion

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Bengaluru-based D2C fashion startup Outzidr, co-founded by Nirmal Jain, Mani Kant Mani, and Justin Mario, has secured ₹30 crore in seed funding led by Stellaris Venture Partners, with participation from angel investors like Ramakant Sharma (Livspace) and Ghazal Alagh (Mamaearth).

Launched in February 2025, Outzidr targets Gen Z women aged 17–27 with affordable occasion-specific apparel such as partywear and travel outfits. The brand introduces over 2,000 new designs monthly and uses a “test-and-react” model to scale popular styles based on early sales data. With an agile inventory cycle of less than three weeks, it plans to shift 90% of manufacturing to India within two years for sustainability.

The funds will bolster supply chain efficiency, technology development, team expansion, and brand-building. Outzidr aims to achieve ₹100 crore annualized revenue within 6–8 months through its D2C platform and marketplaces like Myntra, Nykaa Fashion, and AJIO.

Led by industry veterans with expertise in fashion and logistics, Outzidr is poised to capitalize on India’s growing D2C market fueled by Gen Z’s demand for trendy and affordable fashion.

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