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Business Standard
17-06-2025
- Business
- Business Standard
Fintech POP raises $30 mn from Razorpay to build loyalty-first model
Consumer payments application POP raised $30 million from business-to-business (B2B) fintech Razorpay on Thursday, a year after the company launched its operations on India's real-time payments system, Unified Payments Interface (UPI). The investment will enable Razorpay to expand its presence in the business-to-consumer (B2C) segment. POP has previously raised funding from investors including India Quotient, Unilever Ventures, Incubate Fund and NuVentures. Since the year of its launch, the fintech firm has clocked over 6 lakh daily UPI transactions, crossed 1 million unique monthly active transactors and executed over two lakh monthly commerce shipments. It claims to have more than 40,000 RuPay credit cards in a co-branded partnership with Yes Bank. 'India doesn't need another cashback-only rewards app. What we need is a new rewards economy built on a long-term purpose. POPcoins are designed to build habits, increase retention and reduce CAC (customer acquisition cost) for merchants — all while making payments more rewarding for the end user,' said Bhargav Errangi, Founder, POP. He added that the company will double down on a loyalty-first payments ecosystem after Razorpay's investment. In May, the company clocked 13.5 million UPI transactions. It is ranked 21st on the UPI leaderboard, which is currently dominated by PhonePe and Google Pay. 'Our investment in POP is driven by a clear purpose and that is to serve D2C merchants better. In today's crowded D2C space, brands need more than just payment solutions; they need tools to earn trust, drive repeat purchases and build real loyalty,' said Harshil Mathur, Co-founder and Chief Executive Officer (CEO), Razorpay.
Time of India
17-06-2025
- Business
- Time of India
Razorpay invests $30 million into consumer payments startup Pop
Pop , a consumer payment platform, has raised $30 million from payments solutions company Razorpay . This investment will go towards solving two of India's most pressing challenges in digital commerce : rising customer acquisition costs (CAC) for merchants and the lack of meaningful rewards for consumers. The company operates a rewards-first UPI payments app that merges payments, commerce, and credit into one experience. It has previously raised funding from several marquee investors, including India Quotient, Unilever Ventures, Incubate Fund, and Nuventures. "India doesn't need another cashback-only rewards app. What we need is a new rewards economy built on a long-term purpose. Popcoins are designed to build habits, increase retention, and reduce CAC for merchants — all while making payments more rewarding for the end user,' said Bhargav Errangi, Founder of Pop. 'With Razorpay's support, we will double down on our mission to bring a loyalty-first payments ecosystem that will help businesses scale with purpose, speed, and impact.' Pop will use the funding to strengthen product innovation, enhance the value proposition for consumers via Popcoins-led rewards, and build deeper merchant partnerships across D2C and lifestyle categories. Since launching its UPI platform last June, Pop has scaled to over six lakh daily UPI transactions, crossed one million unique monthly active transactors, fulfilled two lakh monthly commerce shipments and issued 40,000 RuPay credit cards in a co-branded partnership with Yes Bank . The investment expands Razorpay's footprint beyond payments into the broader ecosystem of loyalty, engagement, and commerce enablement. The company believes that while checkout journeys have been digitized, most merchants still lack easy-to-use tools that incentivize repeat purchases, drive real-time engagement, and convert casual visitors into loyal customers. Pop solves this by building a multi-brand rewards currency in the form of Pop Coins, in the company's view. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories 'Our investment in Pop is driven by a clear purpose and that is to serve D2C merchants better. In today's crowded D2C space, brands need more than just payment solutions; they need tools to earn trust, drive repeat purchases, and build real loyalty,' said Harshil Mathur, co-founder and CEO of Razorpay. 'Pop bridges that gap by combining instant rewards, seamless payments, and brand discovery in one platform. It's a powerful way for businesses to turn everyday transactions into lasting customer relationships." This investment in Pop complements Razorpay's earlier acquisition of PoshVine, a loyalty and rewards management platform, which laid the foundation for Razorpay Engage, touted as India's 'first full-stack intelligent marketing growth suite'. According to a recent Consumer Spending Report by Upside, over 90% of digital consumers consider rewards and loyalty while making purchase decisions. With India's D2C market expected to surpass $100 billion by 2026, the pressure on brands to create sticky, rewarding customer experiences has never been greater.
Fashion Network
06-06-2025
- Business
- Fashion Network
True Diamond raises Rs 26 crore in pre-series A funding round
Lab-grown diamond jewellery brand True Diamond has raised Rs 26 crore ($3 million) in a pre-series A funding round led by India Quotient, with participation from existing investors Titan Capital Winners Fund and Huddle Ventures. The company will utilise the funds to accelerate its omnichannel strategy, focusing on offline expansion. It already has retail outlets in Mumbai, Hyderabad, and Noida with plans to launch more stores across metro cities. Commenting on the funding, Parin Shah, founder of True Diamond in a statement said, 'We never wanted to be just another jewellery brand. We're building a next-gen brand experience, through high-quality lab-grown diamonds, cutting-edge content, and a retail journey that breaks away from the conventional. This round gives us the ability to scale this vision faster.' Sahil Makkar of India Quotient added, 'We see immense potential in the lab-grown diamond and gold combination as a category within the massive jewellery market. Under the leadership of Parin and Darayus, we've observed True Diamond evolving into an aspirational omnichannel retailer within this segment, and we are thrilled to be a partner in this journey." Founded in early 2024 by Darayus Mehta and Parin Shah, True Diamond offers a variety of products, including rings, earrings, pendants, necklaces, mangalsutras, bracelets, tennis bracelets, amongst others.
Time of India
04-06-2025
- Business
- Time of India
Jewellery startup True Diamond raises Rs 26 crore in pre-Series A funding round
New Delhi: Lab-grown diamond jewellery brand True Diamond has raised Rs 26 crore in a pre-Series A funding round led by India Quotient , with participation from existing backers Titan Capital Winners Fund and Huddle Ventures, as it sets its sights on aggressive offline expansion, according to a media release on Wednesday. The company plans to use the capital to accelerate its omnichannel strategy, with a specific focus on offline growth. It has already opened retail outlets in Mumbai, Hyderabad, and Noida, and intends to expand across metro cities to offer immersive brand experiences. Parin Shah , Co-founder of True Diamond said, 'We're building a next-gen brand experience through high-quality lab-grown diamonds , cutting-edge content, and a retail journey that breaks away from the conventional. This round gives us the ability to scale this vision faster.' Founded in early 2024 by Darayus Mehta and Parin Shah, the Mumbai-based startup aims to modernize the jewellery experience for Indian consumers through high-quality lab-grown diamonds, design innovation, and a differentiated brand journey.
